Offset Transaction Account.
Make every dollar count
Every dollar helps you reduce interest on your linked home loan, the more you have in your offset, the more interest you could save.~~
Smarter banking
An offset account is like an everyday bank or savings account, but it reduces interest on your home loan.
Up to 100% offset
Get the full offset benefit with a variable rate loan – or 40% offset with a fixed rate loan.
Tap and pay straight away
Add your card to your digital wallet, then spend instantly with Apple, Google or Samsung Pay.
The account for paying less home loan interest.
Manage your money with offsets.
Link up to nine offset accounts to your Bankwest home loan and you could save on interest.
Money that’s always working for your home loan.
When linked to a Bankwest variable rate loan
Offset available
Offset available
What you get with a Bankwest bank account.
An app that keeps you in the know.
Accounts for at home and away.
A truly digital experience.
Security taken seriously.
Secure login
Access your account using biometrics (TouchID and FaceID) or PIN from your trusted device.
Lock your card from the app
Lock your card if you lose it or spot a suspicious transaction.
See if an account name checks out
When making a first-time payment, NameCheck shows you if an account name likely matches the account details based on our available payment data.
Stay in control
If you get notified of potential unusual activity on your account, you can handle it directly in the app.
| Bankwest Simple Home Loan | $10 per offset account |
|---|---|
| Fixed Rate Home Loan | $0 At the end of the fixed term a monthly offset fee of $10 per offset account will apply. |
| Complete Variable Home Loan | $0 |
| Complete Fixed Home Loan | $0 |
Have a home loan with us? Start saving on home loan interest.
Common questions.
An offset account is a bank account that can help reduce the interest you pay on your home loan. Any money you have in your offset account is ‘offset’ against your home loan balance. As interest is calculated daily, the more money you have in your offset account, the less interest you’ll be charged on your linked eligible home loan.
For more information, download the Mortgage Saver Offset Facility Customer Information Sheet (PDF).
Yes, you can only open and link up to nine offset accounts per eligible home loan. A monthly fee will apply to each account unless part of the Complete Home Loan Package or linked to a Fixed Rate Home Loan.
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 an eligible Bankwest joint home loan with the other applicant.
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.
~~ Offset Transaction Account
Offset Transaction Account must be held in the same name as the loan account. Maximum 40% offset is available with our Complete Fixed and Fixed Rate home loans. Other exclusions apply. Account holders must be 18 years or older. Other fees and charges may apply. Credit interest is not payable on this account. Where a monthly offset fee applies, it will apply to each offset account held. For offset accounts linked to a Fixed Rate Home Loan, no offset fee applies during the fixed term although a $12 monthly loan maintenance fee applies. At the end of the fixed term a monthly offset fee of $10 per offset account will apply.
* 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.
Platinum Debit Mastercard access
For this account, Platinum Debit Mastercard access is available to Australian citizens and temporary or permanent residents over 18 with an Australian residential address (limited exceptions may apply subject to conditions).
Lending criteria and eligibility
Fees and charges, apply for our home loans, including an annual package fee of $395 for the Complete Home Loan Package. Complete Home Loan Package consists of an eligible home loan, one eligible credit card per customer and up to nine optional Offset Transaction Accounts per loan.
Eligible products
Eligible products include our Complete Variable Home Loan, Complete Fixed Home Loan, Bankwest Simple Home Loan or Fixed Rate Home Loan.
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.
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.