--- title: "Bump Savings — Westpac" description: "Transaction & Savings Accounts from Westpac. Rates, fees, features and eligibility as published under Australia's Consumer Data Right." canonical: https://www.cdrcompare.au/brands/westpac/products/SavBump source: "CDR Compare" language: en-AU last_updated: 2026-10-09T03:52:27Z --- # Bump Savings — Westpac > Transaction & Savings Accounts from Westpac. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare. **Transaction & Savings Accounts** The trick to saving is to start early. With a Westpac Bump kids savings account, get the money-growing habits you need. ## At a glance - **Base rate:** 1.75% - **Bonus rate:** 3.55% (conditions apply) ## Deposit rates | Type | Rate | Applies to | Interest paid | | --- | --- | --- | --- | | Variable (When no standard variable bonus rate applies. ) | 1.75% | — | monthly | | Bonus · 1 month (Account balance must not fall below $0 at any time. Make at least one eligible deposit. Interest paid into the account doesn?t count. 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. 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. · Make at least one eligible deposit. Interest paid into the account doesn?t count · Balance must grow each period) | 3.55% | — | 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 by 31st March 2027, 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.) - **Unlimited transactions** (Withdraw funds via free online transfers to your Westpac everyday account, or by visiting a branch (fees apply on an everyday account)) - **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 - **Digital banking** (Online, Mobile and telephone banking is available) - **Statements : 6 monthly, or more frequently on request.** - **Zero monthly fees - There are no account-keeping or transaction fees, but other fees might apply.** - **Bucket your savings - In up to 6 different Savings Goals with just one account.** - **Make savings goals: Sharing your saving goals with others may motivate you to save even more.** - **Track your spending - Open with an everyday account to keep an eye on spending in the Westpac App.** - **Fraud protection** (The product includes FRAUD_PROTECTION features.) - **Fraud protection** (Secure your account with SafeBlock - Find out how SafeBlock can help keep you safe when you need it most by locking your cards and account. Explore more security features: Digital Card with Dynamic CVC, Westpac ProtectTM Security Code, Westpac Safecall, Westpac Verify) - **Parental notifications - Messages for parents or guardians about your account activity so they can guide and support you.** - **Rewards for savings: Put money in your account every month and you could earn bonus interest.** - **Pocket money - Set up regular pocket money payments paid directly into their account.** ## Eligibility - **Child under 14 - 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.** - **Child aged 14 ? 17 - A child aged 14-17 can open their account online or at a branch.** - **Maximum age** — 17 years (You 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 from Westpac - [Overview](https://www.westpac.com.au/bank-accounts/savings-accounts/bump) - [Terms & conditions](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/pb/PersonalAccounts-tandc.pdf) - [Eligibility](https://www.westpac.com.au/bank-accounts/youth/kids) - [Fees & pricing](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/pb/PersonalAccounts-tandc.pdf) ## Data provenance - Published by Westpac under the Consumer Data Right - Product ID: `SavBump` - Last updated by the provider: 9 October 2026 - Source payload (JSON): https://www.cdrcompare.au/api/raw/westpac/SavBump - Provider page: https://www.cdrcompare.au/brands/westpac - CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000002 --- Source: [CDR Compare](https://www.cdrcompare.au/brands/westpac/products/SavBump) — product data published by Australian data holders under the Consumer Data Right. 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