This looks like a good one off deal for those in study or with school aged children. The catch is that it requires completing 10 hrs of financial education workshops. Note it's a once only deal per family, unless the child turns 18 years old and claims again.
"You may be eligible to join Saver Plus if you or your partner:
have a Health Care Card or Pensioner Concession Card;
have some regular income from work;
are at least 18 years old; and
are a parent or guardian of a child at school or are doing a vocational training course yourself."
http://www.anz.com.au/personal/bank-accounts/help-select-acc…
"You can apply to join Saver Plus by contacting your local Saver Plus Worker in your region. On being accepted into the program, you will set a 10 month savings goal with help from your Saver Plus Worker and will open an ANZ Progress Saver* account.
The program also includes 10 hours of fun, informal financial education workshops.
Once you successfully complete the program, ANZ matches your savings dollar-for-dollar, up to $500. This money can be used for education costs (either your children's or your own) such as computers, uniforms, books and sports equipment."