Thursday, August 14, 2008

BANKING AT SCHOOL

Start a lifetime of savings education

The Commonwealth Bank is committed to educating young Australians. Student Banking teaches children how to develop good saving habits at an early age and assists schools to raise extra funds for school initiatives.

For your children
Student Banking encourages primary school children to save their money and watch it grow. It's easy - children can open up a Youthsaver account and make regular deposits while they're at school.

Processing the deposits is quick and easy. A volunteer from the school collects the money and enters each deposit into user-friendly, internet-based Windows software which is provided by the Bank. This is balanced and electronically transmitted to the Bank.

The volunteer then makes a single deposit at the nearest Commonwealth Bank branch or Australia Post outlet.

Club newsletters
As a regular user of their account, your child will receive exclusive club newsletters and benefits from us.
Dollarmites Club for under 10s
Rule for 10 to 13s
for 14 to 17s
For their school
It's not just the students who benefit - participating schools will also receive:
$5 for each new Youthsaver account opened
5% commission for each deposit (up to a maximum of $10 per individual deposit)
Minimum commission payment of $25 per quarter (provided at least one deposit is processed in the quarter)

School visits
Commonwealth Bank branch staff visit nearby primary schools to talk to children about the basics of money and teach them the importance of regular saving. They also discuss Student Banking with principals and volunteer coordinators and how they can implement and improve the program at their school.

To register your school, simply call the Student Banking Helpdesk on 1800 674 496, from 9am to 4pm (Sydney time), Monday to Friday. You will be mailed the relevant forms and information to get you started. The Helpdesk can also answer any questions you may have about Student Banking.

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