Westpac eSaver

I have been banking with them since 2013 and they give the best interest on this account so I would recommend opening an account so you can save quicker and faster.

Opened an eSaver account with Westpac in June 2018 expecting a total interest rate of 2.51% (made up of 0.8% base rate plus the 5 month introductory rate of 1.71% published on their website at the time). After almost 3 months I accidentally discovered I had not been getting 2.51%, but actually 2.21%. After enquiring to Westpac I was told that they changed the base rate from 0.8% to 0.5% in early July 2018 three weeks after I opened the account. They did not notify me or any of their eSaver customers about this variable base rate change. They ar...

Same problem as Kane. I got the 2.51% for the first half-month (11 to 29 June 2018). Now has dropped to 2.21% because, they tell me, the fixed introductory bonus rate has stayed at 1.71% and the variable base rate has gone down from 0.8% to 0.5%. I couldn't work out when this happened - only in about the last four days according to my calculations (yes, I keep a spreadsheet), but the telephone operator said it happened on 25th June 2018, which makes no sense at all because I got the full 2.51% for all of June! All a bit random. Don't trust anything they say!

Customer beware!

I qualified for the promotional rate of 2.51% so I opened a brand-new Esaver account at my branch on a Friday. By Monday Westpac reduced my rate down to a low 2.36 without any notification whatsoever.

Four days later I noticed the rate is updated on the app banking.

I contact Westpac to be told that the base rate had been reduced one day after I signed up and I was no longer qualified for the 2.51% I signed up for!

How convenient! This is absolutely ridiculous they refuse to honour their promotional rate, t...

In a nutshell: you get hit with an ongoing chain of charges to keep the account intact (I do not belong the demographic that can feed it >$2000 a month), and then another series of (hidden until you indicate you wish to close) charges to close the account. Perhaps I was misguided in thinking a bank was a service to help one save fiat currency... This is one bank where I was leaking savings left right and centre. Farewell Westpac.

this one has a better rate of interest than other savings accounts though not the highest available it can also be linked easily to other saving accounts so that transfer of money to the higher rate of interest account is easy all in all a combination of two accounts is a great way to pay your bills over the net
the westpac on line bank web page is easy to navigate and it is easy to transfer money, pay by B Pay or set up regular payments from the staff are very easy to deal with
i can not think of a thing

Good account to save but limit your transactions to reduce the fees you are charged. I prefer the ING Savings Maximiser to this account.
Good interest rate, easy to use internet and phone banking.
Limited transactions - if you organise a direct debit from the esaver you are slugged with a $5 fee each time.