Which bank do you have your kids savings account?

[BrightSparkles]

I'mk asking because i want to close my girls accounts at our bank and change it. I'm not happy with where the accounts are currently so want to change it.

[emmjayt]

We've got DD's with Westpac. So far, so good

[indie24]

Comm bank. No real reason why we just opened it there

[Mrs P]

Bankwest (in WA) - they offer 10% interest which is great, though I did see an ad recently that looks like its dropped to 8% or something... There's a max deposit of $250/ mth and after one year the money is moved to a linked childrens account and you start again essentially. Still a good deal of interest earnt in a year though.


Sent from my iPhone using Tapatalk

[Phteven]

Which bank.

[deletedit]

CBA, cos you can open kid's accounts online with the numbers off their birth certificates.

Also, you can't open kid's accounts online with the numbers off their birth certificates. You have to go into a branch, about a week after the message comes back online saying it didn't work. Misleading, I say.

[Astrid]

ANZ - I can access them via my online banking. Makes is easy to transfer and to see what is going on.

Just check out what the ATO has to say about kids accounts and the interest earnt (you may have to declare the interest on your tax return). The threshhold for interest is $420 before PAYG is withheld. So there may be a need to look at other investment options once significant interest is being earnt.

[~TT40~]

we just opened a commonwealth one. only cause we are both with them, i never thouhht to shop around.
..she did get a free money box tho...that was nice.

sent via my vortex manipulator!

[BrightSparkles]

ANZ - I can access them via my online banking. Makes is easy to transfer and to see what is going on.

Just check out what the ATO has to say about kids accounts and the interest earnt (you may have to declare the interest on your tax return). The threshhold for interest is $420 before PAYG is withheld. So there may be a need to look at other investment options once significant interest is being earnt.

This is who i was with. When I closed the accounts the woman asked me why I was doing it. I told her how unhappy I have been with ther service I have been reciving from them and how disrespectful they were. Her response to me... "Oh, oh well."

I know I'm only 1 customer but really, she didn't even TRY to convince me to stay.

[trishalishous]

bankwest (10%), and roll it into a ubank account at the end of the year (5%)

[Maruschke]

Heritage

[Jennifer13]

Bankwest, for the bonus saver as well. Must go in and start one for DD2.

DD1 also has a Commbank one too through the school banking program. She puts in whatever amount she chooses from her pocket money each week and gets a token. She can swap the tokens for prizes. She's up to $12.40 now and is so proud of her savings efforts.

[PumpkinZulu]

Bankwest (in WA) - they offer 10% interest which is great, though I did see an ad recently that looks like its dropped to 8% or something... There's a max deposit of $250/ mth and after one year the money is moved to a linked childrens account and you start again essentially. Still a good deal of interest earnt in a year though.


Sent from my iPhone using Tapatalk

Same here We shopped around and settled with this. We also moved most of our accounts Bankwest as well.

[Mems89]

BankWest here too. Love them! We are considering opening our own accounts through them.

[Astrid]

This is who i was with. When I closed the accounts the woman asked me why I was doing it. I told her how unhappy I have been with ther service I have been reciving from them and how disrespectful they were. Her response to me... "Oh, oh well."

I know I'm only 1 customer but really, she didn't even TRY to convince me to stay.

Just curious as to what they did wrong with their service (no I am not employed by the ANZ ) I found it to be quite good across multiple branches.

[Novella]

CBA because we are with them and it was easier to keep it all in one place

[~*familyof3*~]

bankwest here too

[Hansie]

Bankwest here too & then I invest the annual amount into shares through E-Trade. Shares are in my name in trust & go on my tax return being the lowest income earner. I also re-invest interest & birthday money back into the Bankwest over a couple months to compound the interest also received.