
Whether you’re saving for your child’s future, or you’d like to teach your child about money, we have account options to suit different goals.
At a glance
Children 0 – 7 years
Before the age of seven, accounts must be opened by a parent or guardian, who becomes the operator of the account. So while the child is the account holder and will receive six monthly statements, as the operator you'll conduct all transactions on the account on behalf of the child (including Eftpos card access if required).
- A versatile all-in-one savings and transactional account with no monthly management fee.
- Interest earned monthly and paid quarterly.
- Accounts are set up under the operation of the parent / legal guardian.
- Statements are issued in the name of the child.
- No Eftpos Card issued to the child.
- An Eftpos Card may be issued to the parent / legal guardian.
- Access to your money through Eftpos, ATMs.1
Children 7-17 years
From the age of seven, you can choose to remove yourself as the operator of the account if you wish. Once this is done, an Eftpos card, Online and Mobile Banking can be introduced to the child for quick and easy access to funds.
- A versatile all-in-one savings and transactional account with no monthly management fee.
- Interest earned monthly and paid quarterly.
- Access to your money through Eftpos, ATMs.1
- Accounts can be set up under a parent or guardian or in the child’s name.2
- Statements are issued in the name of the child.
- One Eftpos card issued per account to either the child or the guardian.
- Access to Online and Mobile Banking.3
Over 18
Once your child turns 18, you’ll be removed as the operator of the account (if you still are one) and we’ll talk to the child about switching to an adult account.
Saving for the future
If you want to set money aside for your child to use in the future, you can set up an account ‘in trust of’ that child. You’ll have full access to the account, which is in your name until you wish to transfer the funds to the child. Talk to us about the savings account that will suit you best.
You may also be interested in
KiwiSaver
Set your children up for the future and help them save for their retirement, or first home, with the Fisher Funds KiwiSaver Scheme.