Bank accounts for kids and teens

Kickstart your future by learning to save early and regularly with a bank account that will help you grow your money.

Want a $30 kickstart? Get both a savings and a transaction account

Already have one of these accounts?

Great news you're halfway there. Just open the bank account type you don't have yet, either the Incentive Saver savings account or the Complete Freedom transaction account.

Then, within 30 days of opening the new account:

Deposit at least $100 into your Incentive Saver account
We'll then deposit $30 into your Complete Freedom account within 50 days of the new account opening*.

I’ve never had the account I am opening now before:

Don't have either account?

Then open both the Incentive Saver savings account and the Complete Freedom transaction account online today if you're 14 or older. If you're under 14, you'll need to go into a branch with a parent or guardian.

Then, within 30 days of opening both accounts:

Deposit at least $100 into your Incentive Saver account
We'll then deposit $30 into your Complete Freedom account within 50 days of the new accounts opening*.

I’ve never had an Incentive Saver or Complete Freedom account before:

Open both accounts Open both accounts

What type of bank account could I get?

Savings account

It’s the account you choose when you want to grow your money rather than spending it, as you’ll earn interest on your balance.

Transaction

You’ll use this account to withdraw cash or buy things in-store or online, and if you're 14 or older, it comes with a debit card².

Bundle both

Get both accounts so you don’t need to choose, linking them so you can easily manage your money with Mobile Banking.

How do I open a bank account?

Have your ID handy

Types of ID you can use

14 or over: Open your account(s) online using one of the Open buttons

Under 14: You’ll need to head into your nearest St.George branch with your parent or guardian

Start using your account(s), with easy access to your banking on your mobile phone

What you’ll get with your bank account

Savings only

Incentive Saver

$0 Account-keeping fee
Earn up to 5.15% p.a. when you grow your account by at least $0.01 a month¹ and your account balance remains below $250,000.
Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.

Open now Open now

Transaction only

Complete Freedom

$0 Account-keeping fee
Get a Visa Debit card² (aged 14 and over)
Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.

Open now Open now

Bundle both

Complete Freedom + Incentive Saver

$0 Account-keeping fee on both accounts
Get a Visa Debit card² (aged 14 and over)
Earn up to 5.15% p.a. when you grow your incentive saver account by at least $0.01 a month¹ and your account balance remains below $250,000.
Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.

Open now Open now

FAQs

Can a child have a debit card?

You can get a VISA Debit Card² with a St.George Complete Freedom account if you’re 14 or over.

Can a parent/guardian open a bank account for a child?

Yes. To do this, you’ll need to head into a St.George branch with your child with both your and your child’s ID.

What is the youngest age you can get a bank account?

You can have a bank account as soon as you have the required ID documents.

(Types of ID you can use (PDF 845KB))

How much does it cost to open a bank account for a child?

It is free to open a St.George Complete Freedom transaction account and Incentive Saver savings accounts for your child.

There are also no account-keeping fees on these accounts.

Read the Terms and conditions including fees for Transaction, Savings and Investment Accounts (PDF 1MB), including charges that may apply, before making a decision and consider if it is right for you.

Can I get the $30 kickstart if I already have both accounts?

No. You need to open at least one new account – either an Incentive Saver account or a Complete Freedom account – having never opened one before, so that you have one of each account.

If you have never opened either account, you’re eligible by opening both new accounts.

How many times can I get the $30?

This promotion is limited to one $30 payment amount per customer, regardless of the number of accounts held/opened.

When will the $30 be paid?

The money will be paid into your Complete Freedom account within 50 days of the new account(s) being opened and the $100 being deposited into the Incentive Saver account. $100 must be deposited within 30 days of opening your bank account(s)

Important information

Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.

Terms and conditions including fees for Transaction, Savings and Investment Accounts (PDF 1MB)

*Youth Promotion Terms and Conditions

To receive $30 you must meet the eligibility criteria and satisfy the requirements in these Terms and Conditions. This promotion is available from 05/12/2024 to 28/02/2025.
Available to new or existing St.George Bank customers under 18 years of age (Customer), who have not previously held an Incentive Saver and/or Complete Freedom account.
This promotion excludes Customers who have opened and closed both of these accounts, as well as joint accounts.
During the promotion, the Customer must open the required account(s) so that the customer holds both an Incentive Saver and Complete Freedom account in the Customer’s name (account(s) must be active and ready to use), and must deposit a cumulative minimum of $100 into one Incentive Saver account within 30 days of opening the account(s).
Deposit must be Customer initiated and does not include interest payments into your account.
The $30 promotion amount will be paid into the Customer’s Complete Freedom account within 50 calendar days of meeting these Terms and Conditions. Both the Incentive Saver and Complete Freedom account must remain open during the period for the $30 promotion amount to be paid.
Each eligible youth Customer is only entitled to one $30 promotion amount payment when the Customer has met all the requirements set out in these Terms and Conditions.
In the event multiple eligible accounts are open for the same Customer, the $30 promotion amount will be paid to the Customer’s Complete Freedom account that was opened first and active.
We reserve the right to withdraw, amend or extend this offer at any time.
Transaction, Savings and Investment Accounts Terms and Conditions (PDF 1MB) apply to St.George Incentive Saver and Complete Freedom accounts. Please read these terms and conditions carefully to determine whether these products are right for your needs and requirements.

St.George Bank accounts interest rates.

1. The 5.15% p.a. rate is a combination of a variable base rate of 1.85% p.a., and a variable bonus rate of 3.30% p.a. Earn the variable bonus rate as long as you grow your account balance by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21) and your account balance does not fall below $0.

2. To be eligible for a Visa Debit Card, you must have an Australian residential address and be 14 years old or over.