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For over 80 years we have passionately believed all young Australians should learn about the importance of saving and smart money management. We think that when it comes to a child’s education, knowing how to manage money is as essential as English, maths, science or the arts. 

School Banking is a fun, engaging way for young Australians to learn lifelong money-management skills.

  • Kids bank at school and earn Dollarmites tokens which they can redeem for great rewards
  • Schools receive a commission on every deposit
  • Schools receive $5 for every Activated Account via the program

Process your School Banking deposits and re-order your materials here: 

How it works

  • Parents open a Youthsaver account for their children
  • Kids can then bank at participating schools for a fun, hands-on experience that encourages good savings habits
  • They receive a Dollarmites token every time they make a deposit to their savings account at school, regardless of the amount
  • Once they have 10 tokens, they can redeem them for a variety of reward items, including a handball, scented pencils, swimming bag and sea streamers
  • The more tokens they save, the more items they can redeem throughout the year
  • Participating schools benefit by receiving a commission on every deposit made at the school and $5 for every Activated Account via the program – a great fundraising activity

For parents

Our School Banking Program helps kids develop good saving habits and gives them the confidence and independence to make sound financial decisions. With hands-on learning experiences, we can help children grow into financially savvy adults.

Every time your child makes a deposit into their savings account at school they receive a silver-coloured Dollarmites token. The tokens can then be redeemed for a range of great Dollarmites reward items. Every year we have an exciting range of rewards to choose from – scented pencils, swimming bag and handballs, for example. The rewards vary and will be communicated at the start of each school year. These fun and enjoyable rewards are a great way to keep your kids motivated and to demonstrate the value of saving.

To recognise students who actively participate in the program we also have a range of milestone certificates that can be presented at school. 

Participation in the School Banking Rewards Program is not mandatory. If you’re keen for your child to be involved in the Rewards Program, please contact your school principal or School Banking Co-ordinator.

Download and print Application for Youthsaver Account - School Banking (PDF 736KB)

For School Banking Co-ordinators

The School Banking program has been running since 1931, teaching money-management skills to generations of Australians. Children traditionally receive a money box and transaction book on joining the program, but they now also get a range of fun, engaging materials to help them learn – and encourage them to save.

School Banking Co-ordinators are volunteers who are vital to the success of School Banking. With your help we can create a fun way to give kids a head start in money matters. Many Co-ordinators tell us how rewarding they find being able to make a positive difference in the lives of many children.

We appreciate the focus and energy our Co-ordinators bring to the program and have developed the following to help you:

  • A School Banking Specialist to provide support through regular telephone contact (for schools in country or remote areas) or school visits (for schools in metro locations and major regional centres). We have 45 School Banking Specialists on call to offer advice, share tips and encourage participation
  • The School Banking Helpdesk – call 1800 674 496 (Monday to Friday, 9am – 4pm, Sydney time)
  • The School Banking Web-Based System to make processing deposits simple and efficient. It can be accessed from any computer with internet
  • School Banking Handbook and School Banking Web-Based User Guide

If you would like your school to participate in the School Banking program, speak to your school principal.

School Banking Co-ordinators also facilitate the Rewards Program. Students are given a Dollarmites token every time they make a deposit to their savings account at school, regardless of the amount. Once they have 10 tokens, they can redeem them for a variety of reward items.

These items are currently available:

Full School Banking details, including fundraising benefits for schools.

Learn more

Download documents supporting School Banking, including class activities.

Learn more

Process School Banking deposits here:

Order School Banking materials including tokens. 

For school principals

  • Participating schools receive a commission on every deposit made at the school
  • In 2012, participating schools collectively received over $1.5 million in commission
  • It engages parents with the school community as they help their children grow their savings
  • It helps develop stronger money-management skills in students

  • Engage volunteers (parents, carers, grandparents or school employees) as School Banking Co-ordinators
  • The Co-ordinators collect, process and deposit the money at the nearest CommBank branch or Australia Post and facilitate the Rewards Program
  • Your school will be assigned a School Banking Specialist to provide support, either face-to-face or via our School Banking Helpdesk

Further details

As the Rewards Program is intended to recognise individual savings behaviour, we have a ‘no pooling tokens’ rule (i.e. students cannot receive tokens from other students in order to collect them faster).

The financial benefits for participating schools include:

  • $5 for every account activated through the School Banking program (i.e. for each student who banks through the school’s program for the first time)
  • Five per cent of every deposit made at school (up to a maximum of $10 commission per individual deposit), or
  • Minimum commission payment of $25 per quarter (provided at least one deposit or new account is received from the school per quarter)

Get started

1800 674 496

(Weekdays, 9am - 4pm, Sydney time)

Save in Term 2 for a chance to win the Dollarmites’ sunken treasure.

The Dollarmites want to encourage School Banking students to keep up their regular savings habits. That’s why they are giving students a chance to win a share of the sunken treasure they have found in the Lost City of Savings. 

Here’s how to win.

If you have a Youthsaver account and are aged between 5-13 years, simply make three or more School Banking deposits between 21 April and 4 July 2014 and you’ll be automatically entered into the competition.

Major prize – a family underwater adventure holiday.

  • Five nights’ accommodation at the Sea World Resort & Water Park on the Gold Coast;
  • VIP Passes for two adults and three kids to Sea World, Warner Bros. Movie World and Wet’n’Wild Gold Coast;
  • A Dolphin Family Aqua Adventure; and
  • A $3,000 travel gift card to get you there. 

Runner up prizes.

  • 130 Toys”R”Us Gift Cards to the value of $250 each to spend on your favourite toys.

There will be a separate draw giving one school in each state/territory of Australia the chance to win $1,000 cash to spend as they wish.

Remember, no matter how small, regular deposits will help your savings grow.

View the full terms and conditions

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