Frequently Asked Questions

As we enter our third century in business we believe that to be part of the future you have to play your part in building it. That's why, in our Bicentenary year we’re looking forward to supporting all Australians build brighter futures. We believe that good financial habits – when started early – can make a lifelong, lasting impact. We’re excited to mark our 200th anniversary by helping young Australians get on the right track towards saving for their futures.

To mark our 200th anniversary, Westpac will give every Australian baby born in 2017, $200 in our new Bump Savings account if they open the account and are identified by 31 May 2018. The $200 can’t be withdrawn from the account until the child reaches the age of 16. Additional funds can be added to the account at any time and these funds can be withdrawn along with any interest earned.

The parent or legal guardian of any baby born between 1st January 2017 and 31st December 2017 with a permanent Australian residential address can register interest in the Bump account to ensure they are one of the first to hear about it when it launches on 8th April 2017.

No you don’t, we’d love you to register your interest or tell a friend. The $200 contribution in a Bump Savings account is open to all Australians babies, provided the baby is born between 1st January 2017 and 31st December 2017, has a permanent Australian residential address and by 31st May 2018 the Bump Savings account (launching on 8 April 2017) is opened in the child’s name and the child’s identity is verified.

While there will be no Monthly Service Fee on the account, other fees may apply. We’ll be in a position to share the full details of the Bump Savings account once it launches on 8th April.

You can register your interest before or after your child is born, as long as they are born in 2017. Note: Your baby will have up until 31 May 2018 to open the account and complete identification verification to be eligible for the $200 deposit in their account.

Registering your interest in the $200 deposit in a Bump Savings account should take just a few minutes online. You just need to enter a few details – your name and contacts, and your baby or Bump’s details – so we can send you a reminder closer to when the Westpac Bump Savings account is ready. Once the account is launched on 8 April 2017, we will send you a reminder to confirm your interest in the new account for your child and outline next steps.

We are launching the Bump account as part of our 200th anniversary on 8 April 2017. Before this date, you can register your interest for the $200 deposit offer in the Bump Savings account online and we’ll send you a reminder to confirm your interest once it’s launched. After this date, your child can still receive the $200 deposit if their account is opened by 31 May 2018 and they meet the other criteria. The Bump Savings account will be available ongoing, the full details of the account will be released on 8th April 2017.

Yes. As long as you’re the legal guardian and the baby was born between 1st January 2017 and 31st December 2017, has a permanent Australian residential address, and by 31 May 2018 the Bump Savings account is opened in the child’s name and the child’s identity is verified.

It is one account per eligible baby, so for twins - if they are born 2017, have a permanent Australian residential address, each have a Bump Savings account opened in their name and their identity verified by 31 May 2018, then they’ll each receive the $200 deposit.

Registering your interest for the Bump Savings account with the $200 deposit from Westpac is only available for eligible babies born in 2017. More information about our existing children’s accounts can be found here: https://www.westpac.com.au/personal-banking/bank-accounts/

All the details of the account will be available on our website from 8 April 2017.

No. Your expression of interest does not automatically open the account; we will be in touch closer to Apr 8 2017 to provide all the account details. You will be provided full terms and conditions for your confirmation when you open the account for your child.

If you would like to start setting aside money for your child’s future prior to the launch of our new account in April, Westpac offers savings accounts which can be opened online within minutes by parents and grandparents. You can also visit a branch or call the Customer Contact Centre for assistance with choosing the right account. As long as you’ve registered your interest, we will let you know when the Bump account is available. Please click here for a list of Westpac’s savings accounts which can be opened online.