Bankwest Offset Transaction Account

Pair an Offset Transaction Account with your eligible home loan, use it like an everyday bank or savings account, and you could save on your home loan interest.
Category: Transaction & Savings Accounts  Last Updated June 3, 2026  Effective June 3, 2026

 General Lending Rates

No product information is currently listed. Please make contact with us for more information.

 Product Features

  • Card Access Additional Information: Have easy access to your money with a Platinum Debit Mastercard with no foreign transaction fees and no overseas ATM fees. It's available to Australian citizens and temporary or permanent residents over 14 (or over 11 if the account was opened prior to 18.3.2025) with an Australian residential address (limited exceptions may apply subject to conditions).
  • Card Access Additional Information: You may be able to create a single-use or multi-use virtual card to make purchases without using your regular card details.
  • Additional Cards Additional Information: You can have a maximum of two cards linked to an account.
  • Other Additional Information: You can bank over the phone.
  • Bill Payment Additional Information: You can use BPAY to quickly and easily pay your bills online.
  • Bill Payment Additional Information: You can set up direct debits.
  • Bill Payment Additional Information: PayTo is a service that's been developed by the NPPA (New Payments Platform Australia) that businesses, service providers and merchants can opt in to. Essentially, it's a digital way for customers to pre-authorise payments from their bank accounts in real time, for things like utilities, subscriptions and memberships.
  • Other Additional Information: You can open up to nine offset accounts with your eligible Bankwest home loan and use them as 'buckets' for the things you regularly spend money on and save for, while also saving on home loan interest.
  • Npp Payid Additional Information: Get paid faster and easier by sending your mobile number and email address instead of your BSB and account number.
  • Npp Enabled Additional Information: Get paid faster and easier by transferring funds using your mobile number and email address instead of your BSB and account number.
  • Other Additional Information: Cheque Access will no longer be available for Bankwest Offset Transaction Accounts issued on or after 16 June 2023. After 20 March 2024, new or replacement chequebooks will not be available on any Bankwest Offset Transaction Account (regardless of when the account was opened).
  • Digital Banking Additional Information: Bank on the go with the Bankwest App. Use Bankwest Online Banking (BOB) to access your money and manage your everyday banking subject to conditions of use. Limits may apply.
  • Digital Wallet Additional Information: Use Apple Pay for a smart, secure and easy way to pay from your Apple device.
  • Digital Wallet Additional Information: Use Google Pay from any compatible Android device to tap and pay on the go.
  • Digital Wallet Additional Information: Use Samsung Pay for a smart, secure and easy way to pay from your Samsung device.
  • Other Additional Information: Create a goal, set up regular deposits and track your progress in the app.
  • Other Additional Information: Backed by Mastercard 24/7 Zero Liability Protection.
  • Notifications Additional Information: Set up Alerts through the Bankwest App to get notified about important account activity.
  • Offset Additional Information: Balances held in the Offset Transaction Account will offset interest charges when linked to an eligible home loan. Interest on your loan is calculated daily, so the more you have sitting in your offset account on any given day, the less interest you'll be charged. The portion of your balance that is offset against your loan depends on the loan type. For variable rate home loans, 100% of the balance will be offset. For fixed rate home loans, 40% of the balance will be offset.
  • Other Additional Information: You can open single or joint offset accounts in the app if you have an eligible home loan. Additional eligibility criteria apply to joint accounts.
  • Other Additional Information: You can set up ongoing payments for things like bills or loan repayments.

 Product Eligibility

  • Min Age - 18. Additional Information: You must be 18 years or older.
  • Natural Person Additional Information: The Bankwest Offset Transaction Account is an account for personal customers who are 18 years or older, and for any application submitted on or after 4 May 2026 are not acting in the capacity of a trustee of any trust.
  • Other Additional Information: You may only open a Bankwest Offset Transaction Account if, at the time of opening the account, you request that it be linked to an eligible Bankwest home loan where: the Bankwest home loan has been disbursed; or a home loan application has been made but the home loan has not yet been disbursed. Additional eligibility criteria apply to joint accounts.
  • Other Additional Information: Customers with an existing eligible Home Loan can open a single or joint Offset account via the mobile app and the account is in the same name(s) as the borrower(s) on the home loan. If you open the account as part of your home loan application or over the phone, the maximum number of account holders on this account is limited to the number of account holders of the linked home loan. Additional eligibility criteria apply to joint accounts.
  • Other - 9. Additional Information: There is a limit of nine offset accounts that can be linked to one eligible loan account, whether as a single or joint account holder.

 Bank Fees and Charges

  • Overseas Atm Fee (Transaction), Amount: 0.00. Additional Information: No Bankwest-charged overseas ATM access fees. The overseas bank may charge a fee for using their ATM.
  • Foreign Transaction Fee (Transaction), Amount: Not Listed.. Additional Information: No foreign transaction fees.
  • Offset Fee (Periodic), Amount: 10.00. Additional Information: A monthly offset fee will be charged to the account on the first business day of each month, and is charged on each account open. The amount that will charge will depend on the home loan that this facility is linked to and will be stated on the loan contract. If the Offset is linked to a Home Loan that is part of the Complete Home Loan Package, then the Offset Fee is waived.
  • Search Handling Fee (Event), Amount: 40.00. Additional Information: For completion of any search conducted by the Bank (per search)
  • Cheque Stop Payment (Transaction), Amount: 15.00. Additional Information: $15 fee to stop payment on an issued cheque. This fee is $25 when payment is stopped on a range of cheques.
  • Atm Fee (Transaction), Amount: 0.00. Additional Information: No ATM fees when you use major bank ATMs Australia-wide.

 Limitations & Restrictions (Constraints)

  • Min Balance of 0.00 Additional Information: No minimum monthly deposit required.
  • Opening Balance of 0.00 Additional Information: No minimum deposit required to open the account.

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