Westpac Counters Impulse Spending with Impulse Saver

Media Release
28 March 2011


Westpac Counters New Zealand’s Impulse Spending with Impulse Saver -
A World-first product which enables customers to save with the click of a button

Westpac has launched an innovative impulse savings product to help New Zealanders save as impulsively as they spend. Impulse Saver, a free iPhone app enables customers to save denominations of their choice up to $50 with a simple click of a button.

The Impulse Saver app, believed to be the world’s first of its kind, is available free from the App Store via iPhone, Wi-Fi enabled iPod Touch or iPad devices. The iPhone app is simple to use, convenient and provides choice and opportunity. The set up process is straightforward and the service is encrypted and secure.

The launch of Impulse Saver follows a recent Westpac survey of more than 500 New Zealanders that showed Kiwis spend $16.1 million a day on impulse and less than half (49%) have a savings account.

David McLean, GM – Wealth, Insurance, Private and Institutional Banking, says the Impulse Saver for iPhone App makes it easy for users to save on a whim instead of simply spending on a whim.

“We all have our dreams, some big, some small – buying a home, a new pair of shoes, retirement – and those dreams can be a little easier to achieve if we saved more. Now when you’re waiting in line to pay at the petrol station or in the supermarket you can save up to $50 with a couple of clicks on the app. It doesn’t get much easier than pushing a button.”

Westpac’s iPhone app is available today.

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