About the School Banking program

Program information

Established in 1931, School Banking has been teaching money-management skills to generations of primary school Australians.

Students participating in School Banking will get weekly hands-on saving practice, when they bring their deposit to school in their Dollarmites deposit wallet on School Banking day. They’ll also receive a silver Dollarmites token each time they make a deposit, which they can redeem for a reward. 

Tools for Co-ordinators

Process School Banking deposits

School Banking Portal

School Banking FAQs

Support materials for School Banking Co-ordinators

Newsletters and communications

Personalise these School Banking 2021 newsletter and website communications (DOC), to help you promote and support School Banking in your school.

Download the digital Parent Guide, with more information on how School Banking works.

Class activities

For more activity sheets visit the Beanstalk activity centre

Dollarmites wallet inserts

Varied Dollarmites wallet inserts are used to place a School Banking message inside students’ Dollarmites wallets.

  • There are two general wallet inserts; one to be used for managing a student’s recent School Banking deposit and another to be used for managing rewards. Pads of both inserts are available to order from the School Banking Portal
  • Use this Reward redemption slip to inform students of School Banking rewards currently available to order

Application form for new School Banking Co-ordinators

Download the School Banking Co-ordinator application form (PDF).

Financial support for schools

To assist with and recognise the School Banking program administration required, financial support is provided to participating schools through the School Banking Contributions Program. This can be spent on anything your school needs like books, technology and sports equipment.

Under the School Banking Contributions Program, schools receive:

  • An Establishment Contribution of $200 when their first ever School Banking deposit is processed, or if a school re-joins after 12+ months
  • An Annual Contribution each calendar year when their first School Banking deposit is processed. The amount paid is based on the number of students who made at least one School Banking deposit in the prior year
Number of students
0 - 100
101 - 200
201 - 300
301 - 400
401 - 500
  • Regular Savers Contribution of $5 for every 10 School Banking deposits processed per student, in line with the existing School Banking Rewards Program for students

View the School Banking Contributions Program prior to 1/1/18

In FY2019-20 School Banking schools were paid a total contribution of $1,281,915.50, with the average payment $358.08.

Below is a table that shows the contribution payments* in a state-by-state breakdown. 

State / territory

 *All payments are indicative of the total annual contribution, regular savers contribution and establishment contribution. Payments may include GST based on each school's requirement.

How to get your school involved

How to introduce School Banking

If you are a Principal and you would like to introduce School Banking to your school, please call our School Banking Helpdesk on 1800 674 496, Monday to Fridays, 9am to 5pm (Sydney/Melbourne time).

A School Banking Specialist will talk you through the steps to get started.

You’ll also need to think about recruiting volunteers, such as parents, carers, grandparents or school employees as School Banking Co-ordinators. The energy and commitment they bring play a vital role in the success of the School Banking program.

School Banking Co-ordinators & Specialists

School Banking Co-ordinators are the volunteers who are vital to the success of the program. Supported by our School Banking Specialists, they facilitate the program, collect and process deposits at CommBank branches or Australia Post Offices, and manage the Rewards Program.

Schools are assigned a School Banking Specialist to assist Principals and Co-ordinators facilitate the program. They provide regular advice and tips on how to encourage participation either over the phone or through in-school visits (for schools in metro locations or major regional centres).

School Banking in VIC

The Victorian Government has announced that banks and financial institutions will no longer be welcome to deliver programs to government schools in Victoria from 2021. This decision affects both Start Smart and our School Banking program. We will continue to offer these programs to schools in other states and territories, and non-government schools in Victoria.

School Banking Contributions Program prior to 1 January 2018

Under the School Banking Contributions Program prior to 1 January 2018, schools received:

  • $5 when a student made their first School Banking deposit
  • 5% paid on every deposit made (up to $10 paid per individual deposit); or
  • Minimum payment of $25 per quarter provided at least one School Banking deposit was received by the school per quarter

Payments were paid quarterly in April, July, October and January each year, and  deposited directly into a bank account nominated on the registration forms and could be spent by the School as they wished.