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This everyday transaction account has no monthly account keeping fee when you deposit $2,000 a month. There's also no account fees for students and customers aged under 21.
You can access over 3,000 Westpac Group ATMs in Australia for free along with 50,000 global ATMs that are part of Westpac’s Global ATM Alliance.
$2,000
Fee Free Deposit
$5
Account keeping fee
$0
ATM withdrawal fee
$5
Overseas ATM withdrawal fee
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Product Name | Westpac Choice |
---|---|
Monthly account fee | $5 |
Card access | Mastercard |
ATM Withdrawal Fee | $0 |
Internatonal ATM Fee | $5 |
International transaction fee | 3% |
Monthly deposit required to waive account fee | $2,000 |
Contactless payments | PayPass, Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
The Westpac Choice bank account has a monthly account keeping fee of $5, however this is waived if you’re under 21 or a full time student. You’ll also get the account fee waived if you deposit $2,000 a month. If you’re concerned about meeting this deposit requirement, there are lots of other everyday accounts with no monthly fee and no deposit conditions to meet.
For those of you who love to travel, Westpac is part of the Global ATM Alliance which is one of the largest ATM networks internationally. This means you can make free withdrawals at more than 50,000 ATMs worldwide. There is, however, a 3% international transaction fee applied to card purchases made in a currency besides AUD. While you can avoid this fee with a select number of debit cards, it is fairly standard across most of the major banks to charge this.
If you’ve got a Rocket Repay home loan with Westpac, you can use the Choice account as an offset account to reduce the amount of interest you need to pay on our loan. The account can also be opened as a joint account, and both account holders will get their own debit MasterCard linked to the account, which is handy if you regularly need to split expenses with a partner or roommate.