Bank accounts for kids and teens
You care about your child's money habits. Give them the sweet taste of freedom with their own transaction and savings accounts, and they could earn $50.
Open both now
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Why choose Westpac for Youth banking?

  • No transaction or monthly service fees - other fees for services may apply
  • Kid-friendly features to help keep their money safe
  • Everyday and savings accounts with the flexibility to grow with them
  • Go-anywhere account management via the Westpac App
  • Kids 8 or over can access money anytime, anywhere with a Debit Card on their Westpac Choice Youth account
  • Westpac Choice Youth account (with a debit card for children 8 and over) voted: Canstar's Outstanding Value for Junior & Youth Banking 2024-2026, WeMoney Winner 2025 for Youth Account of the Year.
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An account that works for your needs
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Cashback offer
A kid's savings and a youth everyday account
Get a Westpac Bump account to separate your savings from your spending. Set up Savings Goals and get bonus interest when you make regular savings.
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Offer
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Double your $50 when you bank and save with Westpac

Open a new Choice Youth everyday account and an eligible savings account together between 1 February 2026 and 30 September 2026, and here's how you can get $50:[#]

  • Deposit $50 or more into your new Choice Youth everyday account within 10 days.
  • We’ll add $50 to your savings account once you meet the criteria.
  • You must not have held any Westpac transaction account or savings account in the last 2 years.
Rates
Earn up to:
5.05% p.a.
Total variable interest rate
With a:
1.75% p.a.
Standard variable base rate

To earn bonus interest[#] over the month:

  1. Account balance must not fall below $0 at any time
  2. Make at least one deposit. Interest paid into the account doesn’t count
  3. Account balance on the last business day of the month is higher than the account balance on the last business day of the previous month.
Open now
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Find out more
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Cashback offer
A Teens savings and a youth everyday account
Get a Westpac Bump account to separate your savings from your spending. Set up Savings Goals and get bonus interest when you make regular savings.
icon
ice-cream
Offer
true

Double your $50 when you bank and save with Westpac

Open a new Choice Youth everyday account and an eligible savings account together between 1 February 2026 and 30 September 2026, and here's how you can get $50:[#]

  • Deposit $50 or more into your new Choice Youth everyday account within 10 days.
  • We’ll add $50 to your savings account once you meet the criteria.
  • You must not have held any Westpac transaction account or savings account in the last 2 years.
Rates
Earn up to:
5.05% p.a.
Total variable interest rate
With a:
1.75% p.a.
Standard variable base rate

To earn bonus interest[#] over the month:

  1. Account balance must not fall below $0 at any time
  2. Make at least one deposit. Interest paid into the account doesn’t count
  3. Account balance on the last business day of the month is higher than the account balance on the last business day of the previous month.
Open now
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Find out more
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Double your $50 with us!
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Cashback offer
Double your $50

When you bank and save with Westpac

Open a new Choice Youth everyday account and an eligible savings account together between 1 February 2026 and 30 September 2026, and here’s how you can get $50:[#]

  • Deposit $50 or more into your new Choice Youth everyday account within 10 days.
  • We’ll add $50 to your savings account once you meet the criteria.
  • You must not have held any Westpac transaction account or savings account in the last 2 years.

See all FAQs

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Find out more
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Features for fun, safe and simple banking

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Pocket money

Set up regular pocket money payments paid directly into their account.

Pocket Money & Chores

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Savings goals

Set savings goals with your kids that they can share with you to help boost their balance.

Savings Goals

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Secure banking

Kids can bank confidently with features and guarantees to keep their money safe.

Parental controls

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Good habits

Help your child learn how to manage their money to get ahead and stay ahead.

Money matters for kids

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They can manage their money with an award-winning youth account

Children 8 years and over can link a Debit Mastercard® to their Westpac Choice Youth account. It’ll help give a kick-start to their money skills with kid-friendly features to keep their money safe and secure.

The debit card is automatically linked when the account is opened, except for children under 14. For children 8-13, a parent or guardian must order their card separately.

Find out more

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Weekly spend limit

So they don't spend all their money at once. The limit can be changed as they get more experience.

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Card lock and unlock

Helps to keep their money safe if they’ve lost, misplaced or had their debit card stolen.

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Spending restrictions

To help protect you, we may decline some transactions on your Westpac Debit Mastercard based on the type of merchant. While this adds an extra layer of protection, it may not prevent all transactions with higher risk merchants.

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Parental notifications

Messages for parents or guardians about their account activity so you can guide and support them.

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Frequently asked questions
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Interest: is calculated daily on your account balance up to the second last business day of the month. Interest is paid into the account on the last business day of the month.

Bonus interest: is calculated after 11:59 pm on the last business day of the month. If you make transactions before this time, it might change whether you get the bonus interest.

We define a month as: from the end of the last business day of the previous month to the end of the last business day of the current month. By the end of the business day, we mean 11:59pm on any weekday, except weekends and national public holidays.

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How is interest and bonus interest calculated?

To use Parental Control:

  • Parents, grandparents, or guardians must be an account signatory
  • The child must be registered for Westpac Online Banking and Westpac Telephone Banking. They need this to access accounts online or over the phone.

For children under 12 years of age:

  • Parental Control is mandatory
  • Self-service Telephone Banking is not available.

For children aged 12 years and over:

  • Parental Control is optional
  • Access levels can be changed by the child at any time.

Parental Control doesn’t apply to a child’s access to funds in branch. However, a signatory must authorise branch withdrawals if the child is under 8 and doesn’t have a debit card.

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How does Parental Control work?
When a child turns 14, it’s no longer mandatory to have a signatory on their account. The child can elect to have a signatory removed by visiting one of our branches.
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What happens to their bank or savings account when a child turns 14?
When a child turns 18, all Parental Controls are automatically removed from their accounts.

Their Westpac Choice Youth account will automatically become a Westpac Choice account. The $5 monthly account-keeping fee will be waived up until 41, or if they meet one of the other fee waiver criteria.

Learn more about Westpac Choice

Their Westpac Bump account will automatically become a Westpac Life savings account. It has all the same benefits plus an extra Spend&Save feature to help boost their savings.

Learn more about Westpac Life
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What happens to their bank or savings account when a child turns 18?
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Help when you need it
Money matters for kids
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Handy guides
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Things you should know
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Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.

Debit Mastercard®: Westpac Choice Youth account, the eligible card age is 8. For any other transaction account, the eligible card age is 14. You must have an Australian residential address.

Savings Goals: Both an account holder and an authorised user can use the Savings Goals feature, including to view, add, edit and delete the savings goals on a Westpac Life or Bump account.

For more information about each bank account and the specific product disclosures, please go to Westpac Choice Youth  or Westpac Bump savings.

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