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The first $1,999.99
The first $1,999.99 will earn the first tier of interest, currently 0.05% p.a.
Retirement Advantage Account
A transaction account exclusively for those aged 55 and over. Enjoy reduced fees and simple banking by combining a transaction and savings account in one.
Benefits
No monthly maintenance fee
And no minimum monthly deposit needed.
Bankwest Halo payment ring
For an even easier way to pay, order a Bankwest Halo payment ring.
How it works
Interest is calculated daily, credited monthly and applied to the relevant portion of your balance that falls within each tier.
For example, if you have a balance of $50,000 in your account:
The next $46,000
The next $46,000 will earn the second tier of interest, currently 0.40% p.a.
The next $2,000
The next $2,000 will earn the third tier of interest, currently 1.05% p.a.
Rates and fees
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| Rates | |
|---|---|
| Name | Rate |
| Variable interest rate on balances from $0 up to $1,999.99 | 0.05% p.a. |
| Variable interest rate on balances from $2,000 up to $47,999.99 | 0.40% p.a. |
|
Variable interest rate on balances of $48,000 or more |
1.05% p.a. |
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| Fees | |
|---|---|
| Name | Fee |
| Monthly maintenance fee | $0 |
| Electronic withdrawal fee | $0 |
| Cheque withdrawal fee | $0 |
| Counter withdrawal fee | $0 |
| Overseas ATM access fee | $5 per transaction 3 |
| Foreign transaction fee ? |
2.95% of the transaction amount |
|
Paper statement fee
?
Avoid this fee with eStatements. Close |
$1.25 per statement |
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Customers with this account will receive eStatements via Bankwest Online Banking and the Bankwest App. Customers who opt to receive a paper statement, however, may be charged the above fee. Exemptions apply.
Rates are subject to change. Other fees and charges may apply. For more detailed information, see the Retirement Advantage Account Product Schedule (PDF) and Your Guide to Banking Fees (PDF).
Rates are subject to change. Other fees and charges may apply. For more detailed information, see the Retirement Advantage Account Product Schedule (PDF) and Your Guide to Banking Fees (PDF).
View our transaction account terms and conditions
Transaction account terms and conditions:
The relevant Product Schedule together with all of the related documents form the complete Product Disclosure Statement for this product.
Product schedule:
Retirement Advantage Account Product Schedule (PDF)
Related documents:
Apply today
Here are your next steps...
Check your eligibility
- You must be 55 or over
- After a joint account? Book a branch appointment to apply. If you already have a joint account with us, call 13 17 19
- You must be an Australian citizen, or temporary or permanent resident, and have an Australian residential address to get a Debit Mastercard®.
1
Things you need for your application
- Photo identification such as an Australian driver's licence or passport. Or see a handy list of other ID documents we’ll accept
- Tax File Number (providing your TFN stops you from paying witholding tax on this account).
Already started? Resume your application
Looking for something else?
Check out some of our other bank accounts.
Bankwest Qantas Transaction Account
Earn Qantas Points while you bank
Australia’s first Qantas Transaction Account that lets you earn Qantas Points on the money in your everyday account.
Hero Transaction Account
An account that earns interest
Make your everyday account work harder by earning interest on balances up to $5,000.
Things you should know
- Fees and charges including other bank ATM fees, overseas ATM access fees, foreign transaction fees, and honour and dishonour fees, may apply.
- Interest is calculated daily, credited monthly and applied to the relevant portion of your balance that falls within each tier.
- The overseas bank may charge a fee for using their ATM. Other fees and charges, including foreign transaction fees, may apply.
Mastercard and the Mastercard brand mark are registered trademarks, and the circles design and Tap & go are trademarks of Mastercard International Incorporated.