Westpac Choice eAccount
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Transaction
Moneybuddy says
A cost-saving everyday bank account from Westpac that reduces the monthly fee in exchange for limiting branch access to your funds (i.e. banking is only unlimited online or via telephone). You still get unlimited ATM/EFTPOS access, but branch access carries a fee (so the account won't suit you if you like to bank via your local branch). A natural choice for those preferring convenient online access to their funds.
The Basics
Interest paid -
Interest calculated -
Headline interest rate p.a. -
Monthly fee -
Account type Transaction
The cool stuff: features
ATM access Yes
EFTPOS access Yes
Branch access Yes
Internet Banking Yes
Age restrictions -
Cheque book facility -
Debit card -
BPAY -
GiroPost -
Phone access Yes
The Facts & Figures
Balance less than $1k (p.a.) -
Balance less than $5k (p.a.) -
Balance less than $25k (p.a.) -
Balance greater than $100k (p.a.) -
Min. balance -
Min. opening deposit -
Number of free elect transactions per month -
The ugly stuff: fees
Other bank ATM fee -
EFTPOS transaction fee -
Branch assistance fee -
* Important note: All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing.
Westpac says
An everyday transaction account if you prefer banking mainly via electronic channels.
Unlimited Westpac electronic transactions (i.e. Internet Banking, Automated Telephone Banking, ATMs and EFTPOS), $* flat monthly account service fee
Features and Benefits
Receive paperless estatements, Enjoy convenient ATM and EFTPOS access with Debit MasterCard enabling you to make purchases overseas, online and over the phone at ** million locations worldwide
Access Options Internet Banking, Automated Telephone Banking, ATM, EFTPOS
Pros
- Convenient
- time saving
- Saves $* a month on the standard Choice account
Cons
- Still charges $* per month
- which could be seen as a high fee for restricted access
- Fees each time you visit a Westpac branch
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