Summary

^ Bonus interest: You will be eligible for bonus interest if during the month (subject to transaction processing times):
a. your account balance has not fallen below $0; and
b. you (or someone on your behalf) have made a deposit of any amount; and
c. the 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 paid into your account does not qualify as a deposit in terms of bonus interest eligibility. 

* Youth Promotion Terms and Conditions

• To receive $30 you must meet the eligibility criteria and satisfy the requirements in these Terms and Conditions. This promotion commences 11/04/2024 and is available for a limited time only.
• Available to new or existing Westpac customers under 18 years of age (Customer), who have not previously held a Westpac Bump Savings and/or Westpac Choice Youth account.
• However, this promotion excludes Customers who, within the last three years, have:
  • opened and closed these accounts (and no longer hold any Westpac Bump Savings or Westpac Choice Youth account);
  • become a Customer of the Westpac Group and no longer hold any products or are no longer a Customer.
• During the promotion, the Customer must open the required account(s) so that the customer holds both a Bump Savings and Choice Youth account in the Customer’s name. The Customer must also deposit a cumulative minimum amount of $100 into their Bump Savings account within 30 days of opening the account(s).
• Deposit must be Customer initiated and does not include interest payments into your account.
• The $30 promotion amount will be paid into the Customer’s Westpac Choice Youth account within 50 days of meeting these Terms and Conditions. Both the Westpac Bump Savings account and the Westpac Choice Youth account must remain open during the period for the $30 promotion amount to be paid.
• Each eligible Customer is only entitled to one $30 promotion amount payment when the Customer has met all the requirements set out in these Terms and Conditions.
• In the event multiple eligible accounts are opened for the same Customer, the $30 promotion amount will be paid to the Customer’s Westpac Choice Youth account that was opened first.
• We reserve the right to withdraw, amend or extend this offer at any time.
• Deposit Accounts for Personal customers Terms and Conditions (PDF 1MB) apply to Westpac Bump Savings and Westpac Choice Youth accounts. Please read these terms and conditions carefully to determine whether these products are right for your needs and requirements.

 

5   Parental Control: Parents, grandparents, or guardians must be an account signatory to have Parental Control. There is a limit of two signatories per Bump Savings account. Child must be registered for Westpac Online Banking and Westpac Telephone Banking to access accounts online or over the phone.  For children under 14 years of age: Parental Control is mandatory, and self-service Telephone Banking is not available.  For children aged 14 years and over: Parental Control is optional and access levels can be amended by the child at any time. Parental Control does not apply to a child’s access to funds in branch, however a signatory must authorise branch withdrawals where a child is under 8 and a debit card is not available.