Can you explain the interest rate a bit more?
Certainly! If you do not make any withdrawals in a calendar month, the Smart Rate will apply to all balances for the whole month.
If you do need to withdraw in the month, the Standard Rate will apply to all balances for the whole month, not just from the time of a withdrawal. We guarantee the Standard Rate will at least match the RBA Cash Rate until 30 June 2011.
Interest is calculated at the end of each month, at the relevant rate on the daily balance and paid on the first business day of each month.

Does that mean if the RBA changes its rate, the Standard Rate will change?
If the RBA decides to decrease or increase the Cash Rate, the Standard Rate on the Bankwest Smart eSaver may also change. The Standard Rate will at least match the RBA Cash Rate until 30 June 2011.

How about the Smart Rate, will you have to move on that if the RBA changes rates?
While we'll always try and be as competitive as possible with our savings accounts, the Smart Rate is variable and up to the Bank's discretion to change.

Are all the rates for the Bankwest Smart eSaver variable?
Yes. The Smart Rate is variable and subject to the Bank's discretion to change. The Standard Rate is variable, but it will at least match the RBA Cash Rate until 30 June 2011.

How many Smart eSaver accounts can I have?
You can open one Bankwest Smart eSaver account per person. You are entitled to one Bankwest Smart eSaver, regardless if the account is held in joint names or single names. This means that if you have a joint Bankwest Smart eSaver account with someone else, you cannot open another Bankwest Smart eSaver in a single name.

When will my initial deposit be debited from my Linked Account?
Your initial deposit will de debited from your Linked Account when the Bankwest Smart eSaver is successfully opened.

Can I open a Smart eSaver for a Trust/Business/ Superannuation Fund?
No.  The Bankwest Smart eSaver is for personal customers only and is not suitable for Trusts, Business and superannuation Funds.  You might like to check out our fantastic Bankwest Business TeleNet Saver if you're looking for a competitive business product.

For the best savings, can I link my TeleNet Saver to my Bankwest Smart eSaver?
No. You need to have either a transaction or savings account to link to the Bankwest Smart eSaver and all transfers must go through your Linked Account.

Once I've opened my Bankwest Smart eSaver can I come into the store to transact on the account?
No. Because it is an online savings account the transactions performed on your account will need to be made over the internet or phone. This is what helps us provide the Bankwest Smart eSaver account with no maintenance or transaction fees!

I currently have a TeleNet Saver Account, can I convert this to a Bankwest Smart eSaver?
Unfortunately not. You will need to open a Bankwest Smart eSaver separately.

Why do I sometimes receive less interest some months, even when my balance has not changed?
Interest is calculated on the daily balance of the account and credited on the first business day of the month.  As a result the interest calculation fluctuates depending upon the number of days in the interest raising period.  If the first day of the month falls on a weekend or a public holiday, the date the interest will be raised will be the next business day.  Rest assured, you will always receive the right amount of interest over the cycle of a year as some months you will receive more interest than others.
For example, if there were 30 days in a particular month but the 1st and 2nd of the next month fell on a weekend your interest would be calculated on 32 days and paid on the 3rd of the month.  This means that the following months interest calculation would start from the 4th of the month and potentially be less than the previous.