About the School Banking program
Established in 1931, School Banking has been teaching money-management skills to generations of primary school Australians.
Children who participate are rewarded with Dollarmites tokens that they can redeem for exciting rewards when they deposit regularly into their savings account. The program is supported with a range of fun and engaging materials to help them learn about money – and encourage them to save.
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.
To keep students motivated and encourage participation, every year we introduce a new savings adventure. In 2016, we're taking students on an outback adventure through the Canyon of Savings and have eight new reward items to choose from our Outback Savers range.
Plus, to help students on their savings adventure, we are giving students a chance to win a family trip to meet Bindi and Robert Irwin and the animals at Australia Zoo. View full terms and conditions.
School Banking competitions are also run at participating schools nationally, offering students the chance to win great prizes just by saving regularly.
Download activity sheets and materials
We have a wide range of resources to help parents and carers teach children about money:
- The latest articles, tips and advice around saving, spending, sharing and earning
- Fun and engaging activity sheets you can download, such as colouring-in sheets, puzzles and budget and chore trackers.
Visit the Beanstalk activity centre.
Benefits for schools and how to get involved
- $5 for every account activated via the program
- 5% of every deposit made at school (up to a maximum of $10 commission per individual deposit) or;
- A minimum commission payment of $25 per quarter (provided at least one deposit or new account is received from the school per quarter).
In 2015 alone, participating schools received over $2.3 million collectively.
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).
If you are a Principal and you would like to introduce School Banking to your school, please call our Help Desk on 1800 674 496 (weekdays 9am – 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 plays a vital role in the success of the School Banking program.