Youth

Before the age of seven, accounts for a child must be opened by a parent or legal guardian who will be the operator of the account. This means that although your child is the account owner they can’t make transactions or give instructions to the bank on their own. As the operator you will have authority to instruct TSB and transact on the account on behalf of your child. 

While an operator arrangement is in place, the following will apply: 

• Accounts are set up under the operation of the parent or legal guardian (we will need evidence of the relationship).
• An EFTPOS card may be issued to the account operator but is not issued to the child.
• The operator can access the account using EFTPOS or ATMs, and can make deposits into the account. The account can't be accessed through online banking or the TSB mobile app while there is an operator on the account. 
   

After your child turns seven, the operator of the account can contact us and ask for the operator arrangement to be removed, which means your child (account owner) will be able to complete transactions and give instructions to the bank independently. Once removed, the operator won’t have any authority to access or transact on the account. If you wish to leave the operator arrangement in place after the child turns 7 (or older), the account settings for Children 0 - 6 years will apply. 

After removing the operator from the account, the following will apply: 

• Your child can access their account using EFTPOS, ATMs¹, online banking or the TSB mobile app.
• An EFTPOS card can be issued to your child. Any EFTPOS card that was previously issued to the operator will be cancelled.
• Once your child is aged 15 or over they can get a Debit Mastercard, giving them access to their own money to shop online, tap to pay with Apple Pay² or Google Pay³, and withdraw cash.