Best Bank account for kids

• 

  Hearay on 08/04/2013 - 19:25

  http://www.bankwest.com.au/personal/savings-term-deposits/sa…

  6.00% p.a. variable bonus interest rate with no account fees
  bonus interest paid each month when $25-$250 is deposited and no withdrawals are made
  link to a Bankwest Children’s Savings Account

  This used to be 10% last year.

  Best is subjective though, do you want a debit card?

  • 

    tonester on 09/04/2013 - 14:30

    +1

    else rabo 4.95% - http://www.ozbargain.com.au/node/98578

• 

  voiletmay on 09/04/2013 - 08:30

  Be wary of the commonwealth bank dolomite. I made one of these for each of my three kids when they were very young. When they turned into teenagers both girls got a letter from the Commonwealth bank saying the bank was closing their account. My son's account wasn't closed when he reached the same age. Not sure way.

  Not sure why they would close kids accounts like that. But yeah, not very nice for a kid to receive a letter saying their bank account was being closed.

• 

  Karsta on 09/04/2013 - 16:41

  ING I reckon you can't touch it which is the main thing when saving for kids it's all done online I don't know who else. But do it so they can't have it until their 25 so look for good interest rate etc. But Don't use Commonwealth Bank greedy of all banks!! Cheers all the best.