Westpac
Bump Savings
The trick to saving is to start early. With a Westpac Bump kids savings account, get the money-growing habits you need.
Savings & transaction accountsBank updated 8 Sept 2026
At a glance
- Base rate
- 1.75%
- Bonus rate
- 3.30%
- Up to
- 5.05%
- Monthly fee
- $0
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusBonus 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… | — | — | — | 3.30% | — | paid every 1 mo; 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.; Deposit balance increased |
| Variable | — | — | — | 1.75% | — | paid every 1 mo; To earn the standard variable rate, account balance must not fall below $0 at any time. |
§ 02 — Fees · 5
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Account Keeping Fee | Periodic | No fee | Every 1 mo | — |
| Branch staff assisted withdrawal | Withdrawal | No fee | — | Shown as $0.00 on your account statement |
| Online Banking (including Mobile Banking) | Withdrawal | No fee | — | Online transfer withdrawals via Online Banking. |
| Telephone Banking withdrawal (self service) | Withdrawal | No fee | — | — |
| Telephone Banking withdrawal (staff assisted) | Withdrawal | No fee | — | Telephone Banking is not available for a parent signatory, and self service Telephone Banking is not available for children under 12. |
§ 03 — Features
Digital bankingFraud protectionUnlimited transactions
- · 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.
- · 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.
- · Spending restrictions: To help protect you, we may decline some transactions on your Westpac Debit Mastercard based on the type of merchant. While this adds an extra layer of protection, it may not p…
- · Parental notifications - Messages for parents or guardians about your account activity so they can guide and support you.4�
- · 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.
§ 04 — Eligibility & 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.
§ 05 — Compare
§ 06 — Run the numbers
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Published by Westpac under the Consumer Data Right, last changed by them on 8 Sept 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.