Bump Savings
The trick to saving is to start early. With a Westpac Bump kids savings account, get the money-growing habits you need.
- Base rate
- 1.75%
- Bonus rate
- 3.3%
- conditions apply
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable To earn the standard variable rate, account balance must not fall below $0 at any time. | 1.75% | — | monthly |
| Bonus Bonus interest is payable each month that you: Make a deposit to the account; ensure the account balance is higher balance at the end of the month than at the start and account balance must not fall below $0 at any time. · Make a deposit to the account; ensure the account balance is higher balance at the end of the month than at the start and account balance must not fall below $0 at any time. | 3.3% | — | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| Account Keeping Fee Charged monthly | Ongoing | $0.00 |
| Online Banking (including Mobile Banking) Online transfer withdrawals via Online Banking. | Withdrawal | $0.00 |
| Telephone Banking withdrawal (self service) | Withdrawal | $0.00 |
| Telephone Banking withdrawal (staff assisted) Telephone Banking is not available for a parent signatory, and self service Telephone Banking is not available for children under 12. | Withdrawal | $0.00 |
| Branch staff assisted withdrawal Shown as $0.00 on your account statement | Withdrawal | $0.00 |
Features
- Cashback offer — 50.00
- Double your $50 when you bank and save with Westpac. Open a new Choice Youth everyday account and an eligible savings account together between 1 February 2026 and 30 September 2026, and here?s how you can get $50: Deposit $50 or more into your new Choice Youth everyday account within 10 days. We?ll add $50 to your savings account once you meet the criteria. You must not have held any Westpac transaction account or savings account in the last 2 years. T&Cs apply
- Grow your independence with pocket money
- Unlimited transactions
- Withdraw funds via free online transfers to your Westpac everyday account, or by visiting a branch (fees apply on an everyday account)
- Digital banking
- Set up and track up to 6 personalised savings goals via Online Banking
- Notifications — Third parties of the Bump account will be able to receive Push Notifications through the Westpac App for incoming and outgoing transfers to the accounts
- Statements : 6 monthly, or more frequently on request.
Eligibility
- Minimum age — 14 yearsA mandatory Parental Control function gives your parent or guardian control of your account if you?re under 12.
- Maximum age — 17 yearsYou can open a Bump Savings account for your child as long as they are under 18. For account holders under the age of 14, an account can be opened for a child in the child?s name by a parent, guardian, or grandparent, who must become an authorised signatory at the time of opening the account. There must be at least one authorised signatory on the account. The sole authorised signatory cannot be removed from the account until the child has turned 14 or another authorised signatory is added to the account. For customers 14 years old or over: A child may open an account in their own name. If you are under 12 years old, Parental Control function is mandatory which gives your parent or guardian control of the account. The level of access under Parental Controls can be changed at any time by an authorised signatory or, if you are over 12, by the account holder.
- Residency status — You need to have an Australian residential address and currently be in Australia.
More Information
Published by Westpac under the Consumer Data Right · Last updated 13 July 2026 · Product ID SavBump · View on CDR.gov.au