How to teach your kids about money
Set your kids up for financial wellness in the future. Here are our tips for teaching your children the value of money.
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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
$0
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.
Product Name | Tier |
Rate
(Variable) |
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 |
Account fees & charges | |
Monthly Base Balance Fee | Nil |
Base Balance | None |
Unlimited Free Transactions |
|
Transaction fees & charges | |
VISA Purchase | Not available |
Bank@Post™ deposit | Not available |
Bank@Post™ withdrawal | Not available |
Cheque Withdrawal | Not 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.
Apply for a bank account in person at your nearest branch. Make sure you bring along all the documents you'll need.
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.
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
View the Terms and Conditions
View the Interest Rate Schedule
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