Child Saving Account | Way Cool Saver Kids Account

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.
Automatically save - with P&N's Pay&Save. Link to an & Transaction Account with Pay&Save and you can round up Visa Debit purchases to the nearest dollar – and save the difference into your Way Cool Saver account.
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 (Variable)	Interest Calculated	Interest Credited
Way Cool Saver	$0 - $4,999	1.75% 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	Nil
Base Balance	None
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 EFTPOS BPAY® Auto Transfer (internal/external) Direct Debit Cash Withdrawal Manual Transfer
Transaction fees & charges
VISA Purchase	Not Available
[email protected]™ deposit	Not Available
[email protected]™ withdrawal	Not Available
Bank Cheque Withdrawal	Not Available
Member Cheque	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. Simply get all your details ready and choose how to apply.

What you need

Have an Australian mailing and residential address.
Children aged 12–15 years will need to become a P&N Bank member by buying a $10 share.
Parents/guardians who aren’t an existing P&N Bank member will need their Australian driver’s licence or passport.
Read and agree to our Privacy Statement, Terms and Conditions and the Product Disclosure Statement.
Parent/guardians need to provide the child's birth certificate.
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.

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.

Over the phone

Call us on 13 25 77 and one of our friendly consultants will help you with your application.

Way Cool Saver Account