Fee-exempt and linked accounts

Fee-exempt accounts

The Society offers a number of fee-exempt accounts (e.g. Deeming Saver Passbook Account). You should refer to the table in this booklet for details.

Linked accounts

Where you have a qualifying home loan or have term investments totalling $20,000 or more, you may link that loan or term investment to one savings or transaction account or sub account in the name of one or more parties to that loan or term investment.

You may not link your loan or term investment to a business account. Line of Credit Loans and Transactional Loans are also not eligible for linkage.

The linked account or sub account will be fee-exempt, except for:

• non-standard fees & charges; and
• where the linked account is a Flexible Loan Offset account, or an Interest Saver Loan, Westpac ATM fees will continue to apply for all transactions at Local Westpac ATMs and enquiries and rejections at Remote Westpac ATMs.

A qualifying loan or term investment in the name of A & B may be linked to a savings or transaction account in the name of A, in the name of B, or in the joint name of A & B. It cannot, however, be linked to an account in the name of A & C, or in the name of C only, as C is not a party to that loan or term investment.

If you wish to link an account or change your nominated account, you must call in at a branch and one of our counter staff will be pleased to assist.

If you do not nominate an account, we may, but are not obliged to, arrange this on your behalf by linking your loan or term investment to your All Purpose account (if you have one) or, another eligible account (if you do not).

It is your responsibility to ensure the nomination is in place; if not, the Society is entitled to levy appropriate fees and charges in accordance with this product disclosure statement.