Youth Allowance and bank savings

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June 22nd, 2014, 04:50 PM
diannescruffy

Youth Allowance and bank savings

I've searched the website and can't find it anywhere. DS18 has started an apprenticeship and receives Youth Allowance, is there a maximum amount of money he can have in his bank account? Thanks in advance.

Regards,
Dianne
June 23rd, 2014, 01:34 PM
diannescruffy

Re: Youth Allowance and bank savings

:bump:

Regards,
Dianne
June 24th, 2014, 04:26 AM
Kigga

Re: Youth Allowance and bank savings

Six grand as far as I know but don't quote me on that
June 24th, 2014, 11:00 AM
briggsy's girl

Re: Youth Allowance and bank savings

There are limits when you apply for payment. If you are on payments it is different. The 6k is for liquid assets (money you can live off) when you apply. Not sure on account balances. All interest earned is deemed an income so he would need to update his account balances as they increase so that income from interest can be updated. You will need to make a phone call and check
June 24th, 2014, 12:21 PM
diannescruffy

Re: Youth Allowance and bank savings

Thank you hun.

Regards,
Dianne

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