Savings and Everyday account for Teens

Cashback offer

Savings and everyday accounts for teens

Whether it’s your first job, saving for something big, or just managing everyday spending — these accounts are designed to help you build money skills with confidence.

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Earn up to

5.05

Total variable interest rate

1.75

Standard variable base rate

The total variable interest rate is a combination of:

Standard variable base rate: 1.75% p.a. (when no standard variable bonus rate applies)
Standard variable bonus rate: 3.30% p.a.

3 steps you must do each month to earn bonus interest^[#] on a Westpac Bump account:

Account balance must not fall below $0 at any time
Make at least one eligible deposit. Interest paid into the account doesn’t count
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.

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.

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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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Your card, your way - Spend your way with your debit card or phone to tap, shop and pay in-store or online.

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Get paid easily - Have your pay or allowance deposited straight into your account.

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Do all your banking in our award-winning app - Bank with ease in Australia's no. 1 app.^[#]

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No account opening or monthly fees - $0 Account-keeping fees on your account.

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Set up multiple savings goals in one account - Know how much you need to put away, adjust or top up your regular payments as you go.

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Put your savings on autopilot - Set recurring transfers, making it easier to achieve your savings goals.

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Make shared savings goals - Sharing your saving goals with others may motivate you to save even more.

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Award winning - Voted Canstar's Outstanding Value for Junior & Youth Banking 2024-2026 & WeMoney Winner 2025 for Youth Account of the Year.

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Features

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

Other fees and charges may apply

Please refer to the Terms and Conditions

Money can be withdrawn from a Bump savings account by:

Online transfer to a Westpac everyday account. Fees and charges may apply on a Westpac everyday account. The account can be held in the name of the child or a parent signatory. Transfers made by the child are subject to any Parental Controls.
Visiting a branch.

There are no fees for these withdrawals.

Other fees may be charged for banking services.

Services not available on a Bump account:

Direct debits
Periodical payments
BPAY®
Pay Anyone
Cheque withdrawals
ATM transactions
Telephone Banking for a parent signatory
Self-service Telephone Banking for children under 12.

What can a parent signatory do?

A parent or guardian with account signatory can view the account. There’s a limit of two signatories per Bump Savings account. It’s mandatory to have an account signatory on any account for children under 14.

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Westpac Bump fees

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 (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

Other fees and charges may apply

Please refer to the Terms and Conditions

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Westpac Choice Youth fees

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Explore our Security Hub

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Security

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:

Signatory access: branch and online access to account
Third party access: visibility of account online.

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:

Westpac Online Banking
Westpac Telephone Banking

to access their account online or over the phone.

Self-service Telephone Banking is not available and Parental Control is mandatory for children:

Under 12 for a Bump savings account
Under 14 for a Choice Youth everyday account.

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.

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Parental controls

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About you

Ages 14 - 17

You can open an account online. You can choose to give a parent or guardian access using Parental Control.

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Your identity

Your personal details:

Name and date of birth
Australian home address
Mobile number

Two forms of ID:

Australian birth certificate
Australian driver licence
Passport
Medicare card

Identification Checklist

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Open online or in branch

Ages 14 - 17

You can open an account:

Online, or
In branch (you'll need to attend in person)

Parent or guardian not a Westpac customer?

You can first open a Westpac Choice transaction account online, then return to open a Bump Savings account for your child.

Don’t have the required ID?

If you're an Aboriginal or Torres Strait Islander and don't have any of the required forms of identification, please call our Indigenous Call Centre on 1800 230 144 Monday to Friday 9am - 6.30pm ACST or visit your nearest branch.

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What you need to apply

How is bonus interest calculated and paid on my Westpac Bump?

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.

Do I get a card with the Westpac Choice Youth account?

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.

How can I share access to my accounts with my parents so they can help me with my banking?

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.

What are signatories and third parties?

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

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.

Are children subject to witholding tax if a TFN or TFN exemption isn't provided?

Yes. If a TFN or a TFN exemption is not provided, we’re required to withhold tax from any interest earned, even if the account holder is under 18. If you’ve previously linked an under 16 exemption to the account, we may still withhold tax if interest paid on the account exceeds certain thresholds. Find out more

What happens when I turn 18?

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&Save feature to help boost your savings.