In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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P&N Way Cool Saver

P&N Bank Way Cool Saver
Maximum variable rate
3.05% p.a.
Base interest rate
Minimum deposit


Set your kids on the path to success by teaching them how to save

P&N Bank has structured a savings account especially for the youngest Australians, up to the age of 15. With competitive interest earned, minimal fees and flexibility for both parent and child, this savings account can be an invaluable step on the path to good spending habits.


  • No monthly account keeping fee
  • Fee-free transactions
  • SMS account access for kids
  • Parental permission required for internet, app and phone banking


  • Just for kids aged between 0 -15 years
  • No interest earned if the account balance is over $5,000

In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question


Key details

Product Name P&N Bank Way Cool Saver
Maximum Variable Rate 3.05% p.a.
Standard Variable Rate 3.05% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0

Key features

Age requirements

The Way Cool Saver is available from the age of zero right up until a child turns 15.

Membership required

P&N is a mutual bank and required that all account holders are also members. Members can apply on behalf of their child under the age of 12, but kids aged 12 to 15 will have to pay the $10 shareholder fee and become a member before an account can be issued in their name.

Launch savings calculator

How to apply

You can apply for the Way Cool Saver over the phone or in person at a local branch, and can request an appointment by visiting the P&N website.


In addition to those already mentioned above, there are some eligibility requirements that you will have to meet before you can submit an application:

  • Minimum age. Anyone up to the age of 15 can have a Way Cool Saver Account in their name. Parents or guardians are required to assist their children in applying for the account.
  • Residency requirements. In order to be eligible for this high interest savings account you must have an Australian residential and mailing address.

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November 29, 2022

How do i pay with my way cool saver account


Alison Banney Finder

December 02, 2022

Hi Ava,

You can use it to pay just like any other savings account.



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