Children's Savings Account
Our Children’s Savings Account has taken out Mozo’s Expert Choice Award for the third year in a row and received a 5-Star Rating from Canstar. So, we can officially say it’s one of the best in Australia!
How it works
This account is for anyone under 18 years of age.
Bonus interest – Bonus interest applies each month you make a deposit of any amount and make no withdrawals.
Saving skills – Our bonus interest helps teach children the benefits of regular saving.
Fee free – And best of all there’s no monthly fees or transaction fees*
Open a child membership by following these instructions:
- Log into your Internet Banking
- Select Apply for from the top menu
- Click Child Membership from the drop-down menu
- Complete our online Child Membership form.
Please note you’ll need a photo/scan of the child’s birth certificate or passport to complete the process.
Not a member? (12-18 year olds)
If you’re 12-18 years of age and not already linked to a membership you can join online now. Simply select ‘Just for me’ at the beginning of our online membership form and following the prompts.
Please note you’ll need a at least one form of personal identification.
Not a member? (Parents or guardians)
If you’re over 18 years of age and would like to join online and open a child membership at the same time. Simply select ‘Me and a child’ at the beginning of our online membership form and follow the prompts.
Please note you’ll need a at least one form of personal identification for you and a photo/scan of the child’s birth certificate or passport to complete the process.
Interest rates and fees
|Product Name||Interest Rate||Rate + Bonus|
|Children's Savings Account||0.05% pa||1.50% pa|
|There is no monthly fee on the Children's Savings Account.||$0|
|There are no transaction fees on the Children's Savings Account*.||$0|
Want to do more with your money?
*We do not charge any fees when using ATMs within Australia. Your card is accepted at over 10,000 fee-free ATMs including most major banks, however some ATM operators may charge a fee to process your transaction or balance enquiry. If withdrawing cash overseas a fee may be charged by the ATM operator and the details will be disclosed at the time of the transaction or enquiry. Other fees and charges may apply. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.
^ Bonus interest will not be paid in the 1st month of account opening.