savings & transaction accounts

Find out ways to apply for new savings and transaction accounts and how to manage your accounts once they are up and running.

The basics

  • How long will it take for my account to be ready to use?

    Your savings and transaction accounts are opened immediately and you will be provided with your account number and BSB. This means you can arrange to have your salary credited into your account straight away.

    If a, ATM card is required for your account please allow time for the card and PIN to be sent in the mail. We send these separately for security reasons. Your card should arrive within 3-4 business days and the PIN should arrive 2-4 business days after your card.

    Please note: If you are a brand new customer to Bankwest and you apply online, you may be required to come into one of our stores with your ID so that you can be correctly identified.

    Bankwest Online Banking (BOB) is the easiest way to manage your account

    All you need is your Personal Access Number (PAN) and secure code to get started:

    • If you’re new to Bankwest… your PAN will arrive straight away via email and you’ll receive your secure code via SMS. Otherwise, these details will arrive separately via post within 5 business days.
    • If you're an existing customer... log in to BOB to access this account straight away
  • Can I add someone else to my account?

    You can give someone else access to your account by adding them as a signatory. As a signatory they can perform all functions as the account owner apart from having the authority to close the account.

    To add a signatory to your account, you and your new signatory need to complete an Account Operating Amendment Form and take it to your nearest Bankwest store.

    Please note: If the new signatory is not an existing Bankwest customer, they will need to visit their local store with photo identification so we can add them to our system.

    If they do not have a branch nearby, they can complete our identification form and take it, along with their ID information, into their nearest post office.

    If you want to add someone else to the account by making it a joint account (so that they have full access to the account including closing it) then you will need to close the sole account and open a brand new joint account.

  • How do I remove someone from my account?

    You can remove a signatory or third party from your account simply by visiting your local Bankwest store or speaking with one of our friendly staff on 13 17 19

    The great news is signatories can be removed on the spot, without the need for a form!

    If you have a joint account and either or both of the account holders want to have that account in their own name, then you will need to close down the account and open individual accounts. Joint accounts cannot be converted into individual accounts.

  • Can I change the type of account I have?

    Yes you can. In most cases this means changing the account number as well, however depending on the type of savings or transaction account you currently have you may be able to change the account type without changing the account number.

    Lite Transaction Accounts

    If you currently have a Lite Transaction Account you can change this account to the Easy or Hero transaction account and maintain the same account number. Please head down to your nearest store or call us on 13 17 19 and we will organise to have your account converted.

Transferring Money

  • How can I transfer money out of my account?


    Please refer to our payments & transfers information for online banking.
    Using phone banking, you can make internal funds transfers between your own Bankwest accounts or pay bills using BPAY®. To use phone banking call 13 17 18 – select 1 for phone banking, enter your PAN and phone banking PIN and follow the prompts. If you are unsure what your phone banking PIN is please press option 3 to speak to one of our operators.
    You can also make payments or transfer money in person at any Bankwest store. Simply visit your nearest Bankwest store and one of our friendly staff members will assist you in completing the transfer and/ or payment.
  • After I make a payment, how long does it take until it arrives at the other end?

    There are a number of factors that affect the time it takes to process a payment. To help you understand payment processing times please visit our payments & services section.

Linked accounts

  • What is a linked account?

    Some special high interest accounts, such as Smart eSaver, TeleNet Saver or Online Term Deposit (also known as tddirect), are only accessible online and these accounts have what we call a linked account attached to them. The linked account must be a transaction account. You transfer money from the high interest account to the linked account so you can access the funds.

    These special high interest accounts don’t have debit cards attached to them and you can’t use them for BPAY or to transfer funds to any other account except your linked account.

    Bankwest Smart eSaver and TeleNet Saver accounts opened on or after 18 December 2014 must be linked to a Bankwest transaction account. Regular Saver accounts must be linked to a Bankwest transaction account.Online Term Deposit accounts may be linked to a transaction account you hold with Bankwest or at another financial institution.

  • How do I use a linked account?

    In Bankwest Online Banking you select payments and transfers and then linked account transfer. Find out more about making payments & transfers.

  • How do I change a linked account?

    To change your linked account please complete the Change of Linked Account Request form .

    Completed forms can be sent back to us by mail to GPO Box W2072, Perth WA 6846, or faxed to 1300 664 825.

Earning interest

  • How is interest calculated on my savings account?

    Interest is calculated on a daily basis and credited to savings accounts on the first working day of each month.

  • How is interest calculated on my term deposit?

    We will start calculating interest on your term deposit from the day the funds are first deposited into your account.

    Interest will be calculated at the end of each day and we will generally pay it back into your deposit, or in some cases another nominated account, at the end of its term.

    In some instances, if the term of your deposit is longer than 12 months, you can ask us to pay interest monthly, quarterly or yearly.

Inactive accounts

  • What happens to my money if my account has been inactive for 7 years?

    If you haven’t made a deposit or withdrawal for over seven years then:

    • we have to close the account and issue you with a closing statement(s)
    • if the balance is greater than $500 - we'll send the funds to the Australian Securities and Investment Commission (ASIC)
    • if the balance is less than $500 - we'll keep hold of the funds until we hear from you

    How can I stop this from happening?

    You just need to make a deposit or withdrawal from that account immediately. You can do this via online banking or EFTPOS or by visiting a Bankwest store or ATM (depending on your account type).

  • Can I reclaim my money if it’s been transferred to ASIC?

    If you believe Bankwest has transferred your funds to ASIC under Unclaimed Monies we’re here to help you reclaim your funds:

    1. use the ASIC Unclaimed money search to confirm if they are holding any of your funds
    2. complete the Unclaimed Monies Claim form (PDF, 63KB) and take it to your nearest Bankwest Store*
    3. we’ll confirm if your funds were transferred to ASIC and will then lodge a request to return the funds to you.

    *You will need to provide sufficient documented proof of account ownership and proof of identity. If you are attending a store to lodge the form please refer to our identification check list. If you are lodging the form by mail you must include a certified copy of a primary photographic identification document.

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© 2016 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.