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Hero Saver - How are withdrawals defined?

Posted by kq888 kq888
Message 1 of 2 937 Views

Hi Bankwest!


Just wondering about the term 'withdrawal' - does this mean if i transfer money out of the account?


if i transfer $3000 into the hero saver account from my transaction account but then i transfer $500 from my hero saver back to my transaction account does this count as a withdrawal and mean i won't be eligible for bonus interest that month?


Or is the bonus interest calculated from the last date no wthdrawals occured?

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Re: Hero Saver - How are withdrawals defined?

Posted by MegB MegB
Message 2 of 2 926 Views

Hi @kq888, a withdrawal is considered any funds leaving the account. So if you transfer $500 from the Hero Saver (regardless of the deposits made), you won't be eligible for the bonus saver for that month. 

The interest is calculated daily and credited on the first business day of the following month. I hope this helps!

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