Westpac offers $200 to Australian babies born in 2017

Westpac’s first campaign of the year ‘Dear Bump’, celebrates the bank’s 200th anniversary giving newborns a $200 head start to their savings account. Westpac tells the unborn that, “You should know, it’s not all sunshine and rainbows. People worry. Your parents worry”. The TVC message addresses the future financial stability that will impact the next generation, such as the severe house price increase and concerns of access to the best education.

The TV campaign features the stressed couple appearing to make their way to the hospital to give birth. The footage primarily focused on the mother’s bump with the voiceover addressing the worries parents encounter.

Image of Bump Print Campaign

To receive the head start bonus, parents will need to open a Westpac Bump Savings Account in the name of the child, and they will have access to the funds when the child turns 16. The aim of the ‘Dear Bump’ campaign is to nurture positive money saving habits for the babies expected to be born in 2017 and ensure they are set to enjoy the quality of life we do.

Westpac Group’s chief executive George Frazis says that, “By building on an initial $200 deposit at birth with a $20 contribution every week, for example, it will potentially amass approximately $19,000 in savings (based on a 1.5% interest rate) by the time the child turns 16.”

The campaign has been supported by an EDM:

Image of Westpac Bump EDM

“By building on an initial $200 deposit at birth with a $20 contribution every week, for example, it will potentially amass approximately $19,000 in savings (based on a 1.5% interest rate) by the time the child turns 16."

Social sentiment has been mixed:

Image of Westpac Social Sentiment

The campaign was first launched on January 1st 2017, (as a new year ‘reward’ for expectant parents), using primarily TV and Newspaper advertising. The campaign reach will be tracked using the BigDatr platform.