WestpacBump Savings
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
- Up to
- 5.30%
- Base rate
- 1.75%
- Bonus rate
- 3.55%
- Monthly fee
- $0
Rates
Every rate Westpac publishes for this account, 2 in all.
How the rate is made up
5.30%in a month every condition is met
To earn the bonus
- Make at least one eligible deposit. Interest paid into the account doesn't count
- Deposit balance increased
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusAccount 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 t… | - | - | - | 3.55% | - | paid every 1 mo; Make at least one eligible deposit. Interest paid into the account doesn't count; Deposit balance increased |
| Variable | - | - | - | 1.75% | - | paid every 1 mo; When no standard variable bonus rate applies. |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 9 Oct 2026 | Bonus | 3.30% | 3.55% | up 0.25 |
Each change is logged the night it appears in the rates Westpac publishes. See how every lender answered the RBA on the rate tracker.
Fees
5 fees published, grouped by when they're charged.
While you hold it1
- Account Keeping FeeNo fee
When you make a transaction4
- Branch staff assisted withdrawal
Shown as $0.00 on your account statement
No fee - Online Banking (including Mobile Banking)
Online transfer withdrawals via Online Banking.
No fee - Telephone Banking withdrawal (self service)No fee
- 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.
No fee
Features
- 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.
- 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 and limits
- Maximum age 17
- Residency: You need to have an Australian residential address and currently be in Australia.
- 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.
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Published by Westpac under the Consumer Data Right, last changed by them on 28 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.