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What's the difference between Bump and Life?

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.

Earn up to 5.20% p.a. on your savings* with Spend&Save bonus interest

How your interest adds up

Earn a standard variable base rate on your savings: 2.00% p.a.
Get a bonus each month you grow your savings:1 3.00% p.a.
Get a bonus for 5+ debit card uses a month:2
0.20% p.a.
Total interest including bonuses: 5.20% p.a.*

All interest rates are variable and subject to change. Spend&Save applies to eligible card purchases only and to balances held in Life accounts up to $30,000. The 0.20% p.a. bonus does not apply to amounts above that balance.
Find out more

Your new Life account can help you hit your savings goals

Set up to six savings goals
Saving for more than one thing? Bucket your savings into up to 6 different goals with just the one account.^

Put your savings on autopilot
Make saving easier by setting up recurring transfers from your Choice account after every payday.

Track your savings on the go
With the Westpac App, you can check your balance and savings progress anywhere, anytime.

Spend and save in one place to boost your bonus interest

Your Westpac Life account is a great way to store and build your savings. If it’s access to your everday money you want, consider opening a Westpac Choice account. With both accounts running together, you can give your savings an extra boost with variable bonus interest. Simply grow your Life account balance1 and make 5+ purchases each month2 with the debit card linked to your Choice account, and watch your savings grow.
Find out more

Get access to exclusive offers and discounts

Your Westpac Choice account is more than just a bank account – it also gives you easy access to exclusive discounts across a vast range of retailers. We’ve partnered with some major brands to provide you with savings across travel, entertainment, fashion, your everyday shopping, and more

Our range of discounts are regularly updated, to bring you seasonal and limited time offers.3 To find out what offers are currently available – simply sign in to Online Banking and go to Rewards & Offers

Fees & Rates

Westpac Life savings account $0
Westpac Choice bank account $5 (criteria for fee waiver below)

Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 621KB)

Want to build some serious money skills?

Want to know how superannuation works, what’s involved with doing a tax return or need some tips to set up a successful budget? We’ve teamed up with Year13 to build FinLit, to equip you with the knowledge you’ll need to navigate the world of money.

Start exploring

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.
^ 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.
* Total variable interest: total variable interest consists of two parts: Westpac Life variable interest and Spend&Save bonus variable interest. To earn the total variable interest, you must meet the criteria for both parts.


1.  Westpac Life variable interest: includes a standard variable base rate plus a variable bonus rate. To earn the variable bonus interest you must make a deposit to your Westpac Life account, ensure the account balance is higher at the end than the beginning of the month and keep the account balance above $0. Interest is calculated on the daily balance of your Westpac Life account and paid on the last business day of the month.  
2.  Spend&Save bonus variable interest:
  • You must be aged 18-29 with a Westpac Life and a Westpac Choice account – both in the same name. Joint accounts are not eligible.
  • If you have multiple Westpac Life or Choice accounts, only the earliest opened account is eligible.
  • You must make 5 eligible purchases with the debit card linked to your Westpac Choice account and have these settled (not pending) within a calendar month. The following transactions are ineligible: ATM transactions, PayID, BPAY, EFTPOS cash-out only transactions, direct debits and paying off a credit card account.
  • For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month. Bonus interest is calculated on the daily balance of your eligible Westpac Life account up to $30,000, and paid to your eligible Westpac Life account by the 20th day of the following month.
  • If your eligible Westpac Life account is closed before 21st day of the following month, the bonus interest will not be paid.
  • Only one Spend&Save bonus interest offer per customer.
  • Offer may be varied or withdrawn at any time in accordance with the Deposit accounts for Personal customers Terms and Conditions. (PDF 621KB)

3. Partner offers are subject to Terms and Conditions and may be varied or change at any time. Images are shown for illustrative purposes only.
Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit
Safe Online Banking guarantee: ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly. Refer to the Westpac  Online Banking Terms and Conditions (PDF 555KB) for full details, including when a customer will be liable.
Global ATM: A 3% Westpac Foreign Transaction Fee applies to overseas debit card withdrawals. A list of Global Alliance members is available. To ensure access to savings and/or cheque account funds when overseas obtain a Debit Mastercard®.