Westpac Bump Savings Account

A high interest savings account for under 18s offering a maximum variable rate of 0.55%.

The Westpac Bump Savings account is a high interest savings account for under 18s, designed to teach your children good savings habits from a young age. The account charges no monthly account keeping fees, and allows you to earn bonus interest of up to 0.55% each month you grow your savings. Read on to learn more about the features of this account.

0.55% p.a.

Maximum variable rate


Base interest rate


Minimum deposit

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!


Product NameWestpac Bump Savings Account
Maximum Variable Rate0.55% p.a.
Standard Variable Rate0.30% p.a.
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age12

Review by

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

When this account was launched to celebrate Westpac's 200th birthday the bank was offering $200 to all Australian children born in 2017, however this offer has now ended for new applicants.

Key features

$200 bonus offer now closed for new applicants

When this account was launched to celebrate Westpac's 200th birthday the bank was offering $200 to all Australian children born in 2017, however this offer has now ended for new applicants. If you have already opened the account and received the $200 offer from Westpac, you cannot withdraw that $200 until your child has turned 16.

Earn bonus interest up to 0.55%

This account offers a standard variable rate of 0.3% and a bonus interest rate of 0.25%. Each month you make a deposit and ensure your balance is larger at the end of the month than it was at the start you'll earn the maximum variable rate of 0.55% on your balance.

Launch savings calculator

How to apply

You can apply online in less than 10 minutes, but make sure you meet the following eligibility criteria first, and have the necessary documents handy.


  • Must be under 18 years old. You must be under the age of 18 to open this account. Children below 12 will need a parent to open an account for them in their name.
  • Australian residential address. Your child will need a permanent Australian residential address.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.


    Default Gravatar
    October 6, 2021

    Can you get a debit card with a bump account

      Avatarfinder Customer Care
      October 13, 2021

      Hi DC,

      The Westpac Bump Savings Account does not come with a linked debit card.

      This account has online banking access and you can easily withdraw funds via free online transfers to your Westpac everyday account, or by visiting a branch.

      To know more and to open an account, please visit the Westpac Bump Savings Account site.

      I hope this helps!


    Default Gravatar
    April 6, 2019

    How do you withdraw the money in the Westpac Bump Savings Account?

      Avatarfinder Customer Care
      April 7, 2019

      Hi Sleet,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      You can withdraw money from your Westpac Bump Savings Account to a Westpac everyday account. A person who can withdraw money is the Bump Savings account holder or an account signatory. You can withdraw via online transfers or visiting a branch. There are no fees for these withdrawals.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    January 8, 2019

    Hi there I have 2 children, one age 12 who will be 13 next month and my youngest is 8. I am wanting to open a bank account for the both of them and i’m not sure which one will be the best there are so many out there..please help

      Avatarfinder Customer Care
      January 8, 2019

      Hi Tania,

      Thank you for reaching out to Finder.

      You may want to compare banks that offer kids’ savings accounts. You can use our table to help you find the account that suits your child. When you are ready, press the “Go to Site” button to apply. Please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions. Hope this helps!


    Default Gravatar
    July 30, 2018

    Do we have to apply for a tax file number to give to Westpac for our baby’s new bump account in order to avoid her being taxed on interest earned in her account or is it exempt?

      Default Gravatar
      August 1, 2018

      Hi Dave!

      Thanks for leaving an inquiry on our page.

      No, the tax file number is not mandatory, however, it is helpful that you provide your tax file number or exemption to ensure that the correct withholding tax is being applied to your account.

      Hope this helps!


Go to site