Military Kids Account
An everyday transaction account designed to be used in tandem with our Online Saver. It’s the perfect way for your child to learn responsible spending habits in a safe way.
Visa card
from 11 years of age
Parental signatories
available
$0
monthly account fees
Overview
Features of our Military Kids Account are:
- No monthly account keeping fee
- No transaction fees
- No minimum balance
- Free Visa Debit card from 11 years of age
- Track spending through Internet and Mobile Banking
- Account visibility and flexibility for parents/guardians, with the added protection of spend limits
- Automatically converts to our Military Rewards Account when the account holder turns 18
Rates & Fees
Here’s a summary of the rates and fees for the Military Kids Account:
- Interest rate: 0.01% p.a.
Interest is calculated daily and paid monthly.
Additional fees may be payable. For more information, please see our Fees and Charges Schedule.
Questions
Here are our top questions about the Military Kids Account. Have a different question? Call us on 1300 13 23 28 to speak to a consultant.
When can my child have a Visa Debit card?
When your child turns 11 years of age, they will be able to order a Visa Debit card in their name.
How is the interest calculated?
Interest is calculated daily and is paid into the account monthly.
Is a signatory needed on accounts for children under the age of 11?
If a child is under 11 years of age, a parent/guardian must open the account on the child’s behalf and be an authorised signatory for the account to operate. Children are not permitted to personally transact on an account if under 11 years of age. For more information on responsibilities and privileges of an authorised signatory refer to clause 1.7 Third Party authorised signatories in our Terms and Conditions.
What happens when my child turns 18?
When your child turns 18, the account will automatically convert to a Military Rewards Account. We will contact you when this occurs.
Use the arrows to scroll through the many Australian Military Bank Everyday Accounts options RESET
-
1% cash back on Visa payWave purchases under $100 (capped at $25 per month)***$0Yes0.01% p.a.DailyMonthly
-
No monthly account keeping fees**
No minimum deposit required$0Yes0.01% p.a.Minimum monthly balanceAnnually 31 May -
No monthly account keeping fees
No minimum deposit required$0Yes1.05% p.a.DailyMonthly -
Stepped interest rates$0Yes0.80% p.a.DailyMonthly
-
Unlimited card holders
Easy access with Visa Debit and BPAY®$0Yes0.01% p.a.Minimum monthly balanceAnnually 31 May -
Visa Card available from 11 years of age; no monthly account keeping fees**$0Yes0.01% p.a.DailyMonthly
The small print
**Transaction fees may apply
***Deposit a minimum of $2,000 per month (excluding transfers from other Australian Military Bank accounts) to become eligible for the 1% cash back offer. The cash back offer applies on contactless Visa payWave purchases under $100. Consider the Terms and Conditions and Fees and Charges Schedule available on this website.
^^Read our Terms and Conditions for Digital Wallets, before making a decision and consider if it is right for you. Available for eligible cards.
Rates are current as at 13 December 2024 and are subject to change at Australian Military Bank’s discretion.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The advice and information on this site doesn’t take into account your personal objectives, financial situation or needs, which you should consider before acting on any of our recommendations.
To decide if this product is right for you, please carefully review our Terms and Conditions brochure and Fees and Charges Schedule.
The Target Market Determinations (TMD) for our products are available here
The small print
**Transaction fees may apply
***Deposit a minimum of $2,000 per month (excluding transfers from other Australian Military Bank accounts) to become eligible for the 1% cash back offer. The cash back offer applies on contactless Visa payWave purchases under $100. Consider the Terms and Conditions and Fees and Charges Schedule available on this website.
^^Read our Terms and Conditions for Digital Wallets, before making a decision and consider if it is right for you. Available for eligible cards.
Rates are current as at 13 December 2024 and are subject to change at Australian Military Bank’s discretion.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The advice and information on this site doesn’t take into account your personal objectives, financial situation or needs, which you should consider before acting on any of our recommendations.
To decide if this product is right for you, please carefully review our Terms and Conditions brochure and Fees and Charges Schedule.
The Target Market Determinations (TMD) for our products are available here