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Can I put a lock on my savings account until I reach a certain amount?

Posted by JettJacquet JettJacquet
Message 1 of 3 2,594 Views

I've been looking all over the Bankwest website and can't find any saving accounts that don't let you access the savings until you reach a specific amount. I'm a terrible saver and really need something like this to help me from spending my savings! Does anyone know if this exists with Bankwest?

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Re: Can I put a lock on my savings account until I reach a certain amount?

Posted by SarahF SarahF
Message 2 of 3 2,589 Views

Hi @JettJacquet,

 

This is a great question and something I will certainly pass onto our products team. Something that I've found helpful is taking off the savings account from online banking so you can't view it. That way you can still deposit into it however as it wont be on your online banking you can not withdraw from it. To arrange this you can call us on 13 17 19 and then when you want access again you will need to call us on 13 17 19 to add it back onto your online banking. ^Sarah

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Re: Can I put a lock on my savings account until I reach a certain amount?

Posted by cgm cgm
Message 3 of 3 2,580 Views

That's a handy tip @SarahFSmiley LOL

 

You may also want to consider a Bankwest term deposit @JettJacquet.  I don't think a term deposit is for me personally, however it may be the right option for your needs.

 

Have a read of this post - What incentive is there to choose a term deposit over an online savings account?

 

 

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