BSB 806 015

To give you the best possible experience, this site uses cookies. Learn more about cookies.

BSB 806 015

Way Cool Saver Account

The Way Cool Saver is a children’s account, for those aged 0 - 15 years that earns interest on balances up to $5,000.

For kids

Aged 0 - 15 years

Interest paid

Balances up to $5,000

Monthly fee


ATM card access

For 12 - 15 years

The P&N Bank Way Cool Saver Savings Account is specially designed for kids to help them start on a regular savings plan. With no account fees, limited transaction fees and no minimum monthly deposit required to earn interest, it’s an easy to understand account that will get your kids off to a great financial start.

  • Just for kids - between 0 and 15 years of age.
  • Start saving today - no minimum monthly deposit required to earn interest and no minimum opening balance.
  • No monthly fee - get more bang for your buck. We don't charge any monthly service fees on this account.
  • Fee free transactions - keep more of your money. A range of fee free transactions are included in your Way Cool Saver Account.
  • Teach your kids the true value of money - give them access to the account with an optional card (for children over 12 with parent/guardian permission).
  • Easy access - kids can access their funds via SMS banking. (They'll need your permission for Internet Banking, Mobile App and Phone Banking.)

Interest rates

Product Name Tier Rate
Interest Calculated Interest Credited
Way Cool Saver $0 - $4,999 3.05% p.a. Daily balance Last day of every month
Way Cool Saver > $5,000 0.00% p.a. Daily balance Last day of every month

Way Cool Saver Account fees & charges

Account fees & charges
Monthly Base Balance Fee


Base Balance


Unlimited Free Transactions
  • Payroll Credit
  • Direct Credit
  • Internet Banking Transfer^
  • Mobile App Transfer^
  • Phone Banking Transfer^
  • Express Cheque Deposit
  • Cheque Deposit
  • Cash Deposit (notes)
  • Direct Debit from another institution to P&N Bank
  • BPAY®
  • Auto Transfer (internal/external)
  • Direct Debit
  • Cash Withdrawal
  • Manual Transfer
Transaction fees & charges
VISA PurchaseNot available
Bank@Post™ depositNot available
Bank@Post™ withdrawalNot available
Cheque WithdrawalNot available

The table above covers fees and charges related to this product.

Other fees & charges that apply to all of our accounts can be found on our fees and charges page.

^ Internet Banking Transfer, Mobile App Transfer and Phone Banking Transfer access is only available to parents / guardians

# Children aged 12-15 can have rediATM card access with parent or guardian approval

® Registered to BPAY Pty Ltd ABN 69 079 137 518

It’s easy to apply for a Way Cool Saver with P&N Bank. Once you have all your details ready, one of our friendly branch staff will be able to help you open the account.

How to get started

In person

Apply for a bank account in person at your nearest branch. Make sure you bring along all the documents you'll need.

What you'll need

  • An Australian mailing and residential address.
  • Parents or legal guardians will need to provide a driver's licence or Australian passport in their own name; as well as either a birth certificate OR an Australian passport in the child's name along with proof of legal guardianship.
  • To read and agree to our privacy statement and terms and conditions.

You don’t have to quote your Tax File Number or claim an exemption, however, if you don’t, you could have withholding tax deducted from any interest credited. You can supply your Tax File Number at any time by visiting a branch or contacting us.

Need more information?

Contact us on 13 25 77, we're happy to help.

Please note that Way Cool Saver accounts cannot be opened over the phone due to our staff needing to sight original documents.

Up to 3.05 % p.a. Interest Rate

We'd like to use your current location

For a more localised experience please enter your location below...


Set your location for a more localised experience.