Product details
A transaction account that lets you access you money worldwide. You can access over 3,000 Westpac Group ATMs along with 50,000 global ATMs that are part of Westpac’s Global ATM alliance. Online banking and mobile banking available. Open one today in less than 3 minutes.
Don't pay any ATM fees when you withdraw money from an ATM that belongs to one of Westpac's Global partners (see below for the list). Be mindful that the foreign transaction fee still applies.
- Product Name
- Westpac Choice
- Monthly Account Fee
- $5
- Debit Card Access
- Mastercard
- ATM Withdrawal Fee
- $0
- Interest Rate p.a.
- 0.00%
- Details
- $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at St.George, Westpac, Bank of Melbourne and BankSA ATMs.
- Joint Application
- Yes
- Fee Free Deposit p.m.
- $2,000
- Overseas ATM Withdrawal Fee
- $5
- Overseas Eftpos Fee
- 3%
- Phone Banking
- Yes
- Fees
- $5
- Internet Banking
- Yes
What are the features of the Westpac Choice transaction account?
When looking into a transaction account that helps you manage your money, consider the following features that the Westpac Choice has to offer you:
$0 Account keeping fee if you deposit $2,000 per month
If you are able to deposit at least $2,000 a month into your account, the $5 monthly service fee will not be charged to your account. In addition, the fee is waived for individuals under the age of 21, full-time tertiary students, and individuals who hold an Australian Pensioner Concession or Health Care Card. Expatriate and migrant customers will have the fee waived for the first year that the account is open.
If you open a new Westpac Choice account, you receive a one-year International Student Identity Card (ISIC) or a International Youth Travel Card (IYTC). Note: the ISIC is available for full time students while the IYTC is available for applicants under 31 years old. Both cards give you access to discounts on travel, restaurants and more.
Click on "Go to site" to find out more.
Linked debit Mastercard or Handycard
A debit Mastercard is issued to all Choice account holders over the age of 16. With this card, purchases can be made in stores, online and over the phone, with the price being directly debited from your transaction account. Customers under the age of 16 can use a Handycard, which allows you to withdraw cash from Westpac ATMs, however does not allow for online purchases.
Free ATM withdrawals within the Westpac ATM network
You can make unlimited withdrawals using your debit Mastercard from any Westpac ATM in Australia.
No foreign ATM withdrawal fee when using a Global Alliance ATM
Westpac is a part of the Global ATM alliance which allows you to make cash withdrawals from certain banks overseas without being charged an ATM fee. If you do use an ATM that is not a part of the alliance, you will be charged $5 per transaction plus other fees and charges may be added to your account from the issuing bank.
Global ATM partners
| Country | ATM Network |
|---|---|
| New Zealand | Westpac NZ |
| Solomon Islands, Papua New Guinea, Tonga, Samoa, Cook Islands, Vanuatu, Fiji | Westpac Pacific Banking |
| Italy, France | BNP Paribas |
| Poland, Spain, Germany | Deutsche Bank |
| Zimbabwe, Zambia, Uganda, Tanzania, Seychelles, Mauritius, Kenya, Ghana, Botswana | Barclays Bank |
| UK, Portugal and Gibraltar | Barclays Bank |
| South Africa | ABSA |
| USA | Bank of America |
| Ukraine | Ukrsibbank |
| China | Bank of Nanjing |
| Singapore | DBS, POSB |
| Canada, Chile, Mexico, Peru, Caribbean, Jamaica | Scotiabank |
Online, tablet and mobile banking available
You can also get cash from Westpac ATMs by using a cash code that is issued to you through mobile banking. This option limits you to withdrawals of up to $500 daily or $1,000 a week.
Mortgage interest offset available
If you are a home loan customer with a Westpac Rocket Repay home loan or Rocket Investment loan, the balance of your Choice account can offset the balance of your home loan. Interest is then applied to your mortgage payment based on the adjusted amount, lowering the amount due to Westpac.
Foreign currency conversion
If you make a transaction in a foreign currency and the merchant accepting the debit Mastercard is located outside of Australia, you will be charged 3.00% of the Australian dollar amount. If the merchant or bank is located inside of Australia, you are charged 2.2%.
Get cash without your debit card
Westpac's new feature, Cardless Cash lets you withdraw money without your debit card from Westpac-branded ATMs. All you need to do is generate a code from the Westpac Mobile Banking app.
Tap and Pay with your Android phone
Pay in-store with your compatible Samsung smartphone using Tap and Pay. Hold your phone to the EFTPOS reader to make purchases under $100 in a tap.
Pros
- No ATM fees when using St.George / Westpac / BankSA / Bank of Melbourne ATMs.
- No monthly service fee if you deposit a minimum of $2,000 per month
Cons
- Must deposit $2,000 to get no monthly service fee
Open a Westpac Choice account in less than 3 minutes
When after comparing the features of various transaction accounts you find that the Westpac Choice is the right choice for you, you can apply online by clicking ‘Go to Site’.
Eligibility to apply online
Before you begin to fill out the application make sure that you are able to meet the following eligibility requirements:
- Your age. In order to be considered for this account, an applicant must be at least 12 years of age. Keep in mind that if you are under 16, you will not be issued a debit Mastercard. Instead, you will need to apply for the Handycard. This card will be able to provide you with access to your money.
- Residency. You must be an Australian resident currently living in Australia with a valid residential address.
- Mobile number. Westpac will send an account activation code to your mobile phone once they have opened your account.
Documents for your online application
If you are eligible to apply for the Choice account, continue on to the secure application page with the following documentation close by to refer to:
- Identification documents. Westpac will attempt to verify your identity electronically by using the information from one of the following documents; your passport, driver’s licence, Medicare card or birth certificate. If Westpac is unable to verify your identity, you may need to have this step finished at a local branch.
- Personal information. Some of your personal details will need to be provided, such as your full name, date of birth and your current Australian address.
- Account information. If you intend on using this account as a 100% offset for your home loan, have your customer or account number available.
What happens after I submit the application?
Once you have submitted your online application to Westpac, they will issue you an activation code so that you may begin making your deposits. The debit Mastercard will be sent by post to the address you provided and will be ready for use once you activate it.
Does Westpac Choice pay if you have no more remaining balance and will it be paid off when I deposit again? Are there any fees or deduction?
If you are asking whether you can withdraw more money than you have in the account, the answer is yes. But you will be charged $9 for each transaction that overdraws your account. The terms and conditions for this account say you shouldn’t overdraw this account. Perhaps they can advise you on a less costly form of credit.
If my pay is deposited on a Tuesday morning, when will the funds be available please? Eg - my pay was put in Tuesday morning (yesterday) and the funds still aren’t showing as being available and it’s Wednesday afternoon. When will they clear and be available to use please?
Funds deposited into your account in the morning should be available from the next day, but transfers can take up to three days. I’d recommend contacting both banks involved in the transaction to find out what has happened to your funds.
Can we use our Black Mastercard to withdraw money when overseas from ATM’s or the banks and what conversion fees are we looking at. Is it better to have a debit card and place some money on that like Euros?
Any credit or debit card can be used overseas to withdraw money. The Westpac Black card will come with a 3.0% foreign transaction fee, and if you used the attached American Express a 3.5% fee is charged. When travelling overseas, there are good credit cards, debit cards and travel cards which can be used. We’ve conducted a comparison of them here.
What is the lead time for online transfers from a Westpac account to an external bank?
According to Westpac the transfer times to an account at an institution other than Westpac is: "Paid before 6pm (Sydney time) on a business day – credited next business day, Paid after 6pm (Sydney time) on a business day – credited day after next business day and paid on weekend or NSW public holiday – credited day after next business day.”
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Most of the banks mentioned above don’t charge foreign ATM withdrawal fee when using a Global Alliance ATM. In Germany the Global ATM Alliance partner is Deutsche Bank. Does that mean that I can use only ATM branded Deutsche Bank or also those of their subsidiary Postbank?
Thanks
Hello Leon!
The Westpac Global ATM Alliance page indicates that only Deutsche Bank is connected in Germany.
You may want to verify this with Westpac directly.
Hope this helps.
Cheers,
Jonathan
I am planning to travel to Melbourne for holidays about 2 months . I am worry to carry cash on hand . I wanna know which is the best bank me as a foreigners should choose to avoid the fees and charges on basic daily transactions ( cash withdrawal , money transfer ) . Or which bank provide the lesser charge on those transaction ?
Hi Kelly,
Thanks for your question.
As a foreigner in Australia, there are actually everyday transaction accounts that are available for you. You can open or apply for an account when you arrive. You can find on this page – https://www.finder.com.au/foreigners-open-a-bank-account-in-australia what are these banks and the guide on how you can apply.
Please click on the name of the transaction account you are interested in to know more about the features of the account including fees and rates.
Regards,
Jhezelyn
I am about to leave on a four month tour of Europe and the United Kingdom and was wondering which of the debit cards would be best to use for cash withdrawals and card payments.
I was looking at Citibank on this site but they have no branch atms in Western Europe and only three in United Kingdom.
They may still be the best but I am a bit confused on which one to choose.
Thanks
Hi Sarberz,
Thank you for your inquiry. As finder.com.au is a comparative financial service, we’re unable to suggest or recommend one specific travel money card to our users as the best option depends ultimately on your own financial situation, travel plans and spending habits.
Nonetheless, you may compare your travel money card options on this page. To check the fees and rates of the card, simply click on the name of the card so that you’d be redirected to its review page.
As for the Citibank travel card, if you’re referring to the Citibank Plus Transaction account, it has actually no fees for foreign transactions or ATM withdrawals. Although you’ll be charged third party ATM operator fees, which Citibank does not have control.
Hope this has helped.
Cheers,
May
Can I get a mastercard debit card from Westpac, I am on a pension and I need it so that I don’t incur the booking fee when I buy online.
Hi Faye,
Thanks for your question.
Yes, you’ll receive a MasterCard when you open a Westpac Choice transaction account. It should arrive in the mail within 1-2 weeks of opening the account.
Hope this helps.
what is the least expensive way to pay a dental bill in Thailand the amount will be approx. $14,500.00
Thanks
Hi Claire,
Thanks for your question.
You may want to consider an international money transfer – you can compare them here.
Hope this helps.