Bank accounts for children

Setting up your child’s first bank account can provide a foundation for their financial future, by helping them understand money and develop habits to improve their financial literacy.

Any account you open on a child’s behalf will be under that child’s legal name. Depending on how old they are and what type of account they open, as their parent or guardian you may need to be an authorised party on the account. There are different levels of access or control you can have by being an authorised party – speak to one of our bankers to find out more.

If your child is 14 or over, you can help them open an account online. If they’re 13 or under, you’ll need to visit a branch.

Find out how to apply for an account for your child and what identification documents you need to supply.

What’s the right age to open an account?

You can open an account for a child at any age, whether they’re a baby or a teenager. With no account fees across our transaction and savings accounts, the account will be ready for your child when the time is right.

That time might be when their piggy bank is overflowing, they receive cash in a birthday card, or when they start getting pocket money.

When your child turns 14 years old, they can apply online for an account on their own.

Children 14 to 17

If your child is 14 years or older, the easiest way for them to open an account is online.

This account will be opened in the child’s name only. If you wish to be an authorised party on their account, you and your child can arrange this later by visiting a branch together.

Your child needs to provide two of the following forms of ID:

  • Australian or foreign passport
  • Medicare card
  • Australian driver’s licence (if they have one).

If your child is 18 or younger, they can also use a birth certificate as a form of ID if another form of ID isn’t accepted.

If they successfully complete electronic verification when applying online, your child’s account will be opened immediately. You can transfer money into their new account right away.

If we can’t match their details online, they’ll need to visit a NAB branch to complete verification before they can withdraw money or make purchases.

Read our advice for helping your teens manage their money

Children 13 and younger

If your child is 13 or under, you’ll need to visit a branch to open an account for them. 

You will need to supply either one Primary photographic documents include:1. Australian or foreign passport
2. Proof of age card 3. Australian or foreign driver licence 4. ID card issued by foreign government or the United Nations.
, or one Primary non-photographic documents include:1. Birth certificate 2. Citizenship certificate 3. Health care card issued by the Australian government.   and one Secondary documents include:1. Medicare card 2. Education certificate (under 18 years) 3. Australian Taxation Office notice  4. Financial benefits notice.  for your child. As their parent or guardian, you may also be required to identify yourself.

When the account is opened, you may need to be an authorised party on their account. There are different levels of access or control you can have on a child’s account – speak to one of our bankers to find out more.

Document checklist for minors (PDF, 100KB), opens in new window

Consider the right account for your child

Our transaction and savings accounts can help children learn the basics of banking. Making regular deposits to a savings account can help them build a strong savings habit. With a linked transaction account, you can teach them the balance between spending and saving, with access to debit cards, ATMs and other ways to pay.

NAB Classic Banking

Help your kids get started with a basic account that has no monthly fees and no minimum deposits.

Features of this account

  • NAB Visa Debit card

  • No ATM withdrawal fees

NAB Reward Saver

Help your kids save money towards something they really want with this specialised account that rewards savers.

Features of this account

  • No monthly fees

  • Bonus interest for regular deposits

NAB iSaver

This savings account could be suitable if you want your kids to access their money without affecting their interest rate.

Features of this account

  • Bonus interest rate

  • No minimum deposits

Debit cards for children

When you open a transaction account for your child, their account can be attached to a NAB Debit Card. Your child will need to be 14 years or older if they would like a NAB Visa Debit card.

Tax and interest earned on children’s savings accounts

If you open a savings account for your child, they may earn interest on any money deposited. Read more about the tax implications of children’s savings accounts, opens in new window.

Help and support

We’re here to help your child manage their new account.

Build healthy money habits

Help your kids take control of their financial future.

Get in touch

Visit a NAB branch

Visit your nearest NAB branch to speak to us in person.

Terms and Conditions

Any advice has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, you should consider whether it is appropriate for your circumstances and view the Personal Transaction and Savings Products Terms and Conditions or NAB Term Deposit Terms and Conditions. Target Market Determinations for NAB products are available at NAB products issued by NAB.

See our personal banking fees and charges and indicator rates for deposit products.
We recommend you consider the personal transaction and savings products terms and conditions and whether the product is appropriate for your circumstances before making any decisions regarding these products. These products are issued by National Australia Bank Limited ABN 12 004 044 937.

Consider the NAB Internet Banking terms and conditions which apply when using NAB Internet Banking and the NAB app, before making any decisions regarding these services. The NAB app is compatible with Android and iOS, minimum platform requirements apply. Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are registered trademarks of Google LLC. Android is a trademark of Google LLC. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.