What is School Banking?
The Commonwealth Bank School Banking program provides a fun, interactive and engaging way for children to learn about money and develop good saving habits.
Run nationally since 1931 through participating primary schools, School Banking encourages children to regularly deposit money into their Youthsaver account and earn silver Dollarmites tokens, which can then be redeemed for an exciting reward through the Rewards Program.
When is School Banking?
Throughout the School Term.
Please check the school newsletter for the date it will start and conclude each term.
When you open a Youthsaver account, your child will receive a Dollarmites deposit wallet to use for School Banking, usually within 5-7 working days.
How School Banking works
- Bring your deposit to school in your Dollarmites deposit wallet on your weekly ‘School Banking Day’ to collect a silver Dollarmites token. Dollarmites Wallets are to be given to the classroom teacher.
- Once you collect 10 tokens (maximum one token per week) you can choose a reward by placing the redemption slip or card and 10 tokens in your Dollarmites deposit wallet and bring in on School Banking Day
- Children can track their savings progress in the CommBank Youth app.