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Working with Westpac
Accountants have a long tradition of helping nurture and grow New Zealand businesses. Westpac's partnership with Chartered Accountants Australia and New Zealand recognises this important role and provides members like you with exclusive banking benefits.
From a single branch in 1861, Westpac New Zealand now provides a full range of financial services for 1.3 million personal, institutional, business and agribusiness customers around the country. This means more than 150 years of continuous and loyal banking services to New Zealand communities.
Support and special offers
Westpac works alongside accountants to provide relevant solutions and advice through our dedicated national Professional Services team who have been operating at a local level for more than ten years.
Choices Everyday
This revolving credit facility sees home loan and everyday banking in one account, allowing all finances to be actively managed in one place and helping save on interest charges. What's more, it gives the freedom to repay chunks of the loan and mix and match various options to create an individual loan.
For new home loan lending over $100,000, Members will(1) receive tiered interest rate discounts dependent on whether their total loan size is under or over $500,000. In addition, Members will not be charged an establishment fee or re-documentation costs, and will(1) receive a cash contribution for new loans over $100,000.
Choices Fixed
Fix your interest rate and it will stay the same for the fixed rate term, even if interest rates in the market change – ideal if you like peace of mind about the amount of your ongoing home loan repayments. What's more, you can choose the term of the interest rate you pay from 6 months up to 5 years.
The loan can be split into different fixed rate terms or mix and match with floating and capped rates. There are also options to increase regular payments by up to 20% of the minimum repayment at any time during the term without break costs, lock in a fixed rate up to 60 days before drawing down the loan or your existing fixed rate expires. So it's all about certainty – with plenty of flexibility to help meet your needs.
For new home loan lending over $100,000, Members will(1) receive a tiered interest rate discount to standard Choices Fixed rates if their total loan size is under or over $500,000. In addition, Members will not be charged an establishment fee or re-documentation costs, and will(1) receive a cash contribution for new loans over $100,000.
Choices Floating
This option is all about flexibility. As well as paying a floating interest rate that may increase or decrease in line with the market, you can pay some or all of your loan and increase regular payments without any additional costs at any time.
What's more, you can switch some or all of your floating rate loan to a fixed rate at any time, mix and match options to create a loan that's individual to you, and choose the repayment structure that works best for you – Table, Recurring or Interest only.
For new home loan lending over $100,000, Members will(1) receive tiered interest rate discounts dependent on whether their total loan size is under or over $500,000. In addition, Members will not be charged an establishment fee or re-documentation costs, and may receive a cash contribution for new loans over $100,000 where new security is provided.
Contact Westpac at Charteredaccountants@westpac.co.nz or 0800 694 229 to find out the latest home loan discounts for Members.
See our current home loan interest rate options and more details on Westpac's home loan offerings.
(1)Westpac's home loan lending criteria and terms and conditions apply. Loan size is calculated as the total of all home loan lending per Member. The interest rate discounts are only available where the loan to value ratio is less than 80%. Members are eligible for a cash contribution when their total new home loan lending exceeds $100,000. Cash to be credited to Westpac transaction account on drawdown. Conditional on your loan and one bank account remaining with Westpac for the longest fixed rate period or 3 years, whichever is longer. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria. The interest rate discounts are subject to change or may be reassessed at an event of review or loan re-structure depending on the Member's total loan size. The discount does not apply to any home loan product when a special rate already applies to that product. Westpac New Zealand Limited.
Westpac's personal loans are personalised to your needs. With flexible repayment options, a competitive interest rate and the option of personal loan insurance cover. Whatever you need a loan for, Westpac will work with you to find a loan that suits. What's more, Westpac will waive the processing fee for Members.
Click here for the current personal loan rate and more information on personal loans.
Westpac's current personal loan lending criteria apply. Other service fees and charges apply. Westpac New Zealand Limited.
Online Saver
Online Saver offers a competitive rate of interest by saving online, regardless of the number of transfers made from the account. With no monthly account or transaction fees(1), interest is calculated daily on the full credit balance and paid monthly into the account – and Members will receive an interest rate premium(2) on Westpac's standard interest rate.
Online Saver PIE
In addition to the Online Saver benefits, Members on a higher income may pay less tax on returns from an Online Saver PIE account than on a regular savings account. Again, Members will receive a premium(2) on Westpac's standard rate of return for this product.
Online Bonus Saver
Earn a bonus interest rate and achieve long-term savings goals by minimising withdrawals and making regular deposits. There are no monthly account or transaction fees, and if at least one deposit and no withdrawals are made on or before the last business day of a month, bonus interest will be earned for that month. In addition, Members will receive an interest rate premium(2) on Westpac's standard interest rate.
Online Bonus Saver PIE
With all the benefits of Online Bonus Saver, Members on a higher income may pay less tax on returns from an Online Saver PIE account than on an Online Saver account. Again, Members will receive a premium(2) on Westpac's standard rate of return for this product.
Notice Saver PIE
Notice Saver PIE helps protect savings from impulse purchases and can enable financial goals to be reached sooner. Notice Saver PIE is designed to provide a competitive rate of return. Funds can be added to a Notice Saver PIE at any time and some or all of the funds can be withdrawn after the required notice is given. During the notice period a lower rate of return applies. Members will receive a premium(2) on Westpac's standard rate of return for this product.
A simple, straightforward way to invest for a fixed time frame – with terms agreed upfront. And, with a wide range of terms to suit any investment horizon, there's something for everyone. Simply put away a lump sum for a fixed term and earn a competitive fixed interest rate. Depending on the term, Members may have the option to have interest paid out as regular income, or leave it to grow – even better, Members will receive an interest rate premium(2) on Westpac's standard interest rate.
Term PIE
An investment in Term PIE works in a similar way to a term deposit however it could result in Members paying less tax on their returns. There's a choice of investment terms from 30 days to 5 years to suit individual financial plans and, depending on the term, Members have the option to be paid regular income from their investment or have the income compounded for faster growth. Members will receive a premium(2) on Westpac's standard rate of return for Term PIE.
Contact Westpac at Charteredaccountants@westpac.co.nz or 0800 694 229 to find out the interest rate premium for Members.
See our Westpac saving accounts or term investments for more information.
(1) Service fees still apply, for example clearance fees, online bill payments and use of other banks' ATMs.
(2) A premium interest rate of an additional 0.20% on top of the carded rate for one online savings account per member.
For Term Deposits and investments in Term PIE, the rate premiums will only apply to investments which are made by the Member after their Benefits have commenced. The rate premiums are subject to change. The premium does not apply to a product if a special rate already applies to that product.
To operate the Online Saver, Online Saver PIE, Online Bonus Saver, Online Bonus Saver PIE or Notice Saver PIE accounts, you must hold a Westpac transaction account. Any transfers from any of these five accounts can only be made directly to your transaction account. Online Saver PIE and Online Bonus Saver PIE are each offered under the Westpac Cash PIE Fund. Investments made in the Westpac Cash PIE Fund, the Westpac Notice Saver PIE Fund or Term PIE (each a "Fund") do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees any Fund's performance, returns or repayment of capital. You can get a copy of the current disclosure statement for Westpac New Zealand Limited and a term sheet for any of the Funds from any Westpac branch in New Zealand free of charge. Westpac New Zealand Limited.
Business Online Saver
With a competitive interest rate and no monthly account maintenance or online transaction fees, this account is ideal for storing future-allocated funds like tax, GST and PAYE payments. Interest is calculated daily on the full credit balance and paid monthly into the account, with Members receiving an interest rate premium on Westpac's standard interest rate.
To operate the Business Online Saver account, you must hold a Westpac business transaction account and be able to access your account online via Westpac Online Banking. Any transfers from your Business Online Saver can only be made directly to your business transaction account. The rate premiums are subject to change. Westpac New Zealand Limited.
A business overdraft can help smooth out cashflow shortages, unexpected expenses and manage payment cycles.
Members will receive a discount on Westpac's standard Business Overdraft interest rate, with no establishment fee for new Business Overdrafts.
Click here for more information on business accounts.
Westpac's current lending criteria apply. Other service fees and charges apply. Westpac New Zealand Limited.
Business Term Loan
This type of loan offers flexible, medium-to-long term financing options with repayment arrangements that match cashflow and future income. This enables long term funding to be separate from day-to-day cashflow or working capital requirements.
With a new loan or roll over of an existing loan, Members will receive a discount on Westpac's standard business term loan fixed interest rate, with no establishment fee for new business term loans.
Click here for more information on business term loans.
Westpac's current lending criteria apply. The interest rate discounts are subject to change. Other service fees and charges apply. Westpac New Zealand Limited.
Business Equipment Finance
Apply for finance for up to 100% of the GST exclusive price of a new asset and, in most cases, the asset purchased can be used as security of the loan. Repayments can be spread over the economic life of the asset and Members will receive a discount on Westpac's standard equipment finance interest rate.
Click here for more information on equipment finance.
Westpac's current lending criteria apply. This product is only available to businesses. The interest rate discounts are subject to change. Westpac New Zealand Limited.
Telegraphic transfers are the quickest and safest way of sending or receiving money from overseas as they are sent electronically and are authenticated messages. Members will receive a range of benefits in this area, including discounted foreign exchange rates according to transaction size and reduced fees for both inward and outward Telegraphic Transfers and bank drafts.
See our international payments and exchange rates pages for more information.
Contact Westpac at Charteredaccountants@westpac.co.nz or 0800 694 229 to find out the latest interest rate premiums and interest rate discounts for Members.
The discounted telegraphic transfers, bank draft fees and currency conversion packages are only available upon a Member request, and will apply upon completion of all standard documentation. The discounted outward telegraphic transfer fee will only apply to online requests via Westpac's electronic banking systems. The concessional currency conversion discounts do not apply to foreign cash exchange transactions. The rate discounts are subject to change. Westpac New Zealand Limited.
For all Members: All benefits are subject to the Member having a signed package agreement for either an individual or a firm, and are subject to change. Benefits will commence once you have received written confirmation from Westpac. Members who are individuals need to have their salary credited to a Westpac transaction account. You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge.
Members who have signed the old NZICA package agreement: You do not need to sign another package agreement. However, in order to be eligible for the new package benefits, you need to request a review of your existing package and agree to any changes that are made by Westpac.
Chartered Accountants Australia and New Zealand ABN 50 084 642 571 (Chartered Accountants ANZ) acts as a referrer of Westpac New Zealand Limited's (Westpac) products and services only. All services are provided by Westpac (or its third party providers), not by Chartered Accountants ANZ. Chartered Accountants ANZ is not a representative of Westpac and accepts no legal responsibility for any advice given by, or any act or omission of, Westpac. Chartered Accountants ANZ may receive revenue (for example, a referral fee) as a result of referrals made by Chartered Accountants ANZ to Westpac. If you require further information about our relationship, please feel free to contact Westpac or Chartered Accountants ANZ.
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