Safe and secure banking for young people

Funds can be withdrawn from a Bump Savings account via online transfers to a Westpac everyday account held by the Bump Savings account holder or an account signatory, or by visiting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.

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.

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.