Youth eSaver Account
Features & benefits
Designed especially for kids up to 17 years old^, our Youth eSaver Account offers a generous interest rate without monthly fees.
$0 monthly fees
No monthly account fees, no online and mobile banking transaction fees, and no telebanker transaction fees.
Access your money – keep your interest
Dip into your Youth eSaver savings when you need to without affecting your interest rate.
Generous interest rates
Earn a 3.25% p.a. variable interest rate** on balances up to $5,000 and receive regular monthly interest payments.
Contribute easily
Your family and friends can pay birthday or pocket money directly into the Youth eSaver Account.
Rename your accounts
Add a personal touch to your banking with an account nickname. It's a great way to help manage your finances.
Manage your accounts in one place
Send super-fast payments via online and mobile banking with the New Payments Platform (NPP).
Rates & Fees
For further information and details, see all Schedule of Fees, Accounts, and Access Facilities and Terms & Conditions.
Interest rates on balances
up to $5,000
3.25
%
p.a.
over $5,000
1.00
%
p.a.
How it works
- A maximum of one Youth eSaver account per eligible child.
- A child under 10 must have a parent or guardian open and operate the account as a signatory. The child cannot personally transact on the account.
- Once the child turns 10 years of age, the child can remove a parent or guardian as a signatory, or remove their authority to obtain account information, at any time.
- Parents or guardians can be given signatory access or third-party authority to obtain information on the account if required.
How to apply
The process
1. Ensure you are eligible to apply
There are a few eligibility requirements you should be aware of before applying for a Great Southern Bank Youth eSaver Account.
2. Apply online
It should take about five minutes. You will need proof of ID.
3. Make your first deposit
Pay in some money to get your new account up and running.
4. Watch your savings grow
Set aside your savings in your Great Southern Bank Youth eSaver Account and earn a high interest rate.
Eligibility
Are you eligible?
- Must be aged up to 17 years and be the sole account holder
- If under 10 years, a parent or guardian must authorise the account opening and be listed as a signatory on the account to transact on behalf of the child
- Must be an Australian resident with an Australian address
What you need to apply online
- An email address and a contact number
- Existing Great Southern Bank customer number (if you already bank with us)
- Proof the signatory is the parent or legal guardian of the child (Medicare card, birth certificate or legal guardianship documents)
- Child's Medicare card, birth certificate, Australian passport or driver's licence
You might also be interested in
Everyday Youth Account
An everyday account for 10 to 17-year-olds
FAQS
Frequently asked questions
Who is Great Southern Bank?
Great Southern Bank is the trading name of Credit Union Australia Limited (CUA), Australia’s largest Customer Owned Bank. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders.
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Contact us to get started, we’re here to help!
How do I switch to Great Southern Bank?
Switching to Great Southern Bank is easier than you think and takes less than five minutes! All you need to do is open an account. It’s that simple.
Plus, we can help you switch your salary, direct debits, and regular payments to your brand-new Everyday Edge Account.
What bank accounts are available at Great Southern Bank?
Everyone is different, so it makes sense that we have more than one type of bank account.
Follow the links below to view our other bank accounts and find the one that suits you best.
Can I do my banking on my mobile phone?
Absolutely. Simply download our mobile banking app to do your banking anywhere from the convenience of your phone.
Can I do my banking online?
Yes. Great Southern Bank Online Banking is easy to use, convenient and secure. As a new customer you'll be set up with online banking as soon as you apply.
If you are already a customer, you can register for online banking in less than a minute and get started straight away.
How secure is mobile banking and online banking?
We take security very seriously and have several features to keep your online and mobile banking safe and secure.
For starters, you’ll always need your customer number and password to log in to digital banking. You can also take advantage of our special features for extra security and peace of mind.
Our key security features include:
- Fingerprint login
- Facial login
- Transaction notifications
- Security questions
- Change your password anytime
While we take proactive steps to fight fraud, it’s important that our customers also take an active role in keeping their accounts secure.
Our online security checklist contains more tips and tricks to keep your account secure. And as always, never share your password with anyone.
Important Information
Rate current as at 12 August 2022 and subject to change.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.
** Rate applies on a stepped basis. Interest paid at 3.25% p.a. on balances up to $5,000, then at 1.00% p.a. on that portion of the balance over $5,000.
^ Great Southern Bank Youth eSaver account converts to a Great Southern Bank Goal Saver account once you turn 18 years old.
To view the Target Market Determination for this product, please click here.
New account application
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Important Information