A saving and an everyday kids bank account
Learn to budget and spend your money wisely with a Westpac Choice Youth everyday account while you master your savings with a Bump savings account.
Get the best of both worlds when you spend and save
Pay no fees
$0 monthly fees3 on both accounts, so every dollar will help your savings grow.
Rewards for savers
Make regular deposits to grow your savings and get rewarded with bonus interest1.
Keep tabs on spending
Bank easily using your phone, tracking savings and spending in the Westpac App.
Exclusive offers and discounts
We’ve partnered with major brands to help you save – think movie tickets, fashion and more.
Interest rates
On your Bump savings account earn interest of up to:
4.75% p.a. Total variable interest rate1 |
1.75% p.a. Standard variable base rate |
| The total variable rate is a combination of: | |
|---|---|
| Standard variable base rate (when no standard variable bonus rate applies) | 1.75% p.a. |
| Standard variable bonus interest rate2 | 3.00% p.a. |
Manage your money with a Debit Card
If you’re at least 8 years old, you can link a Debit Mastercard®7 to your Westpac Choice Youth account, giving a kick-start to your money skills with kid-friendly features that will keep you 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.
How do I open a kids savings and everyday account?
You can open both accounts online now. As the account holder you can choose to give your parent or guardian access to your account with the Parental Control function.
To have Parental Control, parents, grandparents, or guardians must be an account signatory. As the account holder, the child must be registered for Westpac Online Banking and Westpac Telephone Banking to access accounts online or over the phone.
Self-service Telephone Banking is not available, and Parental Control is mandatory for children:
- Under 12 for a Bump savings account
- Under 14 for a Choice Youth everyday account.
Parental Control is optional for older children, and access levels can be amended in-branch 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 where a child is under 14, and a debit card isn't available.
Your personal details:
- Name and date of birth
- Australian home address
- Mobile number
Two forms of ID:
- Australian birth certificate
- Australian driver licence
- Passport
- Medicare card
You’ll need a parent or guardian to open your accounts with you. A mandatory Parental Control function gives your parent or guardian control of your account if you’re under 14 (Choice Youth account) or under 12 (Bump savings account).
To have Parental Control, parents, grandparents, or guardians must be an account signatory. As the account holder, the child must be registered for Westpac Online Banking and Westpac Telephone Banking to access accounts online or over the phone.
Self-service Telephone Banking is not available, and Parental Control is mandatory for children:
- Under 12 for a Bump savings account
- Under 14 for a Choice Youth everyday account.
Parental Control is optional for older children, and access levels can be amended in-branch 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 where a child is under 14, and a debit card isn't available.
To open the account online now:
Your parent/guardian must be at least 18 and a Westpac customer.
If they’re not a customer, they could open a Westpac Choice transaction account online before opening your account. Otherwise, to open your account, they’ll need to head into a Westpac branch.
Your personal details:
- Name and date of birth
- Australian home address
- Mobile number
Two forms of ID:
- Australian birth certificate
- Passport
- Medicare card
As the parent or guardian to a:
Child under 14
You'll need to open the account for your child. Please follow the process outlined under the 'I'm under 14' tab. Accounts for children under 14 can be opened online if a parent or guardian is at least 18 and a Westpac customer. Otherwise, the account will need to be opened at a branch.
NOTE: If you choose to open an account for a child under 14 at a branch, the child doesn’t have to attend in person.
Child aged 14 – 17
The child can open the account themselves. Please follow the process outlined under the 'I'm 14-17' tab. A child aged 14-17 can open their account online or at a branch.
Don’t need both types of kids bank account?
Get an everyday account to manage your money
If your savings are sorted and you need a transaction account, open a Westpac Choice Youth account with a Debit Mastercard® to get cash out at ATMs or spend online or in-store.
Set your sights on savings with a Bump account
Do you already have a transaction account or just want to concentrate on saving? Open a Westpac Bump account to separate your savings from spending and build good money habits.
Get the Westpac App for even easier banking
View and transfer funds fast
Quick Balance lets you view the balance of three main accounts and quickly transfer money without signing in.
Set and track savings goals
Set up to 6 savings goals for things that matter to you, like saving for a new bike, clothing or holiday spending money. You can even share goals with family and friends to boost savings, tracking your progress with Savings Goals.
Get sorted with in-app budget tools
Track your month-to-month Cash flow and spot areas where you could be making savings with your spend sorted in Categories.
Account fees
| Standard fees (fees may change) | Westpac Bump | Westpac Choice Youth |
|---|---|---|
| Account-keeping fee | $0 | $0 (usually $5, waived for under 30s) |
| Online Banking withdrawal (including Mobile Banking) | $0 | $0 |
| Telephone Banking withdrawal (self service) | $0 | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 | $0 |
| Branch staff assisted withdrawal | $0 | $0 |
| ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) | $0 | $0 |
| Overdrawn Fee | N/A | $15 |
Funds can be withdrawn from a Bump Savings account via online transfers to a Westpac everyday account5 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 signatory6, and self service Telephone Banking is not available for children under 12.
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 712KB)
Overseas fees apply to Westpac Choice Youth account only.
| Standard fees (fees may change) | Amount |
|---|---|
| Overseas ATM balance enquiry from a non-Global Alliance Partner ATM | $0 |
| Overseas ATM balance enquiry from a Global Alliance Partner ATM | $0 |
| Overseas Withdrawal Fee from a non-Global Alliance Partner ATM | $5 |
| Overseas Withdrawal Fee from a Global Alliance Partner ATM | $0 |
| Foreign Transaction Fee | Depends on transaction type - see below |
Foreign Transaction Fee
a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee); or
b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus 0.2% Westpac On-Charged Scheme Fee).
Global Alliance Partners
For more information on participating Global Alliance Partners in designated countries, see Accessing your accounts overseas.
Credit Cardholders who currently withdraw money from linked Westpac account via credit card, it is important to know that this functionality may not be available when using overseas ATMs, including Global Alliance ATMs. To ensure access to Savings and/or Cheque account funds when overseas please speak to us about obtaining a Debit Mastercard®. Go to our Debit Mastercard page or visit a Westpac branch. Terms and Conditions and Fees and charges may apply.
Frequently asked questions
Make a monthly deposit into the account (by the last business day of the current month), ensuring your balance always stays above $0 and is higher than the account balance on the last business day of the previous month.2
Important: any interest earned and credited to the account does not count as a monthly deposit.
It's paid on the last business day of each month and is calculated on the balances in your account before this date1.
- If you're under 14, we will require a parent or guardian to open and manage your account. Your parent or guardian will be set up as a signatory, meaning they can act on your behalf in branch and within online banking.
- If you're 14 years or over and would like a parent or guardian to have access to your accounts, please visit one of our branches and we can help you with the following
o Signatory access: Branch and online access to account
o Third party access: visibility of account online
If you're 8 years or over, you can link a Debit Mastercard to your Westpac Choice Youth account. If you're 8-13 and would like a debit card, a parent or guardian will need to order it after you open your account. If you're 14 and over, you don't have to, as a debit card automatically comes with the account when you open it.
Once you receive your debit card, follow the activation steps to activate it in Online Banking or the Westpac App.
Are you under 14? As the cardholder, sign into the Westpac App or Online Banking using your customer ID and password. A parent or guardian can then help you follow the card activation steps.
A trusted person such as a parent or guardian may be a signatory on your account to help you look after your banking. When you turn 14, it is no longer mandatory to have a signatory on your account. Signatories can be removed by visiting one of our branches, but it’s important you talk with your parents or guardians before you do this.
When you turn 18, your Bump account automatically becomes a Westpac Life account. If you have a signatory on your account (such as your parents or guardians) they’ll be removed and your new Life account will be all your own. You don’t need to do a thing. The switch between accounts will happen automatically.
A Life account is like a grown-up version of your Bump account. It has all the same good things such as no account fees, personalised savings goals and a mobile app – plus an extra Spend&Save feature to help boost your savings.
Notifications are designed to help keep your money safe by letting trusted people know if your account is being used in an unexpected or worrying way. So, it’s best to chat with those people first, before making any changes.
If you’re 14 to 18 years old and you’re sure you don’t want a third party on your account to get notifications, you can remove their ‘third party access’ in Desktop Online Banking. If you’re under 12, you can do so by visiting any Westpac branch.
A ‘signatory’ is someone, such as parent, grandparent, or guardian, who can operate your account in the branch. If you’re under 14, you’ll need to have a signatory on your account to help you look after your banking.
A ‘third party’ is someone who has been given access to your account(s) in Online Banking. This person can see your account in their own Online Banking and depending on their permission level can either ‘view’ your account (just look at your activity) or ‘view and transact’ with your account (pay for things or transfer money). A ‘third party’ may or may not be the same person as the ‘signatory’.
Access levels can be set up and modified in branch.
Grow your independence with pocket money
Managing your pocket money is much simpler when paid regularly and directly to your account. Find out how your parents can set up pocket money payments via the Westpac App.
Banking should be safe for kids
With account activity notifications for parents, sensible limits on online banking payments, simpler payment options, and more - we’re encouraging safe and secure banking habits.
Financial literacy for kids and teens
We're here to help you learn how to better manage your money with simple lessons, tips and tricks to help build good money habits to get ahead and stay ahead.
Things you should know
1. Westpac Bump variable interest: includes a standard variable base rate plus a variable bonus rate. Interest is calculated on the daily balance of your Westpac Bump account and paid on the last business day of the month. For the purpose of calculating interest paid, a month is the period between the last business day of the previous month to the second last day of the month (inclusive). Therefore, interest calculated on closing balances on and after the last business day of a month won't be included in the interest payable for the month but will be included in the interest payable for the next month. Balances include deposits made to your account, however interest paid into your account does not qualify as a deposit in terms of bonus interest eligibility.
a. your account balance has not fallen below $0; and
b. you (or someone on your behalf) have made a deposit of any amount (interest paid into your account does not qualify as a deposit in terms of bonus interest eligibility); 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.
Note: Bonus interest is calculated in the system after 11:59pm on the last business day of the month. Any transaction processed before 11:59pm may impact bonus interest eligibility.
3. Account fees: Monthly account keeping fees are free on a Bump account and are waived for customers under 30 on a Choice Youth account. Other fees may be charged for banking services. For a full list of fee waiver eligibility, refer to our Terms and Conditions (PDF 621KB) (PDF 712KB)