Thank you for choosing a Young Saver Account
(in adult's name on behalf of a child under 18 yrs)

If you would like to start saving some money on behalf of a child that is under 18 years of age, Australian Mutual Bank is able to open a Young Saver Account for you.

You are able to open and operate a Young Saver Account to save on behalf of a child. The account will not be placed in the child's name, the adult will retain sole ownership.

A child at the age of 12 has the option to open a membership and account directly in their name. You may then choose to transfer any savings you have accumulated over to that account.

In order to open a Young Saver Account, you will have to be a member of Australian Mutual Bank. This is a simple and easy online process that you will be prompted to complete during the Young Saver Application. The parent or guardian will also be required to be identified electronically via the online ID Verification. This will be provided at the end of the membership application. To ensure your application is complete, please select the 'Submit' button when all mandatory fields have been entered.

The child’s original birth certificate will also need to be sighted or a certified copy provided to ensure the Young Saver Account is benefiting a child under 18 years of age. The child’s date of birth will be used for administration purposes only and the birth certificate will not be retained.

Some great features of the Young Saver Account include:

  • A high rate of interest to help boost savings
  • No account keeping fees
  • No minimum monthly deposits
  • Free cash deposits and transactions in branch
  • Access to learning topics and fun sheets to help promote financial literacy at a young age

Important information - Please read this before submitting the application

Before proceeding with this application, you should read Australian Mutual Bank’s Privacy Statement here. The policy sets out key information about why we're collecting your personal information, and how we use, disclose and secure it.

For individuals becoming a member of Australian Mutual Bank Ltd, we will enter your name in our register of members. Please review our list of Disclosure documents for more information.

Account will be opened in the adult's name only. The adult remains the account owner and the child does not have access or authority over the account. Visit our Web site for more information on this product.

For new and existing members, your communication preference for receiving notices and information will remain the same unless you advise.

This account is not available to members that already have an existing Young Saver or Kick Start Saver Account

To view detailed terms and conditions of the account, visit the Young Saver Account Information page.