It’s never too early to teach your children the value of money. As peer pressure sets in and their wants grow to be more extravagant, money management skills, such as making choices, budgeting and planning become invaluable.
Giving kids the incentives to save, our Under 18 Savings Account has:
- a higher interest rate
- no account keeping fees
- easy access.
Plus, kids benefit from:
- incentive gifts for 0 to 13s for reaching savings targets
- newsletters for 10 to 17s
- term deposits for 14 to 17s with a lower minimum deposit of $500.
We make it easy to help you move your children’s savings along:
- a small amount of your salary deposited straight into their account goes a long way
- our high interest term deposits are an ideal way to teach kids about the next steps in their financial journey. 14-17 year olds need just $500 to get started.
To find out more, explore your options on our savings and term deposit pages
If your child is ready to operate the account, you can give them this responsibility by transferring signatory rights. This will allow the child to deposit, withdraw, use a rediCARD and access internet banking themselves.
Account access
For account access after you have given them responsibility, they may also choose to allow you to have authority to operate on their account.
To set up a direct credit, transfer your signatory rights or become an authority to operate on an account, simply download the form.