Safe Custody

This change enables Westpac to focus on its core banking services, while ensuring Safe Custody services are delivered by a provider that specialises in secure vault operations.

Guardian Vaults is a specialist provider of high-security vault and Safe Custody services, operating secure facilities designed for the storage and protection of valuable items and documents.

The transition applies to:

• Melbourne – 360 Collins Street
• Sydney – 341 George Street
• Perth – 109 St Georges Terrace
• Adelaide – 97 King William Street
• Brisbane – 260 Queen Street

Each stage of transition will occur progressively by vault location later in 2026 as part of the broader implementation program. Customers will receive communication ahead of their location’s transition date with details of the required actions and timing. Times to be confirmed:

• Melbourne – expected April to June 2026
• Sydney – expected May to November 2026
• Perth – expected July to September 2026
• Adelaide – expected July to October 2026
• Brisbane – expected August to September 2026

Yes. Customers will continue to have secure access during the transition period.

No. Guardian will take over operation of existing vaults.

As part of the transition, existing Safe Custody arrangements with Westpac/BankSA will be closed. Customers can choose to either:

1. Close their current arrangement and remove their items, or
2. Set up a new Safe Custody arrangement directly with Guardian Vaults to continue using the service.

Further details about the steps required and the timing for each location will be provided directly to customers.

Customers who choose to set up an arrangement with Guardian at the same location will retain their existing box location under the Guardian terms and conditions of service.

As part of the agreement with Guardian, and with your consent, Guardian will retain your current existing lease fee and key deposits will transfer. The current annual storage fee will remain unchanged for the first renewal period. Guardian will provide details of any future pricing directly.

To support customers during the transition, any customer wishing to access their box or close their arrangement will be required to contact their branch to schedule an appointment. This ensures appropriate support is available at the time of their visit.

As part of the transition, all existing Safe Custody arrangements with Westpac/BankSA will be closed. Customers who do not wish to continue will be provided with clear instructions on how to access their Safe Custody box and remove their items before closure.

Customers who wish to continue using Safe Custody services will need to set up a new arrangement directly with Guardian Vaults. Westpac/BankSA vault team members are available to assist customers during the closure of their existing arrangement.

Westpac will contact affected customers directly with information regarding timing, access arrangements and next steps.

If you wish to move your Safe Custody arrangement earlier than the scheduled transition, please contact the branch or vault team where your Safe Custody box is located to discuss your options. Any new arrangement with Guardian Vaults will be subject to Guardian’s terms and conditions.

Yes. Due to high customer interest, customers are strongly encouraged to book an appointment before visiting.

Appointments help reduce waiting times and ensure customers receive timely service. Customers without an appointment may experience a wait before they can be served.

Westpac/ BankSA no longer offer new Safe Custody services and is closing its Branch Safe Custody Business. The announcement supports the bank’s focus on core banking services. This closure follows the decision to pause the sale of its Safe Custody services in August 2022.

Customers are being asked to act by the date shown in their letter.

If the Safe Custody facility is not closed and collected by the nominated date, we will write to customers again setting out next steps. This will include that the facility will be treated as unclaimed and managed as set out in the Safe Custody Terms and Conditions.

Dates remain subject to confirmation by location:

• VIC/TAS Branches – from August 2026 
• SA/NT branches - from August 2026 
• NSW/ACT branches – from Aug/Sept 2026 
• QLD branches - from Sept/Oct 2026 
• WA branches – from Aug/Sept 2026 

Yes, Safe Custody services will no longer be offered, and a location-based closure program is underway.

Services include safe custody document storage packets and boxes.

Westpac/BankSA is transitioning its Vaults Business to Guardian Vaults. This includes our secure safe deposit boxes with strong physical security and controlled access. Five major vaults in Perth, Adelaide, Melbourne, Sydney and Brisbane are included.

The options available to affected customers are:

1. Collect the Safe Custody contents in person at the relevant [Westpac/BankSA] branch and close their account.
2. Authorise someone to collect the contents on the customer’s behalf and close the account. The customer should contact the branch for details.
3. For document storage packets only, posting may be available where the required authority and indemnity process is completed.

Customers are requested to contact their branch to schedule an appointment. This ensures appropriate support is available at the time of their visit.

If customers are unable to attend the branch where their Safe Custody is held, in person, they may nominate another person to collect the items on their behalf.

The customer should visit another branch or contact the impacted branch for the authorisation process. 

For document storage packets only, posting may be available where the required authority and indemnity process is completed.

Westpac/BankSA will contact affected customers directly with information regarding timing, access arrangements and next steps.

If you wish to move your Safe Custody account earlier, please contact the branch team where your Safe Custody is located to discuss your options.

Appointments help reduce waiting times and ensue customers receive timely service. Customers without an appointment may experience a wait before they can be served.

If the customer is overseas, in regional Australia, or otherwise unable to attend the branch where their Safe Custody is held, they should contact the branch where their Safe Custody is held discuss their options. Depending on their Safe Custody arrangement, they may be able to nominate another person to collect the items on their behalf, subject to the required authorisation process. 

Customers can access the relevant Safe Custody terms and conditions on the Westpac and BankSA websites using the links below.

Westpac:

Document Storage Agreement (PDF 472KB)

Licence to Use a Safe Deposit Box (PDF 498KB)

Licence to Use Safe (Vault) (PDF 523KB)

BankSA:

Safe Custody Service - Conditions of use (PDF 523KB)