Teaching kids about money

Introducing the concept of money to children can be both educational and fun, setting the stage for a lifetime of financial literacy. By getting your kids saving early while involving them in their earning and spending, you can help them develop positive money habits and set them up for success.

A great first step is including your child in the process of opening a kids’ savings account and explaining how money can grow over time through saving and earning interest. This hands-on experience will demystify the world of finance and empower them to take charge of their own financial future.

After opening your child’s savings account, teach them how to stay safe online as most transactions today are digital. Make the most of options available, like Spriggy, to educate kids about the basics while you still have complete control.

Bank accounts to get your kids started

Not sure where to start when opening a transaction or savings account? These products may suit their needs.

Transaction account with no fees

Get your kids started with a basic everyday account for spending.

  • No monthly fees.

  • No minimum deposits.

  • No ATM withdrawal fees.

  • Link to a NAB Debit card.

Your choice of two savings accounts

Help your kids meet their savings goals with our NAB Reward Saver or NAB iSaver.

NAB Reward Saver

  • Bonus interest with a monthly deposit no withdrawals.

NAB iSaver

  • No minimum deposits and flexibility to make withdrawals.

  • Linked NAB transaction account.

  • If your child is 14 years or older, they can set up an account online. Those who are 13 years and below can apply in a branch but will need to be accompanied by an adult.

To open an account, your child will need to provide two of the following forms of ID:

  • Australian passport

  • Foreign passport

  • Australian driver’s licence

  • Medicare card

  • Birth certificate

Find more information about how to open a bank account for your child.

Financial literacy

Our children’s guides can help you teach kids how to bank and save.

Banking safely online

Keep you and your family safe online with our helpful tips.

Get in touch

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