What's the difference between a student bank account and savings account?

A bank account is designed for everyday spending and comes with a debit card. It's also where you can receive regular deposits like your pay, and pay regular bills. A savings account is designed for saving, so it doesn't come with a debit card and instead offers interest on your money when you continue to grow your balance. It's a good idea to have both accounts.

How can I set up a kids savings account?

Depending on the age of your child, they can either open a kids savings account in their own name or you may need to open the account in your name on their behalf.

Are the big 4 banks the best?

The big 4 banks (Westpac, CommBank, ANZ and NAB) are the biggest banks in Australia, but this doesn't necessarily mean they're the best. In fact, a lot of the smaller banks offer accounts with less fees and better interest rates. The Big 4 do have the most bank branches and ATMs. It depends what features you're looking for in an account.

Can I open a bank account at age 17?

Yes, some banks will allow you to open an account in your name at age 17. In fact, some will allow children as young as 12 or 14 to open an account in their name.