Westpac Securities Limited and Westpac Banking Corporation - Notification - N31462-N31463

Applicant(s)

  • Westpac Banking Corporation
  • Westpac Securities Limited

Notification number(s)

  • N31462
  • N31463

Summary

Westpac Securities Limited proposes to offer a pricing advantage to customers of Westpac Securities Limited (WSL) who use the Westpac Broking Trading facility provided by WSL (the Service) via the Internet on condition they have an existing or open a new Westpac Cash Management Account Investor Option (CMAIO), Westpac Max-i Direct account (Max-i Direct), Westpac Cash Management Account (CMA) or other specified deposit account, with Westpac Banking Corporation.

Westpac Banking Corporation (WBC) proposes to offer a higher interest rate for deposits in a Westpac CMAIO account (or other specified WBC deposit account) for WBC customers who also use the Westpac Broking trading facility provided by Westpac Securities Limited, via the internet and who have an existing or execute a new Direct Debit Request Service Agreement authorising WSL to arrange for amounts that become payable to WSL under the Service to be made by deduction from their CMAIO (or other specified WBC deposit account) and settle their securities transactions conducted under the Service by direct debit to their CMAIO (or other specified WBC deposit account).

Notifications

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ACCC correspondence

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