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Youth Account

Youth

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How the Account works for you:

  • No monthly account fees and no withdrawal fees means you can save more
  • You’ll have 24/7 access to your money via our rediATM network (parental/guardian consent is required)
  • Access your account through our Internet Banking -online purchases and EFTPOS
  • Keep track of your savings progress with a statement every six months or look at your transactions anytime through Internet Banking
  • Your choice of an Interest earning (Student Savings) or non-interest earning (Student Transaction) account

 

What comes with your Account?

  • 50 page deposit book
  • Wallet/holder for your deposit book
  • VISA Debit Card (parental/guardian consent is required)
  • Bank of Sydney Visa Debit Card

What do I need to apply?

  • Be between 14 & 18 years of age
  • Australian residential address
  • Tax File Number (TFN) or TFN Exemption*
  • Your birth certificate
*If you are over 16 years of age a TFN needs to be lodged otherwise maximum withholding tax applies
 

How can you access your money?

There are multiple ways to access your money:

  • At over 3,400 rediATMs using a VISA Debit Card (parental/guardian consent is required)
  • Online and Mobile Banking
  • Eftpos
  • BPAY®
  • payWAVE
  • Tap and pay with a compatible mobile
  • Branches
 

How can I open an Account?

Enquire

  • You can open an Account at your nearest branch

Student Savings & Transaction Accounts
Interest Rates
Student Savings1.85% p.a.
Student Transaction0% p.a.
Fees
Annual Fee$0.00 
Monthly Fee$0.00 
Features
Interest Calculated Split tier balance method
Interest PaymentsMonthly
StatementsPaper statements every 6 months If account is linked to a VISA Debit Card, then statement cycle is monthly
Online BankingYes. Note under 14yrs requires parental consent and is Enquiry Only Access.
Debit Card Yes, for customers over 14yrs with parental consent
Android PayYes 
Direct Entry (Credit/Debit)Yes 
Minimum Amount$1 
ATM/EFTPOS AccessYes 
Periodic PaymentsYes 
Cheque BookNo