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 Polar Savers reward (maximum one reward per item). For the full list of reward items visit School Banking. Not only does it teach crucial money skills, it’s also a great way for schools to engage with parents and the broader school community.

Exciting promotions and adventures with the Dollarmites

To keep students motivated and encourage participation, every year we introduce a new savings adventure. In 2019, students will join the Dollarmites, on a Polar Savers adventure to the Ice Cave of Savings. 

Tools for Co-ordinators

Process School Banking deposits

School Banking Portal

School Banking FAQs

Support materials for School Banking Co-ordinators

Newsletters and communications

Term 1 School Newsletter article, for publication in your school’s newsletter in both colour (PDF) and black and white (PDF).

Personalise these School Banking 2019 newsletter and website communications (DOC), to help you promote and support School Banking in your school.

Dollarmites wallet inserts

Use these Dollarmites wallet inserts when returning School Banking rewards and student deposit books:

School Banking Rewards wallet insert

Use this insert to display additional School Banking rewards that are still available:

Class activities

Activity sheets for students:

For more activity sheets visit the Beanstalk activity centre

Registration form for new School Banking Co-ordinators

Download the School Banking Co-ordinator registration 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 
Contribution
1 -100
$100
101 - 200
$200
201 - 300
$300
301 - 400
$400
401 - 500
$500
501+
$600
  • 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

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 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.