Help shape a bright financial future for your child

Helping children learn the value of saving, spending responsibly and giving is an important part of raising them. We'd like to lend you a hand to help teach your kids good habits, and prepare them for a sound financial future with our Kids Savings Account.

More Information

Need more information or some hints to help your child start saving? Download the Kids Savings Account brochure.

We also have a Suncorp Kids Savings website that is designed to help you teach your child about money management with a series of fun and engaging interactive tools and worksheets. Click here to find out how you can help your child get started.

You can also enjoy:

Interest	Earn bonus interest in every month where you deposit at least $20 in total and make no more than one withdrawal View current interest rates Interest is calculated daily and paid monthly
Fees	No monthly account keeping fee No Suncorp Bank transaction fees Fees may apply for other services – please refer to the Product Information document (PDF, 747KB) for full details
Record of transactions	With monthly statements so that children can see their savings grow and set short term goals Statements include a savings graph to help track savings progress Through Internet Banking
Access	Unlimited In Branch access Unlimited access via Phone/Internet Banking Withdrawal options are limited to help kids reach their savings goals
Additional Features	To support parents in educating their children about money management, adults have full access to the account while the child is under 12 Children over 12 may have the account solely in their name, or share access with an adult The account automatically transitions to an Everyday Basics transaction account once the child turns 18 years of age, to reflect their changing banking needs Suncorp Bank has a Kids Savings website to help you to teach your child about money. Visit it now

To Apply

You can open a Kids Savings Account by visiting your nearest branch. Find your nearest branch here.

Who can apply?

• Suncorp Personal Deposit Accounts can only be opened by customers for personal use.
• To be eligible for the Kids Savings Account, at least one of the account owners must be under 18 years of age.
• All applicants must be Australian Residents for taxation purposes.
• The parent applying will need to take in suitable identification to the branch in order for us to verify you.

If the child is under 12 years of age:

• A parent/guardian or other adult must give their consent to opening the account.
• Suitable identification of both the child (refer below) and their parent/guardian will be required.
• The parent/guardian or other adult will have full access to operate the account. The child is not permitted to transact on this account..

If the child is 12 years of age or older:

• The account can be opened & operated on by the child either solely or as a joint account with a parent/guardian or other adult.
  
  For the child, the below ID is required:
  • Birth Certificate (full or extract is acceptable).
  • Passport (current or expired within 2 years).
  • Education Institution Letter
    *Must include: stamp/seal of the institution, specifies the name of the child and confirms attendance, signed by the Principal, Head Teacher or Chief Administrator.
  • Citizen Certificate.

Remember, we're always here to help you with any of your banking needs. For more information please call us on 13 11 55 or make an enquiry about the Kids Savings Account.

Growing Up

Suncorp Bank also provides for the changing needs of children and teenagers. Our Everyday Basics Account is designed to complement the Kids Savings Account, enabling a child over 12 years of age to save money using the Kids Savings Account, and access their money with the Everyday Basics Account and the convenience of a standard transaction card - plus all the other accessibility features of an everyday transaction account.

To keep things simple, neither accounts have any monthly account keeping fees – another way we are giving children the best opportunity for a financially bright future.

Things you should know

Kids Savings Accounts issued by Suncorp Metway Ltd. ABN 66 010 831 722. Please read the Product Information document (PDF, 747KB) before making any decisions regarding this product. Visit your nearest Suncorp Bank branch or call 13 11 55 for more information.