Teaching kids about money

Introducing the concept of money to children can be both educational and fun, setting the stage for a lifetime of financial literacy. By getting your kids saving early while involving them in their earning and spending, you can help them develop positive money habits and set them up for success.

A great first step is including your child in the process of opening a kids’ savings account and explaining how money can grow over time through saving and earning interest. This hands-on experience will demystify the world of finance and empower them to take charge of their own financial future.

Bank accounts to get your kids started

Not sure where to start when opening a transaction or savings account? These products may suit their needs.

Transaction account with no monthly account fee

Get your kids started with a basic everyday account for spending.

  • No monthly account fee.

  • No minimum deposits.

  • No ATM fees at over 4,000 ATMs across Australia.View Disclaimer 1

  • Link to a NAB Debit card (available between the age of 8 and 13 years).
Find out more about a NAB Classic Banking account

Your choice of two savings accounts

Help your kids meet their savings goals with our NAB Reward Saver or NAB iSaver.

NAB Reward Saver

NAB iSaver

  • No minimum deposits and flexibility to make withdrawals.

  • Linked NAB transaction account.View Disclaimer 3
Find out more about our savings accounts

  • If your child is 14 years or older, they can set up an account online. Those who are 13 years and below can apply in a branch but will need to be accompanied by an adult.View Disclaimer 4

To open an account, your child will need to provide two of the following forms of ID:

  • Australian passport

  • Foreign passport

  • Australian driver’s licence

  • Medicare card

  • Birth certificate

Find more information about how to open a bank account for your child.

Financial literacy

Our guides can help you teach kids how to bank and save.

Financial literacy for kids

Our tips on teaching kids how to manage money early in life.

Money saving tips to reach your goals

Learn how to make your saving plans succeed with our simple money saving tips.

How to open a bank account for a child

Learn how to help your child open a bank account, including which documents are required and if you need to visit a branch.

Debit cards for teens

Learn how to get started managing your money with a debit card.

Set and track your savings goals online

Learn how to use the NAB app to set up a savings goal.

How to keep your family safe online

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Banking safely online

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