Banking that grows with your child
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No minimum balance to get started.
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No transaction fees if aged under 19 years old.
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Open multiple accounts and personalise them with names and images.
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Set savings goals and track progress with Goal Tracker.
Find the right account for your child or teen
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Free Up – Everyday account
Free Up is designed for everyday. It gives children and teens a place to spend, save and build confidence with money as they become more independent.
The account can be opened from any age, with more features becoming available as your child gets older.
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Online Call – Short term saving
If your child or teen is saving for a short-term goal, Online Call offers a simple way to put money aside while still being able to access it when needed. It's a good option for savings that aren't locked away.
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Notice Saver – Staying committed to a goal
Notice Saver can help your child or teen to keep savings set aside for goals that might take a little longer to reach. Because notice is needed before money can be withdrawn, it can make it easier to stay on track and avoid dipping into savings too soon.
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Term Deposit – Saving for the future
A Term Deposit can be a good option for savings that are being put aside for the future. With the money locked in for a set period anywhere from 30 days to five years, it's a simple way to help your child work towards bigger goals over time.
What children & teens can do at different ages
As your child gets older, they'll be able to do more with their account. Here's a quick guide to what's available at each stage.
Under 7 year olds |
A parent or guardian will need to open and operate the account/s on the child's behalf, as well as make any cash withdrawals. |
7+ year olds |
If your child has a Free Up account, they can withdraw money over the counter – a parent or guardian will need to co–sign the withdrawal. They'll be able to access read-only internet banking and the mobile app so they can see their account balance. |
10+ year olds |
If your child has a Free Up account, they can get an ATM/EFTPOS card with their parents' or guardians' permission. |
13+ year olds |
Can do the following without parental or guardian permission:
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Opening an account for a child or teen
Whether you're opening an account for your child or opening your first account as a teen, here's what you'll need to do.
Aged 12 & under
Opening an account if your child is 12 & under
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1Tahi
You can contact us to book an appointment at your nearest Kiwibank. Since your child's account will be linked to you, we'll need to set up a profile for you as well (unless you already have one).
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2Rua
During your visit, we'll need to verify you and your child's identity and that you're the child's parent or legal guardian.
Please bring your ID (identification) as well as proof of relationship, such as an original birth certificate, passport with the same surname, court order or letter from Oranga Tamariki – Ministry for Children to your appointment.
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3Toru
Once we've set up your child's account, you’ll be able to see their account in internet banking or the mobile app. The types of things they can access will depend on how old they are.
Aged 13 - 15
Opening an account if you're 13 – 15 years old
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1Tahi
You can start to open an account by joining online.
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2Rua
Before you're able to use your new account, we'll need to verify your identity. To do this, you can drop in to your nearest Kiwibank or contact us to book an appointment. You'll need to bring your ID (identification) with you.
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3Toru
If you only have a New Zealand birth certificate, we can accept that as your ID.
Building financial literacy with Banqer
We've partnered with Banqer since 2016 to provide real-world financial simulations to nearly half a million primary and secondary school students, to prepare them for their financial futures.
More ways to build money confidence
Depositor protection
Accounts for kids and teens are covered under the Depositor Compensation Scheme.
Standard terms and conditions
Interest rates are subject to change.
Retail products aren't available to financial institutions or wholesale customers.
We stopped offering our First Saver savings account. If you have this account you can find information about its rates and fees on our products no longer offered page.