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.

View fees

 

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.

Life Insurance

Life insurance arranged by TSB helps protect your family if the worst should happen.

 

 

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  • Don't forget to read this bit
    1. If you choose to use an ATM not owned by a bank in New Zealand, this may incur a service fee (in addition to any standard account transaction fee) for which TSB receives a commission.
    2. Child must provide proof of address and identification to meet the Anti Money Laundering (AML) requirements to have an account set up in their name.  
    3. Online and Mobile banking is only available when the account is opened in the child’s name and the child meets the Anti Money Laundering (AML) requirements.