Westpac
Starting out
Get them
started with a
Junior Account
As at 30 June 2015
Plant the banking seeds and watch them
grow.
Remember how exciting it was to get
your first savings account. It’s not
about how much they save.
Saving plants the seeds of some
important life skills like planning,
setting goals, and thinking
responsibly. So get them started and
watch them grow!
Contents
04 Junior Accounts
06 Your choice of savings accounts
08 Managing a Junior Account is easy
10What do I need to bring into branch to
open an account?
11 Application form
3
Junior Accounts
Because Junior Accounts are all about
encouraging little savers, we make saving
easier for them. Our Junior Accounts offer:
–– no transaction or account maintenance fees*
–– no ATM card, to encourage saving
–– regular interest based on account type chosen
–– security: an authorising adult acts as a signatory for the child
–– c
ontrol: withdrawals can only be made in-branch by the
authorising adult.
* For persons under 19 years old. Service fees may still apply e.g. cheque clearance fees. Once
the person turns 19, normal Simple Saver, Online Saver or Online Bonus Saver transaction fees,
account maintenance fees, service fees and other terms and conditions will apply.
Westpac also has some great ways of making saving fun
for kids, with a little help from Harry the Helicopter.
Harry the Helicopter moneybox
When you open a Junior Account, you’ll receive a Westpac
Rescue Helicopter moneybox – better known as Harry the
Helicopter! Having their own moneybox is a great way to
encourage kids to save at home.
4
5
Your choice of
savings accounts
To open a Junior Account, you can choose from:
–– Simple Saver
–– Online Saver*
–– Online Bonus Saver*
Simple Saver
Currently our most popular account for kids. With a
Simple Saver bank account, you’ll earn interest every
month on every dollar you save.
Features
–– No monthly account maintenance fee.
–– No restrictions around how often you deposit or withdraw
money each month - though regular deposits are the best
way to save!
–– Earn the same interest rate every month, regardless of your
account balance.^
–– Check your balance quickly and easily with phone or
Online Banking, or at any branch.
–– You can access your money for no charge at any
Westpac branch.
^
Interest is calculated on your daily balance, and is paid (less withholding tax) into your Simple
Saver account on the last business day of each month. Subject to rate changes.
* To operate the Online Saver and Online Bonus Saver account, you must hold a Westpac
transaction account. Any transfers from your Online Saver or Online Bonus Saver can only
made directly to your transaction account. Branch transactions are not available on
online savings accounts.
6
Online Saver
Earn competitive interest in an online savings account.
Features
–– Check your balance and easily transfer balances through
Online Banking or Phone Banking, 24 hours a day, 7 days
a week.*
–– No set investment term so you can access your money
when you need it.
–– No minimum balance is required.
–– No monthly account maintenance fee or ‘online’
transaction fees.
Online Bonus Saver
Earn a bonus interest rate with this online savings account
by making one deposit and no withdrawals each month.
Features
–– Competitive base rate and bonus interest when you make
at least one deposit and no withdrawals in a month.
–– Leave the interest in your account and earn interest on your
interest.
–– Manage your funds with Online Banking or Phone Banking,
24 hours, 7 days.*
–– No minimum balance is required.
–– No minimum deposit amount to earn bonus interest.
–– No monthly account maintenance fee or online transaction
fees.
*To operate the Online Saver or Online Bonus Saver account, you must hold a Westpac transaction
account. Any transfers from your Online Saver or Online Bonus Saver can only be made directly
to your transaction account. Branch transactions are not available on online savings accounts.
7
Managing a Junior
Account is easy
Junior Accounts are ‘Agent Transacts For’
accounts. This means the account is
–– Set up by a parent or guardian
–– Set up in the child’s name
–– M
anaged by a parent or guardian acting as an agent for
the child.
Online Management
Managing your Online Saver or Online Bonus Saver
account online is free and helps you keep track of your
savings.
–– To make deposits into your Online Saver or Online Bonus
Saver account you can transfer funds using Online Banking
or Phone Banking, or set up an automatic payment, Salary
Splitter or Sweep Over to regularly deposit funds from
another account.
–– T
o withdraw money from your Online Saver or Online
Bonus Saver account, you can make an electronic transfer
to your Westpac transaction account, free of charge. Funds
transferred from Online Saver or Online Bonus Saver into
your Westpac transaction account are cleared funds and
can be withdrawn immediately.
–– Account statements will be sent to you every six months
or can be stopped if you prefer to get your account
information online.
8
Transaction accounts
To operate the Online Saver or Online Bonus Saver account,
you must hold a Westpac transaction account. Our Electronic
account is a popular option; it’s an easy and cost-effective
way to do your internet banking.
Using both a transaction account and savings account in
tandem is great for teaching kids about the concept of savings
and spending money.
Multiple accounts
You can open two Junior Accounts per child. You might
choose to have a Savings account and a Transaction account
for them, or even have two Savings accounts to help them
save for different goals.
Planning what to save for
You can choose to set up accounts that are specifically for
their own savings, or perhaps an account that is for their future
education costs or a large purchase like a computer.
Automatic payments
You can set up automatic payments into your child’s saving
account, this is especially important for Online Bonus Saver.
This means you can always make at least one deposit each
month to help them get their bonus interest.
To help you get started, we can set up one automatic payment
from another Westpac account free of charge.
9
What do I need to
bring into branch to
open an account?
Make sure you bring proof of identification
for yourself, your child and documentation
that proves your relationship. For example
–– your child’s passport or New Zealand birth certificate
–– your passport or NZ drivers’ licence.
You’ll need copies of suitable identification for each new
signatory/Authoriser. Please refer to Westpac’s list of
acceptable verification documents available at
www.westpac.co.nz/AML.
If you are the child’s parent, the child’s birth certificate (with your
name on it) will prove your relationship. However, if you are the child’s
legal guardian, you will need to bring documented proof of this.
Also don’t forget to get an IRD number for your child and let us know
what it is, because this will help maximise the amount of interest
your child can earn. If we don’t have an IRD number we are required
to deduct tax at the higher default tax rate.
10
Junior Accounts
Opening ‘Agent Transacts For’ (ATF) Accounts for Personal Customers
Westpac use only
Authority no.
Date DAY / MONTH / YEAR
Account
number
,
.....................................................................................................................................................................................................................................................................................
A:Details of child
Principal
* This is for the Government’s
Resident withholding Tax
(RWT). If you don’t tick
anything, or don’t supply an
IRD number, we will use the
higher default tax rate
^You will be a US citizen
if you were born in the
US or have acquired US
citizenship, unless you have
formally renounced your US
citizenship
˜ The country listed will
determine the tax rate
applied to your products.
Please contact your tax
advisor if you are unsure
° If you are a US citizen or
tax resident, the FIN section
must be completed with your
social security number or
individual tax identification
number.
Mr
Miss
First name(s)
Surname
Home address NUMBER & STREET
SUBURBTOWN/CITY
Postal address (if different from above) NUMBER & STREET/BOX NUMBER
SUBURB
TOWN/CITY POSTCODE
Phone: 0-
Date of birth DAY / MONTH / YEAR
ID type
ID no.
Expiry
IRD number
*Tax rate (tick one circle)
Are you a US citizen?^
Yes
Main country of tax residency˜
10.5%
17.5%
30%
DAY
33%
/
MONTH
/
YEAR
other: % (specify)
No
THIS IS THE MAIN COUNTRY WHICH HAS THE RIGHT TO TAX YOUR WORLDWIDE INCOME
Additional country(s) of tax residency (if any)
Foreign Tax Identification Number(s)° (FIN)
LIST THE ADDITIONAL COUNTRY(S) OF WHICH YOU ARE A TAX RESIDENT
YOUR IDENTIFICATION NUMBER FOR TAX PURPOSES IN A PARTICULAR COUNTRY
.....................................................................................................................................................................................................................................................................................
B:Details of
Mr
Mrs
adult(s)
First name(s)
Agent(s)
Relationship to child
Miss
Ms
Other (please specify)
Surname
Home address NUMBER & STREET
SUBURBTOWN/CITY
Postal address NUMBER & STREET/BOX NUMBER
SUBURB
TOWN/CITY POSTCODE
Phone: daytime 0-
home 0-
Mobile
Fax 0-
Email
Date of birth DAY / MONTH / YEAR
Occupation
ID type
ID no.
Expiry
DAY
/
MONTH
/
YEAR
ID type
ID no.
Expiry
DAY
/
MONTH
/
YEAR
Signature
Date
DAY
/
MONTH
/
YEAR
By signing you are bound by the conditions on the reverse and Westpac’s general terms and conditions.
.............................................................................................................................................................................................................................
Mr
Mrs
Miss
Ms
Other (please specify)
First name(s)
Surname
Relationship to child
Home address NUMBER & STREET
SUBURBTOWN/CITY
Postal address NUMBER & STREET/BOX NUMBER
SUBURB
TOWN/CITY POSTCODE
Phone: daytime 0-
home 0-
Mobile
Fax 0-
Email
Date of birth DAY / MONTH / YEAR
Occupation
ID type
ID no.
Expiry
DAY
/
MONTH
/
YEAR
ID type
ID no.
Expiry
DAY
/
MONTH
/
YEAR
Signature
By signing you are bound by the conditions on the reverse and Westpac’s general terms and conditions.
Date
DAY
/
MONTH
/
YEAR
.....................................................................................................................................................................................................................................................................................
C:Account Selection
Select saving account type
Simple Saver
Online Saver
This tells us how people can
operate the above accounts
account that has no transaction and account maintenance fees for children under 19 years. For other options please
talk to your Westpac representative.
Select transaction account type
D:Rules
Online Saver PIE
Online Bonus Saver
Online Bonus Saver PIE
T
o operate an online account you must hold a Westpac transaction account. Westpac Electronic is the transaction
Westpac Electronic
ACCOUNT NAME
Please tick just one box. If you don’t tick anything, we’ll assume adult(s) can sign by themselves.
Adult(s) can sign by themselves OR
Adults must sign together
.....................................................................................................................................................................................................................................................................................
E:Declaration
I/We:
• agree to be bound by the terms and conditions set out in this application in addition to any other conditions which may apply
• acknowledge having been provided with the Westpac General Terms and Conditions brochure and agree to be bound by the terms set
out in the brochure as amended or replaced from time to time
• agree to read the General Terms and Conditions brochure as it contains important statements about our rights and obligations.
• certify that all information supplied in this application is true, correct and complete in every respect and understand that if it is not true,
correct and complete, this application may be declined and/or I/we may be liable to Westpac.
You authorise:
• the signatories named in this authority to operate this account(s) and do everything relating to your relationship with Westpac for this
account(s) (this is called the banker/customer relationship, and as provided in our “general terms and conditions”)
• other people to be added to or removed from this authority
• this authority to apply to the accounts overpage – subject to your signing rule – and nobody can delegate the authority you have given
them.
Receiving and acting on instructions by fax, phone, electronically or other means
As part of doing business, Westpac may communicate with you by fax, phone, electronically and may accept telephone, facsimile, electronic or
other instructions in the course of the banker/customer relationship. However, Westpac:
• is not obliged to accept them
• will not be liable to you or any other party if the instructions are unauthorised, forged or fraudulently given and Westpac could not have
reasonably detected that from the instructions received.
Indemnify Westpac
To the maximum extent permitted by law you will indemnify Westpac for its losses in acting on such instructions.
Adding or removing people to/from the authority
Additional authorised persons may be appointed and any authorised person may be removed only by notice in writing to Westpac signed in the
same manner as this form
.....................................................................................................................................................................................................................................................................................
F:Acceptable
forms of identification
Child
One of:
– Passport
– New Zealand Birth Certificate (if you are the child’s parent)
– Documented proof of guardianship (if you are the child’s legal guardian)
Parent/Guardian
Please refer to Westpac’s list of acceptable identification documents available at www.westpac.co.nz/AML.
.....................................................................................................................................................................................................................................................................................
Westpac use only
Receiving branch no.
Branch staff salary no.
Support centre salary no.
Applications for all Westpac services are subject to our standard criteria. Westpac New Zealand Limited
72454WP-9 07-15
The information in this brochure is current as at 30 June 2015, and may vary from
time to time. Terms, conditions, fees and charges apply to Junior accounts. For
more details visit westpac.co.nz. Reference to non-Westpac websites are provided
for your convenience and Westpac accepts no responsibility for the availability
or content of such websites. 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.
Westpac New Zealand Limited.
72454WP-9 07-15