The total variable interest rate is a combination of:
3 steps you must do each month to earn bonus interest[#] on a Westpac Bump account:
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.
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:[#]
Making sure your balance grows each month is all about building good savings habits. Want to learn more about how you can get bonus interest each month? Discover the easy steps you’ll need to follow.
Manage your money with a debit card
If you’re at least 8 years old, you can link a Debit Mastercard to your Westpac Choice Youth account. It’ll help give a kick-start to your money skills with kid-friendly features designed to keep your money safe and secure.
For kids 14 and older, the debit card is automatically linked when the account is opened. For kids aged 8-13, a parent or guardian needs to order their card separately. Find out more
| Standard fees (fees may change) | Amount |
| Account-Keeping Fee (usually $5) is waived for under 41s | $0 |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Direct Debit | $0 |
| Point of Sale (POS) transactions | $0 |
| ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) | $0 |
| Overdrawn Fee (for more information: Overdraw Preference Feature) | $15 Nil for Westpac Choice Concession and Westpac Choice where an account holder is under 18 years of age. This fee is not applicable to Bump Savings or Westpac Life. |
| Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement | 15.01% p.a. |
| Accessing your accounts overseas | $0 |
| Overseas Withdrawal Fee from a non-Global Alliance Partner ATM | $5 |
| Transactions made in foreign currency, and the merchant or financial institution is located outside Australia | 3% of the AUD transaction amount |
| Transactions made in foreign currency, and the merchant or financial institution is located in Australia | 2.20% of the AUD transaction amount |
| Standard fees (fees may change) | Amount |
| Account-keeping fee (monthly) | $0 |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Overdrawn Fee | N/A |
Money can be withdrawn from a Bump savings account by:
There are no fees for these withdrawals.
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Parental control and access by age
14 - 17: As the account holder you can choose to give your parent or guardian access to your account with the Parental Control function. If you’d like a parent or guardian to have access to your account, you’ll need to set that up. Please visit one of our branches and we can help you with:
Under 14: A mandatory Parental Control function gives your parent or guardian control of your account. This means they can act on your behalf in branch and in Online Banking.
How does parental control work?
To have Parental Control, a parent, grandparent, or guardian must be an account signatory. As the account holder, the child must also be registered for:
to access their account online or over the phone.
Self-service Telephone Banking is not available and Parental Control is mandatory for children:
Parental Control is optional for older children. Access levels can be changed in-branch 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 where a child is under 14, and a debit card isn't available.
Interest is worked out daily based on your account balance up to the second last business day of the month
Interest is paid to your account on the last business day of each month. Balances, including deposits made on or after the last business day of the month:
Won't count towards that month's interest
Will count for the next month's interest.
If you're 8 years or over, you can order a Debit Mastercard to link to your Westpac Choice account.
Once you receive your debit card, follow the activation steps to activate it in Online Banking or the Westpac App.
Are you under 14? As the cardholder, sign into the Westpac App or Online Banking using your customer ID and password to activate your card. A parent or guardian can then help you follow the card activation steps.
If you're under 14: a parent or guardian will need to open and manage your accounts. Your parent or guardian will automatically be set up as a signatory. This means they can act on your behalf in branch and in Online Banking.
If you're 14 years or over: you can open and manage your accounts yourself. If you’d like a parent or guardian to have access to your accounts, you’ll need to set that up. Please visit one of our branches and we can help you with:
Signatory access: branch and online access to accounts
Third party access: visibility of accounts online.
A signatory is someone, such as a parent, grandparent, or guardian, who can operate your accounts in branch. If you’re under 14, you’ll need to have a signatory on your accounts. They can help you look after your banking.
A third party is someone who has been given value access to your accounts in Online Banking. This person can see your accounts in their own Online Banking. Depending on their permission level, they can either:
View the accounts only – just look at your accounts activity
OR
View and transact with the accounts – pay for things or transfer money.
A third party may or may not be the same person as a signatory.
Access can be set up when an accounts is opened, or it can be added in branch.
When you turn 18, your Bump account automatically becomes a Westpac Life account. If you have a signatory on your account (such as your parents or guardians) they’ll be removed and your new Life account will be all your own. You don’t need to do a thing. The switch between accounts will happen automatically.
A Life account is like a grown-up version of your Bump account. It has all the same good things such as no account fees, personalised savings goals and a mobile app – plus an extra Spend&Savefeature to help boost your savings.
You could earn $50 cashback with a new account.
If you open a new Westpac Choice everyday account and an eligible savings account between 9 June and 30 September 2026, here's how you could get $50:[#]
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