　　General Information of Westpac

　　Westpac Banking Corporation was founded in 1817 as the Bank of New South Wales, an Australian bank, and changed its name in October 1982 following the acquisition of the Commercial Bank of Australia. Westpac offers banking and wealth management services to consumers, businesses, and institutions.

　　Regulation of Westpac

　　Westpac Banking Corporation is currently regulated by ASIC in Australia and holds a full license under its authority and license, Regulation No. 233714.

　　Personal Business of Westpac

　　Westpac provides financial services to individual consumers in the form of bank savings accounts, home loans, credit cards, personal loans, international travel, insurance, investment programs, stock trading, and more. The types of personal bank accounts include daily accounts (which are suitable for young people or students under 21 years old, people over 55 years old or retired, and concession holders), savings accounts, term deposit accounts.

　　Business Services of Westpac

　　Westpac's services for business include bank accounts, savings accounts, credit cards, business loans, payments, business insurance, commercial invoicing, industry-specific banking, foreign exchange, and international money transfers. Commercial bank accounts include business accounts for businesses that transact primarily electronically (25 free employee assistance and checking transactions per month), business accounts for high volume transactions (60 free employee assistance and checking transactions per month for a $20 monthly fee), pay-as-you-go accounts ($0.50 per electronic transaction), foreign currency accounts, and specialty accounts. Savings accounts include business time deposit accounts, business cash reserve accounts, and business cash reserve accounts.

　　Corporate Services

　　Westpac's corporate services include corporate and institutional, transaction banking, financial markets, corporate & structured finance, trade and supply chain finance.

　　Interest Rate of Westpac

　　The interest rate for the Business Cash Reserve is 0.01%, which is calculated daily and paid monthly. Interest rate on Commercial Cash Reserve Bonus account without bonus is 0.01%, $0-$9,999 plus bonus is 0.01%, $10,000 or more plus bonus is 0.02%. The interest rate on the Business Term Deposit account is 0.05% between 1-3 months, 0.10% between 3-5 months, 0.25% between 5-10 months, and 0.25% between 10-60 months.

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