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Kids, teens and youth banking

Childhood is the best time to teach kids about money. Teaching your children how to manage their money from an early age could help them to develop a healthy relationship with money. Open their first savings account with us to kickstart their journey of saving and banking with ease.

ANZ Progress Saver - a great first bank account for young people

Benefits of having an ANZ Progress Saver

ANZ Progress Saver gives young people a good introduction to the benefits of saving regularly and earning interest.

  • $0 monthly account service fee
  • Under 18s can apply for a ANZ transaction fees waiverdisclaimer
  • Set up regular deposits to help them save
  • Track their progress with a savings graph on every statement
  • You can qualify for bonus interest when you deposit at least $10 in one transaction, and no withdrawals, transfers, fees or charges are processed to the account in that month.
  • If you meet the eligibility criteria for bonus interest in a qualifying month you can generally earn interest from the last business day of the previous month up to (but excluding) the last business day of the qualifying month (T&Cs apply)disclaimer
  • The date a transaction, withdrawal, transfer, fee or charge is treated as being made or processed to an account may differ from the calendar day on which it occursdisclaimer
  • Eligible for the set a savings goal feature in the ANZ Appdisclaimer

How bonus interest works

If they meet the eligibility criteria for bonus interest in a month they could qualify for interest of up to

 total ratedisclaimer

Total rate includes base interest, currently  and bonus interest, currently  If they meet the eligibility criteria for bonus interest in a qualifying month they can generally earn interest from the last business day of the previous month up to (but excluding) the last business day of the qualifying month.

 

See Savings and Transaction Account T&Cs for qualifying period, qualifying conditions and the period you earn interest if you qualifydisclaimer

They can qualify for bonus interest if they make a single deposit of at least $10 in a month and there are no withdrawals fees or charges processed to the account that month. If they meet the eligibility criteria for bonus interest in a qualifying month they can generally earn interest from the last business day of the previous month up to (but excluding) the last business day of the qualifying monthdisclaimer (T&CS apply)disclaimer

The date a transaction, withdrawal, transfer, fee or charge is treated as being made or processed to an account may differ from the calendar day on which it occurs.disclaimer

Can't make a deposit or need to make a withdrawal in a month?

They won't qualify for Bonus Interest, but that’s OK, they may still get the base rate of interest.disclaimer

Base rate of interest

How to apply

Take a moment to review how ANZ Progress Saver works to help you decide if it's right for your child.

 

Features

  • Qualify for bonus interest (in addition to the current variable base rate of interest) if they make a single deposit of at least $10 in a month and there are no withdrawals, transfers, fees or charges processed to the account in that month. If they meet the eligibility criteria for bonus interest in a qualifying month, they can generally earn bonus interest from the last business day of the previous month up to (but excluding) the last business day of the qualifying monthdisclaimer (T&Cs apply)disclaimer
  • No monthly account service fees
  • Unlimited Internet Banking Transactions, as well as one other fee-free ANZ Transaction each monthdisclaimer
  • The ability to make payments online, by phone or in-branch

Things to consider

  • You should carefully review the T&Cs to understand the qualifying and eligibility criteria for earning interest.
  • Taking money out or incurring any fees or charges can disqualify you from earning bonus interest. The date a transaction, withdrawal, transfer, fee or charge is treated as being made or processed to an account may differ from the calendar day on which it occursdisclaimer
  • If you don't qualify for bonus interest, you may still get the base ratedisclaimer
  • Other charges may apply after the first ANZ transactiondisclaimer
  • Generally, ANZ won’t process a transaction that will overdraw your account. However, if your account is overdrawn, you may be charged interestdisclaimer
  • Setting up a monthly deposit may help you qualify for bonus interestdisclaimer
  • This account is for personal use
  • If you need a more flexible saving option, consider our Online Saver Accountdisclaimer

Open an account

0-11 years old

Call us or visit a branch to open an account in Trustdisclaimer for your child. Then bring their birth certificate and acceptable ID for yourself into a branch.

12 - 17 years old

Open an account in their name or jointly with a parent or guardian if your child can sign a consistent signature. Otherwise, apply in Trust.disclaimer

Apply now

For joint account applications, after ANZ has opened your account, you will need to visit an ANZ branch with all account holders to sign a Joint Account Authority Form. You will not be able to access your joint account until this form is signed.

Other ways to apply

ANZ Internet Banking

If you’ve registered, log in and select open a new account. Then the click on the Bank accounts tab and look for ANZ Progress Saver.

Log in

Call us

We're available Mon-Fri 8.00am to 8.00pm (AEST).

13 33 33

Visit a branch

Locate an ANZ branch near you.

Locate us

Ready to apply?

Apply now

It takes less than 10 minutes to apply.

Other ways to apply: Visit any ANZ Branch or call 13 33 33 Mon to Fri, 8am to 8pm.

For joint account applications, after ANZ has opened your account, you will need to visit an ANZ branch with all account holders to sign a Joint Account Authority Form. You will not be able to access your joint account until this form is signed.

Help your kids to plan their savings with our cool calculators

Savings Calculator

Use our Savings Calculator to find out how much and how long you'll need to save to achieve your savings goal.

Savings Booster Calculator

Our Savings Booster Calculator will show you how a small change in your spending habit could save you a lot.

Related products and features both you and your kids will love

Everyday account

Children aged 12+ can request an ANZ Access Visa Debit carddisclaimerwhen they open an ANZ Access Advantage. No monthly fee for under 25s or if they meet our other eligibility criteria.disclaimer

 

ANZ Online Saver

With ANZ Online Saver your child can access their money via their linked ANZ everyday account.disclaimer Check out our current standard variable interest rate.disclaimer 

 

ANZ term deposits

Enjoy a known rate of return for your choice of term, so you know exactly what your investment will be worth. Learn more

 

Youth and money

Parents, young adults and children alike could benefit from these tips and guides on forming good money habits and managing a healthy relationship with money. Read now

Frequently asked questions

ANZ Plus is ANZ’s digital banking service available in the new ANZ Plus app.

It comes with an ANZ Plus Everyday transaction account and a multi-goal ANZ Plus Growth Saver account, and a new-look ANZ Plus Visa Debit card.

The ANZ Plus app has a range of features to provide more visibility and control of your money and spending.

You can only access ANZ Plus in the ANZ Plus app.

You can use the ANZ Plus app to view other eligible ANZ accounts, but to manage these accounts you will need to use other ANZ channels. Find out more here.

Other ANZ bank accounts can be accessed through the ANZ app or Internet Banking, ANZ branches and over the phone.

Find out more about ANZ Plus at www.anz.com/plus

If you're a new customer, you'll need to provide: one form of Primary ID or two Secondary IDs. Examples of each are listed below. To find out more and see the full list of acceptable forms of identification documents read Customer Identification Process (CIP) - Acceptable Identification Documents (PDF).

Examples of Primary ID

  • Australian photographic driver's licence or learner's permit
  • Australian Passport (current, or one that has expired within the past two years)
  • Foreign passport disclaimer
  • Australian or Foreign citizenship certificatedisclaimer
  • Australian state/territory government issued Proof of Age card
  • Government issued National Identification card

Examples of Secondary ID

  • Birth certificate (can be issued by an Australian State or Territory, or Foreign Government)disclaimer
  • Australian or Foreign citizenship certificatedisclaimer
  • Australian Medicare card
  • Australian School attendance letter issued by principal to person under 18, recording residential address and period of attendance (less than 3 months old)
  • Australian Taxation Office (ATO) assessment notice (less than 12 months old) with name and address

If you're a new customer, you'll need to provide any two of the following:

  • Australian Passport (current or one that has expired within the last 2 years)
  • Australian Visa in foreign passport
  • Australian driver’s licence
  • Australian Medicare card

For more information on methods to complete your identity check, please refer to our Identity Conditions page.

Some extra peace of mind for banking in Australia. Deposits of up to $250,000 with ANZ can be covered by the Australian Government’s Financial Claims Schemedisclaimer. This means that this money is guaranteed if anything happens to ANZ.

When using ANZ Internet Banking or the ANZ App, you’ll be reimbursed for any unauthorised transactions, provided that you have complied with the applicable product terms and conditions, and any applicable Electronic Banking Conditions of Use contained in your product terms and conditions.

Find out more about ANZ's internet banking security

For ANZ Online Saver accounts, ANZ Progress Saver accounts, ANZ Premium Cash Management Accounts and ANZ Pensioner Advantage accounts we will work out interest on the balance of your account at the end of each day. 

Learn more

Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the ANZ Saving & Transaction Products Terms and Conditions (PDF) and the Financial Services Guide (PDF) which are available at anz.com or by calling 13 13 14 before deciding whether to acquire, or continue to hold, the product. Fees, charges and eligibility criteria apply. Interest rates are variable and subject to change.

Customers aged under 18 need to show proof of age at an ANZ branch in order to receive their transaction fees waiver. Fees and charges apply. Transactions can disqualify you from earning bonus interest on the account in the relevant period. Please refer to ANZ Personal Banking Account Fees and Charges (PDF) for fees and charges that apply and information about bonus interest qualification and earning requirements.

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Bonus interest is subject to eligibility. With an ANZ Progress Saver you can qualify for bonus interest (in addition to the current variable base interest) if in a qualifying month the set minimum deposit (currently single deposit of $10) and no withdrawals, fees or charges occur. Deposits, withdrawals, fees and charges occur in a qualifying month if they have an effective date that is after the last business day of the previous month and on or before the last business day of the qualifying month. An effective date is a date we assign to the transaction in our system and may be different to the date when it occurred or when it was processed by our systems. If you qualify for bonus interest in a qualifying month, you can generally earn bonus interest from the last business day of the previous month up to (but excluding) the last business day of the qualifying month but this may differ depending on the effective date of a transaction. Refer to ANZ Saving & Transaction Products Terms and Conditions for further details including what’s included in your balance, how interest is calculated and how we work out if you earn and qualify for bonus interest. Interest rates are variable and subject to change.

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The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS (PDF) and here for Android (PDF) and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

ANZ App for Android is only available on Google Play™. ANZ App for iPhone is only available from the App Store.

Apple, Apple Pay, Apple Watch, Face ID, iPad, iPhone and Touch ID are trade marks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play and the Google Play logo are trade marks of Google Inc.

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One fee-free ANZ Transaction per month. Additional ANZ Transactions charged as: Electronic Transactions $1.00 each, Staff Assisted Transactions $2.50 each. ANZ Internet Banking transactions are free. ANZ Transactions, Electronic Transactions, Staff Assisted Transactions and Internet Banking Transactions are defined in the ANZ Personal Banking Account Fees and Charges (PDF) booklet. Any withdrawals in a particular month, including those that are free of charge, will disqualify you from bonus interest for that month.

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Debit interest may apply. Please refer to ANZ Personal Banking Account Fees and Charges (PDF).

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ANZ Online Saver account earns a standard variable rate of interest, which is subject to change.

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For children under 12, a parent or guardian will need to open the account in Trust for the child. Customers aged 12 to 17 who can sign a consistent satisfactory signature can open an account in their own name or as a joint account with a parent or guardian.

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Eligibility criteria apply to the issue of ANZ Access Visa Debit card. Fees may apply (for example, overseas transaction fees, overseas ATM transaction fees and non-ANZ operator fees). Please refer to the ANZ Personal Banking Account Fees and Charges (PDF) and ANZ Saving & Transaction Products Terms and Conditions (PDF) for details.

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On application for the waiver by an eligible customer, the monthly account service fee will be waived on one nominated ANZ Access Advantage account. For more information on Exemptions and Concessions please refer to ANZ Personal Banking Account Fees and Charges (PDF).

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ANZ Online Saver is only available to customers who open or who are the account holders of, or signatories to, eligible ANZ everyday banking accounts with ANZ Internet Banking or ANZ Phone Banking access. Eligible accounts include ANZ Access Advantage, ANZ Access Basic, ANZ Pensioner Advantage, ANZ Progress Saver, ANZ V2 PLUS and ANZ Premium Cash Management Account. Terms and conditions and fees and charges apply to the eligible account. Monthly fees may apply to the linked account.

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If your identification document is written in a language other than English, you must provide a translation into English by a translator who is accredited by the National Accreditation Authority for Translators and Interpreters.

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The guarantee applies to the total balance held in one or more ANZ deposit accounts by each legal entity, up to a maximum amount of A$250,000. For further information please refer to the Financial Claims Scheme.

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