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.

After opening your child’s savings account, teach them how to stay safe online as most transactions today are digital. Make the most of options available, like Spriggy, to educate kids about the basics while you still have complete control.

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.

  • 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

  • Bonus interest with a monthly deposit no withdrawals.

NAB iSaver

  • No minimum deposits and flexibility to make withdrawals.

  • Linked NAB transaction account.

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.

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.

10 money saving tips to help you reach your goals

Read our simple tips you help you control your spending and save more money.

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.

How to use your first debit card

Learn how to manage your money safely and responsibly 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

The internet is full of information, but it can also be dangerous. Learn how to keep your family safe online.

Banking safely online

Keep you and your family safe online with our helpful tips.

Keep your mobile devices and apps secure

Your mobile device is the portal to almost every detail about you. So it's important to keep it secure.

Six simple ways to protect your passwords

Good password management, like using strong passwords, will help you stay cyber-safe.

Easy ways to protect your computer from malware

Don’t be a victim of cyber criminals. Learn how to protect your computer from malware.

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