Bank accounts for kids and teens
You care about your child's money habits. Give them the sweet taste of freedom with their own transaction and savings accounts, and they could earn $50.
Why choose Westpac for Youth banking?
- No transaction or monthly service fees - other fees for services may apply
- Kid-friendly features to help keep their money safe
- Everyday and savings accounts with the flexibility to grow with them
- Go-anywhere account management via the Westpac App
- Kids 8 or over can access money anytime, anywhere with a Debit Card on their Westpac Choice Youth account
Under 18? You could get $50 on us
Open both a Choice Youth everyday account and a Bump savings account. Deposit at least $100 into your savings within 30 days, and we’ll give you $50. Ends 31/01/2026. New customers only. T&Cs apply.
Youth bank accounts for kids and teens
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YOUTH SAVINGS ACCOUNT
Help your child save from birth and up with the Westpac Bump savings account. They’ll get bonus interest every month they grow their savings.
Earn up to:4.30%p.a.Total variable interest rateWith a:1.75%p.a.Standard variable interest rate
To earn bonus interest over the month:
- Tick - Keep the account balance above $0 at all times
- Tick - Make a deposit into the account. Interest paid into the account doesn’t count
- Tick - The balance must be higher at the end of the month than at the beginning.
How interest and bonus interest is calculated in FAQs.
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YOUTH EVERYDAY ACCOUNT
Kids can manage their money with a Westpac Choice Youth everyday account. By linking a debit card, they can spend online and in-store.
Debit card age:8 YEARS+Australian residential address required. Other transaction accounts: eligibility age is 14 or older.
For parental control function on this account:
- Tick - Parents, grandparents, or guardians must be an account signatory
- Tick - Child must be registered for Online and Telephone Banking
- Tick - Mandatory for children under 12 and optional for those 12 and older.
Details on how Parental Control works in FAQs.
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YOUTH BANK AND SAVE BUNDLE
Under 18? Get $50 on us!We've made it simple for you to set up all the bank accounts your child will need in one go. Open a Choice Youth everyday account when you open their Bump savings account.
Debit card age:8 YRS+Linked to the Westpac Choice Youth accountEarn up to:4.30%p.a.Total variable interest rate on a Bump savings account
They’ll get the best of both worlds:
- Tick - Parental control function for your peace of mind
- Tick - Bonus interest on savings if they grow their savings each month
- Tick - Banking made simple with the Westpac App.
Details on Parental Control and interest rate calculations in FAQs.
Features for fun, safe and simple banking
Pocket money
Set up regular pocket money payments paid directly into their account.
Savings goals
Set savings goals with your kids that they can share with you to help boost their balance.
Secure banking
Kids can bank confidently with features and guarantees to keep their money safe.
Good habits
Help your child learn how to manage their money to get ahead and stay ahead.
They can manage their money with an award-winning youth account
Children 8 years and over can link a Debit Mastercard® to their Westpac Choice Youth account. It’ll help give a kick-start to their money skills with kid-friendly features to keep their money safe and secure.
The debit card is automatically linked when the account is opened, except for children under 14. For children 8-13, a parent or guardian must order their card separately.
Voted Canstar's Outstanding Value Junior & Youth Banking 2024
To receive Parental notifications, Parental Controls will need to be activated on the child’s account.
Frequently asked questions
Interest: is calculated daily on your account balance up to the second last business day of the month. Interest is paid into the account on the last business day of the month.
Bonus interest: is calculated after 11:59 pm on the last business day of the month. If you make transactions before this time, it might change whether you get the bonus interest.
We define a month as: from the end of the last business day of the previous month to the end of the last business day of the current month. By the end of the business day, we mean 11:59pm on any weekday, except weekends and national public holidays.
To use Parental Control:
- Parents, grandparents, or guardians must be an account signatory
- The child must be registered for Westpac Online Banking and Westpac Telephone Banking. They need this to access accounts online or over the phone.
For children under 12 years of age:
- Parental Control is mandatory
- Self-service Telephone Banking is not available.
For children aged 12 years and over:
- Parental Control is optional
- Access levels can be changed by the child at any time.
Parental Control doesn’t apply to a child’s access to funds in branch. However, a signatory must authorise branch withdrawals if the child is under 8 and doesn’t have a debit card.
When a child turns 14, it’s no longer mandatory to have a signatory on their account. The child can elect to have a signatory removed by visiting one of our branches.
When a child turns 18, all Parental Controls are automatically removed from their accounts.
Their Westpac Choice Youth account will automatically become a Westpac Choice account. The $5 monthly account-keeping fee will be waived up until 30, or if they meet one of the other fee waiver criteria.
Learn more about Westpac Choice
Their Westpac Bump account will automatically become a Westpac Life savings account. It has all the same benefits plus an extra Spend&Save feature to help boost their savings.
Learn more about Westpac Life
Help when you need it
Things you should know
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.
Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
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.
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