A saving and an everyday kids bank 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.
Under 18? Get $30 on us
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. |
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 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 to have access to your accounts with the Parental Control4 function.
Two forms of ID:
- Australian birth certificate
- Australian driver licence
- Passport
- Medicare card
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. 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 645KB)
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.
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
- To receive $30 you must meet the eligibility criteria and satisfy the requirements in these Terms and Conditions. This promotion is available from 05/12/2024 to 28/02/2025.
- 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.
- This promotion excludes Customers who have opened and closed both of these accounts, as well as joint accounts.
- 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 (account(s) must be active and ready to use), and must deposit a cumulative minimum of $100 into one 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 calendar days of meeting these Terms and Conditions. Both the Westpac Bump Savings and Westpac Choice (Youth) accounts must remain open during that period for the $30 promotion amount to be paid.
- Each eligible youth 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 and active.
- We reserve the right to withdraw, amend or extend this offer at any time.
- Deposit Accounts for Personal customers Terms and Conditions (PDF 645KB) 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.
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 645KB)