Frequently asked questions
To mark our 200th anniversary, Westpac will give every Australian baby born in 2017, $200 in our new Bump Savings account if they open the account and are identified by 31 May 2018. The $200 can't be withdrawn from the account until the child reaches the age of 16. Additional funds can be added to the account at any time and these funds can be withdrawn along with any interest earned.
The parent or legal guardian of any baby due by the 31st December 2017 with a permanent Australian residential address can register interest in the Bump account, which was launched on 8th April 2017.
No you don’t, you just need to be a parent or legal guardian to register your interest. We’d love you to register your interest or tell a friend. The $200 contribution in a Bump Savings account is open to all Australians babies, provided the baby is born between 1st January 2017 and 31st December 2017, has a permanent Australian residential address and by 31st May 2018 the Bump Savings account (launched on 8 April 2017) is opened in the child’s name and the child’s identity is verified.
If your baby is already born, you can go directly to a branch to open a Bump Savings account. You should only register your interest if your baby is due between now and 31 December 2017. Note: Your baby needs to be born in 2017 and will have up until 31 May 2018 to open the account and complete identification verification to be eligible for the $200 deposit in their account.
Registering your interest in the $200 deposit in a Bump Savings account should take just a few minutes online. You just need to enter a few details – your name and contacts, and your Bump’s details – so we can send you a reminder after your due date and outline the next steps.
Yes. As long as you’re the parent or legal guardian and the baby was born between 1st January 2017 and 31st December 2017, has a permanent Australian residential address, and by 31 May 2018 the Bump Savings account is opened in the child’s name and the child’s identity is verified.
Yes. It is one account per eligible baby, so for twins – if they’re born in 2017, have a permanent Australian residential address, each have a Bump Savings account opened in their name with their identity verified in-branch – then they’ll each receive the $200 deposit.
Registering your interest for the Bump Savings account with the $200 deposit from Westpac is only available for eligible babies born in 2017. However, you can still open a Bump Savings account for your other children by visiting a branch. They just won’t receive the $200 deposit.
No. Your expression of interest does not automatically open the account; we’ll be in touch after your due date to remind you to open the account.
If you’d like to start setting aside money for your child’s future right now, we offer savings accounts that can be opened online in minutes in the name of the parents and grandparents. You can also visit a branch or call the Customer Contact Centre for assistance with choosing the right account. As long as you’ve registered your interest, we’ll send you a reminder email after your due date. Please click here for a list of Westpac’s savings accounts that can be opened online.