Everyday accounts

Westpac
Everyday Banking
Everyday
accounts
As at 12 August 2014
Your life, your budget, your
choice of account. It’s that simple.
Contents
04What do you want from your bank?
05 Welcome to banking the way you want it
06 Access your money easily
07 Which account suits you?
08Is Westpac Electronic right for you?
10 Is Westpac Access right for you?
12 Is Westpac Earner right for you?
14 Which account suits you? At a glance.
16 Applying for a Westpac everyday account
is easy
17 Other ways we can help
3
What do you want
from your bank?
Welcome to banking
the way you want it
What do you want from your bank – and
what sort of everyday services do you need?
So you can do things the way you want, to
suit your lifestyle and budget, you can choose
from three different everyday bank accounts.
Everyone likes to do things their own way and has different
ideas on what’s important.
If you bank with us we can help to set things up the way you
like. We have three different everyday bank accounts you can
choose from.
This booklet tells you more about the different ways you can
bank with us. It’s just a guide so if you’d like to know more give
us a call, visit us online or come and see us.
Superannuitants
If you are receiving NZ National Superannuation you can
choose to have one account free of monthly account
maintenance and transaction charges. You can enjoy these
benefits on any one of these accounts: Westpac Electronic or
Westpac Access. You must have your superannuation paid
into the account to qualify.
Under 19 years old
Customers under 19 can have one account free of account
maintenance and transaction charges. You can enjoy these
benefits on a Westpac Electronic account.
But before we look at the accounts, here’s a quick outline of
what you can do when you bank with us.
Do your banking when it suits you
Get a balance, move money around, even pay your bills
wherever you are – 24 hours a day. All you need to do is pick
up the phone, get online or find an ATM – here or overseas.
Split your pay and start saving
You can set up Payline Split, so that each payday some of your
income goes into your everyday account and the rest goes to
another Westpac account. It’s automatic and a great way to
manage your money – especially if you’re saving for something.
Automatic payments vs direct debits
Set up an automatic payment or direct debit so there’s no
need to worry about forgetting to pay your bills or other
regular payments on time. An automatic payment pays out a
set amount regularly. A direct debit can vary, so it’s handy for
things like phone and power bills, where the amounts change
with each bill. Both are easy to set up – just give us a call, visit
us online or come into a branch.
Mobile Banking and txt alerts
If you have a mobile phone you can register for Mobile
Banking and txt alerts. Mobile banking means you can txt
us to get the latest balance for your chosen account any
time. And with txt alerts you can automatically receive alerts
that notify you about important account or online banking
activities. You can choose to know when
–– your balance goes above or below a specified amount
–– your credit card payment is due
–– or get your account balance delivered to you
–– and much more...
If you’d like to know more about all the different ways we can
help, just give us a call, ask at any branch – or visit us online at
www.westpac.co.nz
4
5
Access your money
easily
Which account
suits you?
To make the most of your everyday account,
you need a handy way to access your money.
You can choose an everyday account to suit
your lifestyle and budget.
The following pages can help you choose which everyday
account will best suit you. With an ordinary EFTPOS/ATM card
you can go shopping and withdraw cash from ATMs. But now
there’s a card that does even more.
A Westpac Debitplus Visa card gives you even more ways to
access your money and buy the things you want. Link it to
your Westpac everyday account and use it to withdraw cash
or pay for things online, over the phone or overseas with your
own money. Some foreign currency fees and overseas ATM
charges will apply.
The freedom and flexibility of an
EFTPOS and ATM card
Whether you’re withdrawing cash for the weekend or paying
for lunch in a café, just enter the PIN and use your Debitplus**
card like an ordinary EFTPOS/ATM card. An annual $10 card
fee will apply.
If you want...
•The freedom of electronic
banking.
•A simple, inexpensive account
and don’t require the additional
level of service offered by
a branch.
•Plenty of choice about how
you bank.
•The option of a flat fee which
recognises your other business
with us (for total personal
business over $25,000).
Shop online or by phone
•Or the option and control of pay
as you go.
You can also use your Debitplus card to pay for purchases
over the internet or phone, wherever Visa is accepted. It’s not
a credit card, because you’re still using your own money from
your everyday account. But you have the convenience of the
worldwide Visa network to make online or phone shopping easy.
•To earn interest on your
everyday account and pay no
monthly account maintenance
or transaction fees (for
balances of $5,000 or more).
Accepted all over the world
•Plenty of choice.
Your Debitplus card can also be used worldwide wherever
you see the Visa or PLUS symbol. You’ll simply be accessing
your own money, using the global Visa network. That includes
more than 1 million ATMs and 24 million retail outlets around
the world*.
This account
may suit you...
Westpac Electronic
See page 8
Westpac Access Flat fee option
- Pay as you go
option
See page 10
Westpac Earner
See page 12
There’s a chart on pages 10 and 11 that compares the
different accounts to help you decide which one may be best
for you.
Use your Debitplus card anywhere
Visa is accepted.
This includes vending machines and ‘zip-zap’ machines in
New Zealand and around the world.
Contactless payments are an easier way to make purchases
under $80 in New Zealand. Simply hold your card close to the
card reader on the contactless terminal, without any need to
dip or swipe the card, select an account or enter a PIN.
* Foreign currency fees and overseas ATM charges apply.
**Debitplus Conditions of Use apply.
A $10 annual card fee applies.
6
7
Is Westpac Electronic
right for you?
Westpac Electronic focuses on the freedom
and convenience of electronic banking. It
means you can do your banking whenever
and wherever you want.
Westpac Electronic may be right for
you if
Keeping track is easy
To help you keep track you can receive printed or online
statements. Choosing to receive online statements means
you'll save on account maintenance fees. If you'd like to keep
receiving printed statements, they'll be sent to you each
month or less often if you prefer. If you want to move money
around or check what you’ve got, you can also do it online, by
phone or at an ATM.
What does it cost?
With Westpac Electronic, electronic transactions are free, and
if you stop your printed statements via online banking you’ll
pay no account maintenance fees either. Manual transaction
fees still apply.
–– you want your banking to be simple, fast and convenient
–– you do most of your banking electronically
–– you think you might need an overdraft
For…
It’ll cost…
Monthly account maintenance fee
$3.50 a month
(free if you stop your
printed statements
via online banking)
Freedom to bank when and where
you want
You’ll get a Westpac card you can use at ATMs and EFTPOS
outlets – and can bank online or by phone any time it suits
you. You can also apply for a cheque book, though this is not
recommended for people who write lots of cheques.
Electronic transactions
EFTPOS, Westpac ATM, automatic
payments, direct debit, direct
credit, bill payments, online and
phone banking payments
Free
Manual transactions
Cheques, Westpac ATM deposits,
deposits and withdrawals at branch
$3.00
Save money with Westpac Electronic
If you stop your printed statements via online banking,
you won’t be charged a monthly account maintenance fee.
Westpac Electronic also offers free electronic transactions, so
you can use EFTPOS or withdraw money from Westpac ATMs
as much as you like, and you won’t be charged. Some service
fees may apply and you can get more details on what these
are from our Transaction and Service Fees brochure.
It costs extra if you use another bank’s ATM. There may be
other charges as well so please pick up a Transaction and
Service Fees brochure or call us for more details.
You can apply for an overdraft
If you think you might want a bit of extra money at times,
you can apply for an overdraft. Normal credit conditions apply.
Sweep money in and out of your
account
With Westpac Electronic you can set up ‘sweep’ to
automatically move money in or out of your account. It’s great
for keeping your balance at a certain level without having to
worry about it.
8
9
Is Westpac Access
right for you?
Westpac Access gives you the flexibility and
choice of how you want to bank.
Choose your Westpac Access bank
account
–– either pay a flat monthly fee for electronic and manual
transactions, or
–– pay as you go for each transaction you make
Westpac Access flat fee recognises your total personal banking
relationship. If you have over a total of $25,000 in personal
business with us you’ll pay a lot less for your everyday banking.
Westpac Access flat fee may be right
for you if
–– you want your other business with us recognised
–– you want to pay less for your banking
–– you want plenty of choice about how you do your banking
Westpac Access pay as you go may be
right for you if
–– you like the personal touch when you bank
You can apply for an overdraft
If you think you might want a bit of extra money at times, you
can apply for an overdraft. Normal credit lending criteria and
conditions apply.
Sweep money in and out of your account
With Westpac Access you can set up ‘sweep’ to automatically
move money in or out of your account. It’s great for keeping
your balance at a certain level without having to worry about it.
Keeping track is easy
You’ll get a statement every month (or less often if you want)
to help you keep track of your money. You can also check your
balance at the branch or over the phone, online or at an ATM.
What does it cost?
With Westpac Access you can choose to simply pay as you
go – or pay a low monthly flat fee and all your electronic and
manual transactions are free.
Flat fee
If your total personal banking
relationship is…
Monthly account
maintenance fee
$100,000 or more
Free
$25,000 - $99,999
$5 a month
Below $25,000
$9.95 a month
–– you also like to bank electronically at times
–– you might want a cheque book or overdraft
Pay as you go
–– you want the choice of paying as you go
For…
It’ll cost…
Bank any way you like
Monthly account maintenance fee
Free
Electronic transactions
EFTPOS, Westpac ATM, automatic
payments, direct debit, direct
credit, bill payments, online and
phone banking payments
40 cents each
Manual transactions
Cheques, Westpac ATM deposits,
deposits and withdrawals at branch
80 cents each
With Westpac Access you can do your banking the way you
choose. And you can enjoy good old-fashioned personal
service without it costing much more than electronic banking.
You have plenty of choice
You can do your banking at any of our branches. You’ll also
get a Westpac card you can use at ATM’s and EFTPOS
outlets, and a chequebook if you want one. And of course you
can bank online or by phone and we’ll be happy to show you
how if you’re new to it.
10
It will cost extra if you use another bank’s ATM. There may
be other charges as well so please pick up a Transaction and
Services Fees brochure or call us for more details.
11
Is Westpac Earner
right for you?
Westpac Earner gives you a good return
on your everyday account. If your average
monthly balance in your Westpac Earner
is $5,000 or more, you’ll earn high interest
and pay no monthly account maintenance or
transaction fees.
Westpac Earner may be right for you if
–– you want to earn interest on your everyday account
–– you want plenty of choice about how you do your banking
You’ll earn interest if your balance is $5,000 or more. Interest
is calculated daily. Rates vary so please ask us about the
latest rates.
You have plenty of choice
You can do your banking at any of our branches. You’ll also
get a Westpac card you can use at ATMs and EFTPOS outlets
and a chequebook if you want one. And of course you can
bank online or by phone and we’ll be happy to show you how if
you’re new to it.
Sweep money in and out of your
account
With Westpac Earner you can set up ‘sweep’ to automatically
move money in or out of your account. It’s great for keeping
your balance at a certain level without having to worry about it.
Keeping track is easy
You’ll get a statement every month (or less often if you want)
to help you keep track of your money. You can also check your
balance at the branch or over the phone, online or at an ATM.
12
What does it cost?
Keep your average monthly Westpac Earner account balance
$5,000 or over and your account maintenance and transaction
fees will be waived. If your average monthly balance is
below $5,000 you’ll pay $9.95 account maintenance fee plus
transaction fees.
If your average monthly balance is
$5,000 or more
For…
It’ll cost…
Monthly account maintenance fee
Free
Electronic Transactions
EFTPOS, Westpac ATM, automatic
payments, direct debit, direct
credit, bill payments, online and
phone banking payments
Free
Manual Transactions
Cheques, Westpac ATM deposits,
deposits and withdrawals at branch
Free
If your average monthly balance is
below $5,000
For…
It’ll cost…
Monthly account maintenance fee
$9.95 a month
Electronic Transactions
40 cents each
Manual Transactions
80 cents each
It costs extra if you use another bank’s ATM. There may be
other charges as well so please pick up a Transaction and
Service Fees brochure or call us for more details.
13
Which account suits
you? At a glance…
Compare the features
The account
Minimum
balance
needed
Earn
interest
ATM /
EFTPOS
Chequebook
Overdraft
Payline
split
Sweep
Westpac Access
- Flat fee
û
û
û
Westpac Access
- Pay as you go
û
û
ü
ü
ü
ü
ü
Westpac Earner
$5,000
ü
average monthly
ü
ü
ü
ü
ü
ü
Westpac Electronic
ü
ü
ü
ü
ü
ü
ü
ü
ü
ü
balance
Compare the prices
The account
Minimum
balance
Monthly account
maintenance fee
Electronic
transactions (each)
Manual
transactions (each)
Westpac Electronic
None
$3.50, or free if you
stop your printed
statements via
online banking
Free
$3.00
Westpac Access
- Flat fee
$25,000 in
business with us
$5.00, or free
if over $100,000
Free
Free
If business drops
under $25,000
$9.95
Free
Free
Westpac Access
- Pay as you go
None
Free
40 cents
80 cents
Westpac Earner
$5,000
Free
Free
Free
If average monthly
balance is below
$5,000
$9.95
40 cents
80 cents
Other service fees may apply as detailed in the Transaction
and Service Fees brochure.
14
15
Applying for a
Westpac everyday
account is easy
Other ways we
can help
Just visit your nearest Westpac branch and bring the
following
We can also help you with a choice of other banking
products and services
–– verification of identity and proof of address. Please refer
to Westpac’s list of acceptable documentation available at
www.westpac.co.nz/AML
–– home loans – plus advice and seminars on buying your
first home or rental property
–– your IRD number to ensure interest is taxed at the right rate
–– if you are a new customer to Westpac and would like a
cheque book, a minimum opening deposit of $100
It would also be a good idea to bring details of any automatic
payments or direct debits you have, so we can arrange for
these to be transferred across to your new account.
16
–– personal loans and credit cards
–– investment advice and services
–– insurance for your home, contents, vehicle, boat –
and for your life and income
–– travellers’ cheques and foreign currency.
If you’d like to know more about all the different ways we
can help, just give us a call, ask at any branch – or visit us
online at www.westpac.co.nz
17
18
19
The information in this brochure is current as at 12 August 2014 and may vary from time to
time. Terms, conditions, fees and charges apply to Westpac bank accounts. Westpac current
lending criteria apply to all applications for finance. Debitplus Conditions of Use apply.
Westpac’s Electronic Banking Services terms and conditions apply to mobile banking and text
alerts. Terms and conditions, exclusions and limits apply to all applications for Insurance. For
more details visit www.westpac.co.nz. You can get a copy of the current disclosure statement
for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge.
Disclosure statements under the Financial Advisers Act are available on request and free of
charge from Westpac or your financial adviser.
Westpac New Zealand Limited.
72274WP-3 08-14