Can I open a bank account for my child in Australia?
Yes, it is possible, many Australian banks offer kids or youth accounts.
What are the age requirements for child accounts?
If you are under 14 years of age, such an account can be opened together with your parents, who will have access to all transactions. To open an account, you will need both parent and child documents, like a birth certificate or Medicare card.
If the child is 14 years or older, they can usually open a savings account in their name.
What are the features of child savings accounts?
Often a client can open several accounts. There are usually no account maintenance fees, and the interest rate may vary depending on the account balance.
However, there may be restrictions on the amount of basic transactions by the bank or parents.
Banks often provide a bonus for opening such accounts, for example, they can credit $30 if you deposit $100 into the account within a month of opening it.
Which banks do children's accounts? Who offers the best savings account for kids in Australia?
Our analysts have analyzed the Australian market of accounts for children and youths and prepared the most competitive offers for your consideration on this webpage.
Calculate income on a savings account for 1 year (example):
| Amount, $ | Rate, % | Income, $ |
| 9 000 | 0,15% | 13,50 |
| 9 000 | 0,15% | 13,50 |
| 9 000 | 0,15% | 13,50 |
| 24 000 | 2,15% | 516,00 |
| 24 000 | 2,15% | 516,00 |
| 24 000 | 2,15% | 516,00 |
| 95 000 | 4,05% | 3 847,50 |
| 95 000 | 4,05% | 3 847,50 |
| 95 000 | 4,05% | 3 847,50 |
See the similar FAQ about savings in Australian banks:
- What funeral expenditures can be paid out of the deceased available funds
- What is a passbook account?
- What superannuation does Bendigo Bank offer?
- When did Suncorp buy AAMI?
- Where do I find NAB dividend details?
Details of companies offering the financial services:
ANZ Bank
Head office’s address: 833 Collins Street
Contact center: 13-13-14
Phone: 61-3-9683-9999
Mail address: 833 Collins Street Docklands, Melbourne
Web-site: http://www.anz.com
Swift code: ANZBAU3M
Financial institution code: ANZ
Stock code: ANZ
ABN: 11 005 357 522
BSB: 015-891
Australian Military Bank
Head office’s address: 45 Clarence Street
Contact center: 1300 13 23 28
Phone: +61 2 9240 4122
Mail address: PO Box H151, Australia Square, NSW 1215
Web-site: https://www.australianmilitarybank.com.au
Swift code: AUMLAU21
ABN: 48 087 649 741
BSB: 642 170
Australian Mutual Bank
Head office’s address: 59 Buckingham Street
Contact center: 13 61 91
Phone: +61 2 9678 2111
Mail address: PO Box 881 Haymarket NSW 1240
Web-site: https://australianmutual.bank/
Swift code: CUSCAU2S
ABN: 93 087 650 726
BSB: 611 100
Bank Australia
Head office’s address: 222 High Street
Contact center: 61-132888
Phone: 61-3-9854-4666
Mail address: Bank Australia Locked Bag 2035, Collingwood VIC 3066 Australia
Web-site: https://bankaust.com.au/personal
ABN: 21 087 651 607
BSB: 313 140
Bank First
Head office’s address: 117 Camberwell Rd
Contact center: 1300-654-822
Phone: 61-3-9834-8560
Mail address: PO Box 338 Camberwell Vic 3124
Web-site: https://www.bankfirst.com.au/
ABN: 44 087 651 769
BSB: 704-191
Bank of Melbourne
Head office’s address: 525 Collins Street
Contact center: 61-132266
Phone: 61-3-9982-4186
Mail address: 525 Collins Street Melbourne
Web-site: https://www.bankofmelbourne.com.au/
Swift code: SGBLAU2S
ABN: 33 007 457 141
BSB: 193-879
Bank of Queensland
Head office’s address: 100 Skyring Ter
Contact center: 61-1300-557-272
Mail address: 100 Skyring Ter L 6, Newstead, Queensland, 4006
Web-site: http://www.boq.com.au/
Stock code: BOQ
ABN: 32 009 656 740
BSB: 124-001
Bank of Queensland
Head office’s address: 100 Skyring Ter
Contact center: 61-1300-557-272
Mail address: 100 Skyring Ter L 6, Newstead, Queensland, 4006
Web-site: http://www.boq.com.au/
Stock code: BOQ
ABN: 32 009 656 740
BSB: 124-001
Bank SA
Head office’s address: 97 King William Street
Contact center: 13-13-76
Phone: 61-2 9155-7850
Mail address: 97 King William Street, Adelaide, SA
Web-site: http://www.banksa.com.au/
Swift code: SGBLAU2S
ABN: 33 007 457 141
BankVic
Head office’s address: 505 Little Collins Street
Contact center: 61-136373
Phone: 61-136373
Mail address: Level 8, 505 Little Collins Street, Melbourne
Web-site: http://bankvic.com.au/
ABN: 33 087 651 661
BSB: 704 230
Bendigo and Adelaide Bank
Head office’s address: The Bendigo Centre
Contact center: 1-300-361-911
Phone: 61-2-8023-5417
Mail address: The Bendigo Centre PO Box 480 Bendigo Vic 3552
Web-site: http://www.bendigobank.com.au/
Swift code: BENDAU3B
Stock code: BEN
ABN: 11 068 049 178
BSB: 633-300
Beyond Bank Australia
Head office’s address: 100 Waymouth St
Contact center: 13-25-85
Phone: 61-8-8205-8888
Mail address: GPO Box 1430 Adelaide SA 5001
Web-site: http://www.beyondbank.com.au
Swift code: CUSCAU2S
ABN: 15 087 651 143
BSB: 805022
CommBank
Head office’s address: 201 Sussex Street
Contact center: 13-22-21
Phone: 61-2-8055-4001
Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street
Web-site: https://www.commbank.com.au/
Swift code: CTBAAU2S
Stock code: CBA
ABN: 48 123 123 124
Defence Bank
Head office’s address: 31 Queen St
Contact center: 1-800-033-139
Phone: 61-3-8624-5888
Mail address: PO Box 14537 Melbourne VIC 8001
Web-site: http://www.defencebank.com.au/
Financial institution code: DBL
ABN: 57 087 651 385
BSB: 803205
Defence Bank
Head office’s address: 31 Queen St
Contact center: 1-800-033-139
Phone: 61-3-8624-5888
Mail address: PO Box 14537 Melbourne VIC 8001
Web-site: http://www.defencebank.com.au/
Financial institution code: DBL
ABN: 57 087 651 385
BSB: 803205
Defence Bank
Head office’s address: 31 Queen St
Contact center: 1-800-033-139
Phone: 61-3-8624-5888
Mail address: PO Box 14537 Melbourne VIC 8001
Web-site: http://www.defencebank.com.au/
Financial institution code: DBL
ABN: 57 087 651 385
BSB: 803205
Gateway Bank
Head office’s address: 68 York St
Contact center: 1300 302 474
Phone: +61 2 9307 4200
Mail address: GPO BOX 3176 SYDNEY NSW 2001
Web-site: https://www.gatewaybank.com.au/
Swift code: ASLLAU2CGTW
ABN: 47 087 650 093
BSB: 676-000
Greater Bank
Head office’s address: 103 Tudor Street
Contact center: 13 13 86
Phone: +612 4921 9111
Mail address: Greater Bank PO Box 173, Hamilton NSW 2303
Web-site: https://www.greater.com.au/
Swift code: ASLLAU2CGBS
ABN: 88 087 651 956
BSB: 637 000
Heritage Bank
Head office’s address: 400 Ruthven St
Contact center: 13-14-22
Phone: 61-7-4694-9000
Mail address: PO Box 190 TOOWOOMBA QLD 4350
Web-site: https://www.heritage.com.au
Swift code: HBSLAU4T
ABN: 32 087 652 024
BSB: 638-603
Hume Bank
Head office’s address: 492 Olive St
Contact center: 1-300-004-863
Mail address: PO Box 343 Albury NSW 2640
Web-site: https://www.humebank.com.au
Financial institution code: HUM
ABN: 85 051 868 556
BSB: 640-000
P&N Bank
Head office’s address: 556 Wellington Street
Contact center: 13-25-77
Phone: 61-132577
Mail address: Police & Nurses Limited Level 6, 556 Wellington Street Perth WA 6000
Web-site: http://pnbank.com.au/
ABN: 69 087 651 876
Queensland Country Bank Limited
Head office’s address: 333 Ross River Road
Contact center: 1800 075 078
Phone: +61 7 4412 3526
Mail address: PO Box 679 Aitkenvale QLD 4814
Web-site: https://www.queenslandcountry.bank/
Swift code: QCCNAU41XXX
ABN: 77 087 651 027
BSB: 654 000
Queensland Country Bank Limited
Head office’s address: 333 Ross River Road
Contact center: 1800 075 078
Phone: +61 7 4412 3526
Mail address: PO Box 679 Aitkenvale QLD 4814
Web-site: https://www.queenslandcountry.bank/
Swift code: QCCNAU41XXX
ABN: 77 087 651 027
BSB: 654 000
Queensland Country Bank Limited
Head office’s address: 333 Ross River Road
Contact center: 1800 075 078
Phone: +61 7 4412 3526
Mail address: PO Box 679 Aitkenvale QLD 4814
Web-site: https://www.queenslandcountry.bank/
Swift code: QCCNAU41XXX
ABN: 77 087 651 027
BSB: 654 000
Westpac Bank
Head office’s address: 275 Kent Street
Contact center: 13-20-32
Phone: 61-2-9155-7700
Mail address: 275 Kent Street, Sydney, NSW
Web-site: https://www.westpac.com.au/
Swift code: WPACAU2S
Financial institution code: WBC
Stock code: WBC
ABN: 33 007 457 141
BSB: 032-063