Retirement Advantage Account
Over 55s transaction account
What you’ll get
Spend and earn
Earn interest on your balance while using the account for everyday spending.**
No fees
Enjoy no ATM or monthly fees.*
Spend overseas fee‑free
Use your Platinum Debit Mastercard overseas or online without foreign transaction fees.†
Easy access
Manage your money in the Bankwest App or online and tap to pay with your digital wallet.
From $0 to $9,999.99
The variable interest rate you’ll earn on balances from $0 up to $9,999.99.
From $10K to $49,999.99
The variable interest rate you’ll earn on balances from $10,000 up to $49,999.99.
From $50K to $249,999.99
The variable interest rate you’ll earn on balances from $50,000 up to $249,999.99.
From $250K and over
The variable interest rate you’ll earn on balances from $250,000 or more.
Smarter tools, simpler banking
Spend safely with virtual cards
Make purchases without using your regular card details. Create single‑use cards for one‑offs or multi‑use cards for regular spending.***
Clearer view of your spending
Search transactions, track subscriptions and get details on where you spent.
Fast-acting security
Log in with biometrics, lock and unlock your cards, and get notified when something’s not right, so you can handle anything unusual in seconds.
Fees
(There are none)
| Monthly fees | $0 |
|---|---|
| Using your card overseas (ATM and transactions)*† | $0 |
| Using your card in Australia (ATM and transactions)*† | $0 |
| Dishonours and honours | $0 |
| Replacement debit card (Australia and overseas) | $0 |
| Paper statement fees | $0 |
Uncomplicate your banking
Common questions
If you’re already a Bankwest customer, you may be able to open a joint account in the app by choosing the account you’d like and selecting the ‘two of us’ option.
You’ll need to already have joint Bankwest account(s) with the other applicant, or both applicants must not have any other existing Bankwest joint accounts.
With a joint transaction or savings account, both people will have full access to the account and the money in it unless the account has multiple signatory instructions.
Things to consider
- Retirement Advantage Account is also suitable for concession card or government card holders.
- Apple, the Apple logo and Apple Pay are trademarks of Apple Inc. App Store is a service mark of Apple Inc. Bankwest Apple Pay Terms of Use apply.
- Android, Google Play and the Google Play logo are trademarks of Google LLC. Bankwest Google Pay Terms of Use apply. Google Pay and Google Wallet are trademarks of Google LLC.
- Bankwest Samsung Wallet Terms of Use apply. Samsung and Samsung Wallet are trademarks of Samsung Electronics Co Ltd.
- Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
~ Retirement Advantage age requirement
For joint accounts one customer must meet this age requirement.
** Interest
Interest is calculated daily, credited monthly and applied to the relevant portion of your balance that falls within each tier.
* ATM fees
ATM operators may charge a fee. Other fees and charges may apply.
† Foreign transaction fees
Foreign transactions are all transactions effected in foreign currency or occurring outside of Australia whether in foreign currency or Australian dollars including if you are in Australia (for example, online) where the merchant or the financial institution or entity processing the transaction is located overseas. Other fees and charges may apply, including when using overseas ATMs.
*** Virtual cards
Eligibility criteria apply. Virtual cards are available, subject to your account meeting the requirements, for Easy Transaction Accounts, Offset Transaction Accounts, Retirement Advantage Accounts and all retail credit cards (where lending criteria apply). See the Account Access Conditions of Use or Terms and Conditions relevant to your product.
Platinum Debit Mastercard
Platinum Debit Mastercard access is available to Australian citizens and temporary or permanent residents with an Australian residential address. Limited exceptions may apply subject to conditions.
Custom alerts
Custom alerts are available for mobile personal banking accounts on eligible devices in which you have the Bankwest App installed and notifications enabled. Limited alerts only are available for credit products.
App push notifications
On eligible devices in which you have the Bankwest App installed and notifications enabled.
eStatements
Customers opening this account will receive eStatements via Bankwest Online Banking and the Bankwest App. Customers can opt to receive a paper statement.
Important documents
Consider the applicable PDS available from Bankwest before deciding whether the product is right for you. Fees and charges may apply and subject to change. The relevant Product Schedule together with all of the related documents form the complete Product Disclosure Statement for this product.
