Finding the Right Account for Your Child
It is common to want a dedicated place to store your child’s birthday money or start a long-term fund for their future. Finding a savings account that doesn't eat into those small balances with monthly maintenance fees is usually the first priority for most parents trying to build a nest egg.
For kids under 15, the Bankwest Children's Savings Account is generally the primary option available. This account is built specifically to hold funds for a child while giving the parent or guardian full control over the money. Because the adult manages the transactions, you can ensure the savings actually stay saved without unexpected deductions or accidental spending by the child.
| Category | Details |
|---|---|
| Available Methods | In-branch or via phone (must be opened by an adult signatory) |
| Processing Time | Typically open and active on the same business day |
| Eligibility | Children under 15 years of age |
| Key Requirements | Adult's ID and the child's birth certificate or Medicare card |
How to Open the Account as a Parent
In most cases, you’ll need to set this account up directly with a Bankwest representative, as a young child cannot legally open it themselves. Here is how you can generally get the process started:
- Gather your own primary identification (like an Australian driver’s license) along with proof of your child’s identity, such as their birth certificate or Medicare card.
- Because it requires linking an adult as the official signatory, you'll usually need to visit a Bankwest branch or call their customer service line to initiate the application.
- Provide the representative with the child's details to establish the account in their name, while listing yourself as the authorized adult manager.
- Once the account is open, log into your own Bankwest App or Online Banking portal. The new children's account will typically appear linked to your profile dashboard.
- Set up a small initial transfer from your everyday account to ensure the deposit routing is working correctly.
Troubleshooting App Access and Linked Accounts
Sometimes the digital side of banking doesn't cooperate when you are trying to manage your family's finances. If you run into technical hurdles, here is how to handle them:
- MFA / Login issues: If you try to log in to check your child's balance and the SMS security code doesn't arrive, it's typically because of poor mobile reception. Step outside to catch a better signal and wait a full minute before hitting resend. If that doesn't work, give Bankwest a quick call to check if your mobile number needs updating on your adult profile.
- Browser or app errors: You might tap on the new kids' account in the app, but the screen hangs or refuses to load the transaction list. This depends on the situation, but it's often just a temporary caching glitch on your phone. Closing the app entirely and reopening it usually fixes the problem; if not, checking via a desktop browser is a reliable backup plan.
- Locked account / ID / access issues: If you accidentally mistype your password too many times while trying to show your child their savings, the system will lock your Personal Access Number (PAN) to keep the money safe. You won't be able to bypass this temporarily. You'll generally need to use the online password reset tool or call the bank to verify your identity and get your access back.
Pro-Tip: To help the savings grow faster without having to think about it, set up an automated recurring transfer from your main account on the day you get paid. Even transferring just $10 a week ensures the child's balance steadily increases, and it removes the temptation for you to accidentally spend the cash you meant to put away for them.
Frequently Asked Questions
Can my child use a debit card to spend their savings?
In practice, the Bankwest Children’s Savings Account is strictly for saving, which means the bank doesn't issue a debit card or ATM access for this specific product. Because the account is designed for kids under 15, the adult signatory is the only person authorized to move the funds. If your child actually needs a card to buy lunch or pay for public transport, this account won't work for daily spending. You'll usually need to look into an everyday transaction account once they are old enough, or simply transfer their pocket money into your own account and hand them the physical cash.
What happens to the account when my child turns 15?
When your child reaches their 15th birthday, they usually age out of this specific children's product. The bank's systems flag the birthdate, and you’ll typically receive a letter or notification asking you to transition the funds to a different product. The money doesn't just disappear or lock up permanently, but the account will need to be converted into a standard youth or everyday account. What this means is you should contact Bankwest around their 15th birthday to discuss upgrading the account, which might finally allow your teenager to get their own debit card and digital banking login.
Why can't I see the children's account in my own banking app?
If you just opened the account over the phone but it isn't showing up on your dashboard alongside your regular checking account, it usually means the bank hasn't fully linked the two profiles yet. The system needs to recognize you as the authorized signatory and connect that permission to your specific PAN. One exception is if the account was opened under your partner's name, in which case it will only appear on their app, not yours. If it has been a few business days and you still can't see the balance, you’ll need to call Bankwest support so they can manually link the child's account to your online banking view.
