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Practice makes perfect

Opening a bank account is an exciting first step towards financial independence, and a faster way to learn about spending is to do it and start early. 

Kids as young as 8 can now get a Debit Mastercard® to begin learning and practising good money habits safely and securely.

Kid-friendly features

Parents and guardians don’t need to worry, with features you can set up together in Online Banking via the Westpac App:

Weekly spend limit

Don’t spend it all at once. Change the limit as they get more experience with using their card for purchases. 

Card lock and unlock

Lost, stolen or just don’t know where they’ve put their card? Lock it until you find it or order a new replacement card.

Kid rated shopping

Keeps them safe when they’re out and about or shopping online. No accidental spending at adult-only sites or retailers.

Parental notifications

In-app Push notifications are sent to parents or guardians so they can support and guide children with their spending.

What type of account will they need?

They’ll need a Westpac Choice Youth everyday account to get a Debit Mastercard, but you might also like a savings account for them, keeping spending and savings separate. 
 

Can I open the account online?

Under 14 years old

A parent or guardian can open a Westpac Choice Youth account online by opening a Westpac Bump savings account at the same time.

 

Already have a savings account?

To open a Westpac Choice Youth account only, open the account at a Westpac branch.

14 years and over

Open a Westpac Choice Youth account online without a branch visit or assistance from a parent or guardian.

 


Need a savings account?

Open a Westpac Bump savings account at the same time as you open your Westpac Choice Youth account. Open both accounts now online

How do I order and activate a Debit Card online?

Upon opening a Westpac Choice Youth account, holders aged 14 and over will automatically receive a Debit Mastercard. Debit cards must be ordered separately for younger account holders aged 8 to 13.

1. Register for Online Banking

Both parents/guardians and the child (as the account holder) will need to be registered for Online Banking. Register now

2. Download the Westpac App

Parents/guardians should download the Westpac App to order the card on the child's behalf and access their child's card controls. Get the Westpac App

3.  Order a new Debit Card

Parents/guardians with third party access to a child's account can order the debit card by signing into the Westpac App, using their Online Banking, not the child's:

  1. Search for and then tap Family Hub
  2. Find the child's Westpac Choice Youth account
  3. Order Debit Mastercard.

4. Activate Debit Card

Upon receipt of the card, the child must sign in to Online Banking using their Customer ID and password to activate it. If you'd prefer your child not use Online Banking, the card can be activated at any branch.

Fees & Rates

  Fees
Westpac Bump savings account $0
Westpac Choice Youth bank account $0 (Account-Keeping Fee waived for under 30s)

Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 712KB)

Standard fees (fees may change) Bump savings account Choice bank account
ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) 
N/A $0
Overdrawn Fee N/A
$15
Overseas Withdrawal Fee from a Global Alliance Partner ATM (for more information on Global Alliance Partners see Accessing your accounts overseas) N/A $0
Overseas Withdrawal Fee from a non-Global Alliance Partner ATM
N/A $5
Transactions made in foreign currency, and the merchant or financial institution is located outside Australia N/A 3% of the AUD transaction amount
Transactions made in foreign currency, and the merchant or financial institution is located in Australia
N/A 2.2% of the AUD transaction amount
Telephone Banking withdrawal (staff assisted) N/A N/A
Branch staff assisted withdrawal N/A N/A

Funds can be withdrawn from a Bump Savings account via online transfers to a Westpac everyday account held by the Bump Savings account holder or an account signatory, or by visiting a branch.  There are no fees for these withdrawals.

Other fees may be charged for banking services.

Direct debits, periodical payments, BPAY®,, Pay Anyone, cheque withdrawals and ATM transactions are not available from a Bump Savings account.

Telephone Banking is not available for a parent signatory, and self service Telephone Banking is not available for children under 12.

Total variable interest rate Up to  4.50% p.a.  
Standard variable base rate (when no standard variable bonus rate applies) 1.75% p.a.
Standard variable bonus rate 2.75% p.a.  
How do I earn bonus interest on my Bump Savings account?

Bonus interest is payable each month that you:

  • Make a deposit to the account;
  • Ensure your account balance is higher at the end than the beginning; and
  • Keep your account balance above $0 at all times.

For bonus interest qualification, a month is the period from close of business on the last business day of the previous month to close of business on the last business day of the current month.

When is interest paid to my Bump Savings account?

Interest is paid on the last business day of each calendar month. Balances in your account on and after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.

Money tips and tricks

Manage your child's pocket money the simple way

Pocket money linked to chores works best when it's regular and consistent. In the Westpac App, you can set up, amend, put on hold, and track Pocket Money payments to your child's bank account. 

Financial literacy for kids and teens

We're here to help teach kids and teens how to better manage their money with simple lessons, tips and tricks to help them build good money habits to get ahead and stay ahead

Help for parents

Good money habits start at home. We give you the know-how to help you help your kids:
 

Frequently asked questions

  • If a child is under 14, we’ll require a parent or guardian to open and manage the account. The parent or guardian will be set up as a signatory, meaning they can act on behalf of the child in branch and within Online Banking.

  • If a child is 14 years or older, parental access is optional. If they would like a parent or guardian to have access to their accounts, please visit one of our branches, and we can help with the following:

            o   Signatory access: Branch and online access to account

            o   Third-party access: visibility of account online

A signatory is someone, such as parent, grandparent, or guardian, who can operate an account in branch. If the account holder is under 14, they are required to have a signatory on their account.

A third party is someone who has been granted access to an account in Online Banking. This person can see the account in their own Online Banking and depending on their permission level can either view the account only, or view and transact with the account. A third party may or may not be the same person as a signatory.

Access can be set up when an account is opened, or it can be added in branch.

Payment restrictions

Under 14s won’t be able to make BPAY® or international payments in Online Banking or the Westpac App. Those 14 or over will be able to use these services.
 

Daily Payment Limit

A Daily Payment Limit is the maximum amount of money that can leave an account in 24 hours to protect the account from theft and fraud.
 

For those under 14, a $50 Daily Payment Limit will be set on their Westpac Choice account. If you want to change the limit, you must do so at a branch or via Telephone Banking.
 

Those 14 and over can change the Daily Payment Limit in Online Banking or the Westpac App. Change Daily Payment Limit online.
 

Staying safe online

With 24/7 fraud monitoring of their account(s) and our Fraud Money Back Guarantee, we’ll repay any money missing due to fraud, as long as they’ve met our terms and conditions. How we protect your child

 

Protecting your child’s money

Deposits to Westpac everyday and savings accounts are guaranteed by the Australian Government up to a total of $250,000 under the Financial Claims Scheme. Find out how

 

Child safe culture

Child-safe practices are front and centre at Westpac as we're committed to growing our understanding of risks to children and young people who access our banking products and services. Learn more (PDF 484KB)

 

Gambling block

A gambling block is automatically set up on all debit cardholders under 18 years of age, so no transactions to merchants with the category Betting/Casino/Gambling are allowed. Block will switch off after the cardholder turns 18. Find out more

 

Push Notifications are messages that can be sent to your mobile device when money goes in and out of accounts you own or have third party access to. This free service can be set up in the Westpac App, in Online Banking, or in branch.

> Learn more about Push Notifications

For Westpac Choice Youth accounts opened from 1 June 2024.

Push notifications for any deposits to and withdrawals from the account will be sent, by default, to the parent or guardian signatory ‘s registered mobile device. The signatory must grant the appropriate permissions on their device to receive these notifications. The signatory can opt out within the Westpac App at any time. Please note the above push notifications will not be sent by default for any existing accounts opened prior to 1st June 2024.

To set them up, search notifications in the app and follow the prompts – choosing which accounts to monitor. You can give accounts nicknames to distinguish them from your own banking services. Here’s how to set up nicknames.

You can lock your child’s Debit Mastercard or report it lost or stolen in the Westpac App or Online Banking. 

In the Westpac App or Online Banking:
1. Find your child’s Choice Youth account

2. Select Family Hub

If you can’t see the controls in your Online Banking, you can visit us in branch with your child and your ID documents and we’ll set you up with access.

You can also change their Daily Payment Limit in branch or over the phone.

Check and change who has third party access

You may wish to chat with the account holder about who else has access to their account and how setting up these controls can help keep their money safe.

How to check and change third party access in Online Banking on a PC or laptop:

1. In your child’s Online Banking, select the account you want to check

2. Select third party access

3. You’ll see a list of people who can access the account.

If the account holder is happy to have anyone’s access removed or the type of access changed:

4. Select the arrow next to the person’s name

5. Select Remove > Confirm

6. Use Edit to change the type of access they have.

Alternatively, you can visit us in branch or call us.

From 25 March 2024 through Online Banking and from 6 April 2024 in branch, new applications for Handycards for Westpac Choice Youth accounts will not be accepted. However, existing Handycard holders may continue using their cards, order replacement cards, and renew their cards.

 

If a child already has a Handycard and is at least 8 years old, they can also order a Debit Mastercard, which will be linked to their Westpac Choice Youth account.

 

What’s the difference?

Put simply, a Handycard is a debit card that lets you pay for items in stores that accept eftpos or withdraw cash from an ATM. While a Debit Mastercard lets you do all that, plus make online purchases.

Daily Payment Limit
A Daily Payment Limit is the maximum amount of money that can leave an account in 24 hours to protect the account from theft and fraud. For those under 14, a $50 Daily Payment Limit will be set on their Westpac Choice Youth account. This can only be changed by a parent or guardian.

 

Weekly Spend Limit

A Weekly Spend Limit is the maximum amount of money that can be spent per week on a Debit Mastercard. For those under 14, a $50 Weekly Spend Limit will be set on their Debit Mastercard. 

The Weekly Spend Limit can only be changed by a parent or guardian as they’ll receive Push Notifications of the following activities involving the Weekly Spend Limit:
 

  • Changes to the limit amount
  • Disabling of the Weekly Spend Limit
     

Card transaction is declined as the Weekly Spend Limit has been reached.

In order for a parent/guardian with third party value access to update the Weekly Spend limit for their child, there are two steps that need to be taken prior:
 

  1. The child must be registered for Online Banking
  2. The Debit Mastercard must be activated.

Things you should know


Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.

 

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

Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Registered to BPAY Pty Ltd ABN 69 079 137 518.