Available at participating primary schools, School Banking encourages kids to save a little money each week (any amount) into their Youthsaver account, helping them learn about the value of money and develop a good saving habit. Three out of four parents of School Bankers agree it’s helped teach their child an important life skill and given them a head start in life with understanding money1.
Our School Banking ambassadors, the Dollarmites (Addy, Pru, Spen, Lucas and Pat) and the School Banking Rewards help make learning about money engaging for kids - something four out of five parents think is important2. Each time a child makes a School Banking deposit they earn a silver Dollarmites token. Once they've collected 10 tokens, they can redeem them for an exciting reward.
Schools are provided with support and tools to help them run School Banking. To assist and recognise participating schools for their School Banking program administration efforts, financial support is provided through our School Banking Contributions Program.
If your child's school participates in School Banking, all you'll need to do is open a Youthsaver account for your child, if they don’t already have one. A list of schools participating in School Banking is available during the online application process or you can ask at your school office.
Your child will receive a Dollarmites deposit wallet to use for School Banking deposits when the account is opened. If your child has an existing Youthsaver account, contact us or visit your nearest branch to receive a Dollarmites deposit wallet.
The Youthsaver account is a savings account with no monthly fees and a competitive bonus interest rate when at least one deposit (excluding interest and bank initiated transactions) and no withdrawals are made each calendar month on balances up to $50,000.
This year, the Dollarmites (Pru, Addy, Spen, Lucas and Pat) are rugged up and ready to take kids on a Polar Savers adventure to the Ice Cave of Savings that’s full of exciting rewards to keep children motivated and demonstrate the value of regular saving. How it works:
(two released each term, available while stocks last)
The CommBank Youth app is a fun, secure way for your child to learn digital money skills. They can:
Download and print this Savings Tracker for your child to keep track of this year’s School Banking deposits and develop good saving habits.
A one-stop resource that helps you bring money to life for children. Browse tips and advice and download fun activities such as colouring-in sheets, puzzles and budget and chore trackers.
Designed for children under 12 years of age, Dollarmites makes money fun with online activities and tips to help children save for the things they want sooner.
Start Smart is Australia’s leading financial education program for students. Our Start Smart workshops make learning about money fun and give students the confidence to make smart decisions about money from a young age.
1 Parents of children participating in CommBank’s School Banking program (n=523), School Banking Research, conducted by Fiftyfive5, May-June 2018.
2 Parents of Australian primary school children (n=1144), School Banking Research, conducted by Fiftyfive5, May-June 2018.
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