Accounts for kids 7 to 12 years old
Accounts for kids 7 to 12 years old
Whether it’s watching their savings grow or learning to manage pocket money, there’s an account that suits.
Benefits
$0 fees
There's no account or withdrawal fees for kids and teens.
Flexible options
Choose how you and your child manage their money.
Easy to save
Earn premium interest on your Serious Saver account if you make no withdrawals and deposit at least $20 on or before the last business day of the month.
EFTPOS card with a Jumpstart account
Help your 7 to 12 year-old learn to manage money (and spend their treat money, pocket money or birthday money wisely) with an EFTPOS card on an everyday (Jumpstart) account.
Choose your account
Get started with an ANZ Jumpstart account
A Jumpstart account can only be opened in your child's name. A parent or guardian must open the account.
You can be given ‘information only’ access on your child’s account. This means you can get information about the account, including transaction history and balances, over the phone and in branch but you won’t see the account in your ANZ goMoney app or ANZ Internet Banking, as it is in the child’s name.
Once opened, your child:
- Can ask us to give them sole access to their account(s) when they turn 13 years old, without your consent to this change.
- Can get cash out of the account at a branch, without your permission.
- Has access to the goMoney app and Internet Banking, with your initial permission.
- Can have an EFTPOS card for the account, with your permission.
- Pays no account fees.
- Pays no transaction fees.
Earn premium interest with an ANZ Serious Saver account
Standard interest rate
Standard interest rate
Rate is unavailable
Calculated daily and paid on the last business day of the month.
Premium interest rate
Premium interest rate
Rate is unavailable
Premium interest is paid if you make no withdrawals and deposit $20 or more before the end of the month. Calculated on your average balance for the month, and paid on the last business day of the month.
Total interest rate
Total interest rate
Rate is unavailable
Choose whose name the account will be in
Option 1: Open the account in your name
If you (the parent or guardian) want to open an account for your child, but want to have control over it, you can open the account in your name but hold the money in trust for your child. We call this an informal trust account.
While you will have full access to money in the account, any withdrawals must be for the benefit of your child.
It also means you have:
- Visibility and control over the account.
- Access through your ANZ goMoney app or ANZ Internet Banking.
- One free withdrawal a month (losing premium interest for that month). Then it’s $5 per month for two or more withdrawals.
From 13 years old, if your child is ready, they can open a new account themselves in their own name.
Option 2: Open the account in your child’s name
You can be given ‘information only’ access on your child’s account. This means you can get information about the account, including transaction history and balances, over the phone and in branch but you won’t see the account in your goMoney app or Internet Banking, as it is in the child’s name.
Once opened, your child:
- Can ask us to give them sole access to their account(s) when they turn 13 years old, without your consent to this change.
- Can get cash out of the account at a branch without your permission.
- Can access the account in their own goMoney app and Internet Banking, with your permission.
- Pays no fees for withdrawals.
Key differences of the two Serious Saver options
Option 1: Account in a parent's or guardian's name | Option 2: Account in a child's name | |
|---|---|---|
Who can withdraw or transfer money from the account at a branch? | Parent or guardian only (if used for child’s benefit) | Child only |
Who can use the account in their goMoney app and Internet Banking? | Parent or guardian only | Child only (with parent or guardian permission) |
Who can get information about the account over the phone and in a branch? | Parent or guardian only | Child, and parent or guardian (if they have ‘information only’ access) |
Earn premium interest | Yes | Yes |
Account fees | $0 | $0 |
Transaction fees | One free withdrawal a month* | $0 |
EFTPOS card | No | No |
* $5 per month for two or more withdrawals.
How to apply
Apply by calling us, then visiting a branch
When you call us, we'll ask some questions then make an appointment for you to visit a branch.
Call us seven days a week, 7.30am - 9pm.
From overseas: +64 4 470 3142
What to bring to your appointment
You'll need to bring:
- The child’s birth certificate or a guardianship order.
- Proof of address: This can be proof of the parent's or guardian's address, so long as your relationship to the child can also be proved, e.g. your name on the birth certificate. See accepted forms of proof of address (PDF 332.4KB).
- IRD numbers:
- The parents' or guardians’, if the account will be under your name.
- The child’s, if the account will be in their name. If they don’t have an IRD number, they might get charged the wrong amount of interest. Read about IRD numbers on the IRD website.
- For non-residents: The visas allowing residence for both parent and child, and your international tax information.
Helping kids learn about money
Teaching kids how money works and encouraging good savings habits will help set them up well for the future.
KiwiSaver for kids
Find out why opening a KiwiSaver account for your tamariki could be well worth considering.
How to bank safely
We’re committed to keeping your family’s banking safe. By working together, we can keep you even safer. Find out what you should do to bank safely.
Important information
Our financial advice provider statement has some important information you should know about ANZ and our financial advice services. Please take the time to read it.
Our eligibility criteria apply. Fees and interest rates are subject to change. Non-standard fees may apply. Please use the following links for full details of our Terms and Conditions, Fees and Charges (PDF 166KB), ANZ EFTPOS Card and ANZ Visa Debit Card Conditions of Use (PDF 103KB), and ANZ Electronic Banking Conditions (PDF 129KB).
Registration is required for ANZ goMoney, ANZ Internet Banking and ANZ Phone Banking. Telephone, mobile operator and internet service provider charges may apply to these services. Eligibility criteria and terms and conditions apply. See anz.co.nz/terms for more information.