--- title: "Bankwest Offset Transaction Account — Bankwest" description: "Transaction & Savings Accounts from Bankwest. Rates, fees, features and eligibility as published under Australia's Consumer Data Right." canonical: https://www.cdrcompare.au/brands/bankwest/products/31de797c85b94a709de741c8b253dc17 source: "CDR Compare" language: en-AU last_updated: 2026-08-29T01:15:03.000Z --- # Bankwest Offset Transaction Account — Bankwest > Transaction & Savings Accounts from Bankwest. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare. **Transaction & Savings Accounts** The Bankwest Offset Transaction Account, when linked to an eligible Bankwest home loan, provides an interest offset facility and unlimited access to Bankwest services, including CommBank ATMs, Phone Banking and Online Banking. ## Apply Applications are handled by the provider: [Apply at Bankwest](https://www.bankwest.com.au/bank-accounts/offset) ## Fees | Fee | Type | Amount | | --- | --- | --- | | Overseas ATM Fee — No Bankwest-charged overseas ATM access fees. The overseas bank may charge a fee for using their ATM. | Transaction | $0.00 | | Foreign Transaction Fee — No foreign transaction fees. | Transaction | $0.00 | | Offset Fee — Charged monthly · 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. · Discount −$10.00 — If the Offset Transaction Account is linked to a Home Loan that is part of the Complete Home Loan Package, then the Offset Fee will be waived. (eligibility: Other: If the Offset Transaction Account is linked to a Home Loan that is part of the Complete Home Loan Package, then the Offset Fee is waived.) | Ongoing | $10.00 | | Search Handling Fee — For completion of any search conducted by the Bank (per search) | Event | $40.00 | | Cheque Stop Payment — $15 fee to stop payment on an issued cheque. This fee is $25 when payment is stopped on a range of cheques. | Event | $15.00 – $25.00 | | ATM Fee — No ATM fees when you use major bank ATMs Australia-wide. | Transaction | $0.00 | ## Features - **Card access** — Platinum Debit Mastercard (Have easy access to your money with a Platinum Debit Mastercard with no foreign transaction fees and no overseas ATM fees.) - **Card access** — Virtual Cards (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** — up to 2 (You can have a maximum of two cards linked to an account.) - **You can bank over the phone.** - **Bill payment (BPAY)** — BPAY (You can use BPAY to quickly and easily pay your bills online.) - **Bill payment (BPAY)** — Direct Debit (You can set up direct debits.) - **Bill payment (BPAY)** — PayTo (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.) - **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. ** - **PayID** (Get paid faster and easier by sending your mobile number and email address instead of your BSB and account number.) - **Real-time payments (NPP)** (Get paid faster and easier by transferring funds using your mobile number and email address instead of your BSB and account number.) - **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** (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** — Apple Pay (Use Apple Pay for a smart, secure and easy way to pay from your Apple device.) - **Digital wallet** — Google Pay (Use Google Pay from any compatible Android device to tap and pay on the go.) - **Digital wallet** — Samsung Pay (Use Samsung Pay for a smart, secure and easy way to pay from your Samsung device.) - **Create a goal, set up regular deposits and track your progress in the app.** - **Backed by Mastercard 24/7 Zero Liability Protection.** - **Notifications** — Alerts (Set up Alerts through the Bankwest App to get notified about important account activity.) - **Offset account** (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.) - **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.** - **You can set up ongoing payments for things like bills or loan repayments.** ## Eligibility - **Minimum age** — 18 years (You must be 18 years or older.) - **Individuals only** (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.) - **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.** - **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.** - **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.** — 9 - **Residency status** — Australian citizen or Australian permanent resident (Be an Australian citizen or Australian permanent resident. (Limited exceptions may apply subject to conditions.)) ## Constraints - **Opening balance** — $0.00 (No minimum deposit required to open the account.) ## More information from Bankwest - [Overview](https://www.bankwest.com.au/bank-accounts/offset) - [Terms & conditions](https://www.bankwest.com.au/bank-accounts/offset) - [Eligibility](https://www.bankwest.com.au/bank-accounts/offset) - [Fees & pricing](https://www.bankwest.com.au/bank-accounts/offset) ## Data provenance - Published by Bankwest under the Consumer Data Right - Product ID: `31de797c85b94a709de741c8b253dc17` - Last updated by the provider: 29 August 2026 - Source payload (JSON): https://www.cdrcompare.au/api/raw/bankwest/31de797c85b94a709de741c8b253dc17 - Provider page: https://www.cdrcompare.au/brands/bankwest - CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000029 --- Source: [CDR Compare](https://www.cdrcompare.au/brands/bankwest/products/31de797c85b94a709de741c8b253dc17) — product data published by Australian data holders under the Consumer Data Right. 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