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Get a helping hand with your spending and saving

  • Learn smarter spending
    Shop in stores and get cash out with a Westpac Handycard 1. There’s also an optional Parental Control 2 feature in Online Banking 3, to help keep a look out on your spending and saving.
     
  • Set your own Savings Goals
    Saving for more than one thing? You can set up to six savings goals 4 in your Online Banking with just the one account and track them using our app on your phone. You’ll also earn bonus interest 5 each month you grow your balance.
     
  • Keep your money safe
    Keep tabs on your money anytime with our secure banking app that also lets you lock your Handycard or report it lost if you can’t find it 6. Your money is protected with our Fraud Money Back Guarantee 7.
     

$0 monthly service fee

There’s no monthly service fee on either your Westpac Choice bank account8 or your Westpac Bump Savings account.

There may be other fees and charges that apply in some circumstances – Please refer to the Terms and Conditions (PDF 1MB)


Banking made easy

Accessing your money

A good spending account should offer you easy ways of accessing your money when you need it. As well as your Handycard, you can use Cardless Cash9 to get cash out with just your mobile phone at any Westpac Group ATM10. If you’ve set up Parental Control, they’ll also be able to view and transfer money to your accounts in Online Banking or with our app.

 

Get $50 on us!

When you apply online or in branch by 28th January 2021 and deposit $500 and make 5 eligible purchases within 30 days. T&Cs apply.#

Make saving simple

Getting into good savings habits when you’re young can help set you up with good money skills for life. A Westpac Bump savings account can also give your savings a boost by paying you bonus interest when you grow your savings monthly. You can make it easy on yourself by putting your savings on autopilot with an automatic transfer from your spending account to your savings account.

 

Earn up to 1.00% p.a. variable interest rates

  • 0.55% p.a. variable base interest rate
  • 0.45% p.a. variable bonus rate when you grow your balance every month

How to get started

Open your accounts

We’ll need some basic details and to verify your ID (see below). When you’re filling in your form, make sure you select the ‘Westpac Choice’ tick box as well, so you get a Handycard with your account.

Set up Online Banking

Once you’re set up for Online Banking you can download the Westpac app and transfer money into your new spending and savings accounts. Want to set up Parental Control? You can set up access in Online Banking, through our app or by visiting a branch.

Activate your card

Your Handycard will arrive in the mail within two weeks. When you get it there will be instructions on how you can activate your card (it’s easy to do online and can be done in a couple of minutes).

What ID do you need?

So we can keep your money safe, we’ll need to check some of your ID before you can start using your account. The easiest way to do this is to head into a Westpac branch with your ID. This can include the following:
 

  • Australian birth certificate
  • Passport
  • Medicare

Fees & Rates

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
Account overdrawn fee N/A
$15
Dishonour of direct debits, periodical payment or cheques written N/A
$5
Overseas ATM cash withdrawal from a Global Alliance Partner ATM (for more information on Global Alliance Partners see Accessing your accounts overseas) N/A $0
Overseas ATM cash withdrawal 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  1.00% p.a.  
Standard variable base rate (when no standard variable bonus rate applies) 0.55% p.a.
Standard variable bonus rate 0.45% 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.


Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 1MB)

Smart money articles

Teaching your kids about money in the digital world

Some ways to teach kids about money in an increasingly cashless society.
 

Getting your kids into the savings habit

Goal jars, charts and more tips to kick start savings in your family.
 

Things you should know

Deposit Accounts for Personal & SMSF customers Terms and Conditions (PDF 1MB)

Westpac Debit Mastercard® Terms and Conditions (PDF 206KB)

Online Banking Terms and Conditions (PDF 1MB)

Find out what information you need to provide to become a customer (PDF 768KB)

Personal Telephone Banking Terms and Conditions (PDF 504KB)

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.

 

1. Debit Mastercard: You need to be at least 14 years of age, and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit Mastercard, apply for a Handycard to access your account.

World Mastercard®, Mastercard® and the Mastercard Brand Mark are registered trademarks of, and PayPassTM is a trademark of, Mastercard International Incorporated.

2.  Parental Control: parents or guardians must be an account signatory to have Parental Control. There’s a limit of two signatories per Bump Savings account. Parental Control does not apply to a child’s access to funds in branch, however a parent (or guardian) signatory must authorise branch withdrawals where a child is under 12. Child must be registered for Westpac Online Banking and Westpac Telephone Banking to access accounts online or over the phone.  For children aged 12 years and over: Parental Control is optional and access levels can be amended by the child at any time. For children under 12 years of age: Parental Control is mandatory, and self service Telephone Banking is not available.   

3. 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 313KB) for full details, including when a customer will be liable.

4. Savings Goals: Both an account holder and an account signatory (where applicable) can use the Savings Goals feature, including to view, add, edit and delete the savings goals on a Bump Savings or Westpac Life account.

5. Bonus interest: Payable each month that you; make a deposit to the account, ensure the account balance is higher at the end than the beginning of the month, and keep the account balance above $0. 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.

6. Card on hold: Available on personal credit and Mastercard® debit cards only. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.

7. Westpac Fraud Money Back Guarantee: Customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.

8.  Westpac everyday account: To open a Westpac Life account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking.  Fees and charges may apply on the everyday account.

9. Cardless cash: is available on eligible Westpac transaction accounts with a linked debit card. Get Cash limit of 3 withdrawals per day applies, subject to $500 daily withdrawal limit and $1,000 weekly withdrawal limit. Only available at Westpac Group ATMs in Australia. To access cardless cash on your mobile you must be registered to use Westpac Online Banking and download the Westpac Mobile Banking App. You’ll also need the Westpac Mobile Banking app (version 6.1 or above) installed on your iPhone.

10. 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®.

$50 Offer:  Fees and charges apply. Read the terms and conditions available at westpac.com.au before making a decision and consider whether the product is right for you. To be eligible for the $50 offer you must: open a new Westpac Choice account online between 7/10/2020 and 28/01/2021, or in branch if you’re under 30 years old; and deposit $500 and make 5 eligible card purchases within 30 days of account opening. Eligible card purchases are purchases made using your Westpac debit card linked to your Choice account and excludes ATM transactions and EFTPOS cash out only transactions. If eligible you will receive $50 into your Choice account within 45 days of opening. All account holders on the new Choice account must not hold or have held a Westpac transaction account, or received this offer at any time to be eligible. Offer is limited to one eligible account and is not available in conjunction with any other offer. 


 

Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit www.fcs.gov.au.