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The important stuff

Bump Savings

Bump Savings is an account designed to help children and teens kick-start their savings.

A Choice transaction account can be opened at the same time for deposits, withdrawals, and a debit card for those aged 14+.

  • Earn up to 5.00% p.a. variable interest  (2.00% p.a. standard variable base rate plus + 3.00% p.a. variable bonus rate each month you grow your balance)^
  • $0 Account-keeping fee

  • $0 Transaction fees

  • Available for customers aged 17 and under

  • Set up and manage personalised savings goals (up to 6 savings goals per account)

  • Parental Control feature enables you to decide how much account access your child can have⁵

  • Government guarantee for account balances up to $250,000

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Westpac Choice

An everyday account to make deposits and withdrawals with access via a debit card

  • $5 Account-keeping fee, unless you're under 30, a fulltime tertiary student, new to Australia (for the first 12 months) or deposit at least $2,000 each month

  • If you're under 14, a parent or guardian will need to open your account at a Westpac branch. You don't need to attend in person as long as your parent or guardian has a correct and original form of identification for you. 

  • Access to your money with a Debit Mastercard®¹ and a range of digital wallets (including Apple Pay & Google Pay)

  • Access to exclusive offers and discounts

  • 24/7 Fraud monitoring

  • Fraud Money Back Guarantee

Things you should know
1 Debit Mastercard®: holders need to be at least 8 years of age and have an Australian residential address to be eligible for the card. 

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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.