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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:

 

5.00 % p.a.

Total variable interest rate1

|

2.00 % 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) 2.00% p.a.
Standard variable bonus interest rate2 3.00% p.a.  

Under 18? Get $30 on us

Don’t have both a Bump savings account and a Westpac Choice Youth everyday account?
Open a new Bump savings account and a Westpac Choice Youth everyday account, or just the account you don’t have.

Deposit $100 into your Bump account

Do this within 30 days of opening your new account(s).

 

T&Cs and eligibility criteria apply*

Get $30 on us to boost your balance

We’ll deposit $30 into your Choice Youth account.


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.

 

Weekly spend limit

So you don't spend all your money at once. The limit can be changed as you get more experience.

Card lock and unlock

Helps to keep your money safe if you’ve lost, misplaced or had your Debit Card stolen.

Kid rated shopping

Shop confidently in-store or online without the fear of spending at adult-only sites or retailers.

Parental notifications

Messages for parents or guardians about your account activity so they can guide and support you.


How do I open a kids savings and everyday account?

You can open both accounts online now. We'll ask for your name, date of birth and a few other details, along with a form of ID. 

As the account holder you can decide if you want your parent or guardian having access to your accounts with the Parental Control4 function.

What do I need?

Two forms of ID:

  • Australian birth certificate
  • Australian driver licence
  • Passport
  • Medicare card

 

If you're Aboriginal and Torres Strait Islander and you don't have any of the required forms of identification, please call our Indigenous Call Centre on 1800 230 144 Monday to Friday 9am - 6.30pm ACST or visit your nearest branch.

Your tax residency status:

If you’re not required to pay tax in another country, put NO on your application. Otherwise, please give us the details.

 

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, and track 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 620KB)

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.

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.

Mother and daughter with laptop

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

 

Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change. 

 

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.

 

2. Bonus interest: You will be eligible for bonus interest during the month (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) and subject to transaction processing time, if:
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 620KB)

 

4. Parental Control: Parents, grandparents, or guardians must be an account signatory to have Parental Control. Child must be registered for Westpac Online Banking and Westpac Telephone Banking to access accounts online or over the phone.  For children under 12 years of age: Parental Control is mandatory, and self-service Telephone Banking is not available.  For children aged 12 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. 

 

5. Westpac everyday account: fees and charges apply on a Westpac everyday account, which can be in the name of the child or a parent signatory. Transfers made by the child are subject to any Parental Controls. 

 

6. Parent signatories: parent or guardian must be an account signatory to view the account. There’s a limit of two signatories per Bump Savings account. It is mandatory to have an account signatory on any accounts for children under 14. 

 

7. Debit Mastercard®: Choice for youth account, the eligible card age is 8. For any other transaction account, the eligible card age is 14. You must have an Australian residential address. 

 

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 621KB) (PDF 620KB) 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.

 

Mastercard® is a registered trademark of Mastercard International Incorporated.