What is school banking?
School banking is a fun, interactive and engaging way for young Australians to learn about money and develop good savings habits. Children who deposit money into their Youthsaver account through school banking earn dollarmites tokens, which they can save up and redeem for exciting rewards.
What do Dollarmite tokens do?
Students who participate are rewarded with Dollarmites tokens that they can redeem for exciting rewards when they deposit regularly into their savings account. Each deposit receives one silver token. To receive a reward students must collect 10 silver tokens.
Do Dollarmite accounts still exist?
Dollarmites a cash cow for CommBank
Commonwealth Bank announced on Sunday it would be ending the 90-year-old program nationally from the end of 2021. ... In a message on its Facebook page on Sunday announcing the end of the program, CommBank described the end of Dollarmites as a 'sad day'.
What is CommBank student?
Here are some of the features & benefits of Student Options: There are $0 monthly account fees. Track your everyday spending with Spend Tracker in the CommBank app. Use Cardless Cash3 in the CommBank app to get money out of any CommBank ATM, fee-free.