School Banking

Help your children manage their money!  The school canteen runs the School Bank in conjunction with the Commonwealth Bank.

Banking hours are on Fridays

School Banking  at South Lake Primary School

The School Banking program includes an exciting Rewards Program designed to encourage children to get into the habit of making regular saving. Every time your child makes a deposit at school they receive a silver coloured Dollarmites token. The first token will be received upon the first deposit at school. Once your child has individually saved 10 tokens they can redeem them for an exclusive Dollarmites reward item. Students will have lots of fun saving their tokens for these cool rewards items.

School Banking is also a great fundraiser for our school. The school receives $5 when children make their first deposit at school and a commission on every deposit made through the School Banking program.

Taking part in School Banking is easy. If your child has an existing Commonwealth Bank Youthsaver account they can start banking straight away.

They just need to bring their deposit in every Friday using their Dollarmites deposit wallet.

If your child has misplaced their Dollarmites deposit book or deposit wallet, they can request a new one from either the local branch or contact the School Banking Co-ordinator. 

If your child does not have a Youthsaver account, you can open one at any Commonwealth Bank branch, no forms to fill in! Alternatively, if you are an existing Commonwealth Bank customer with access to NetBank you can apply online.

Another option is to download a paper-based application form from Please note this option may take up to 2 weeks before a Dollarmites wallet and deposit book is sent to your home address to start banking at school.

School Banking accounts can now be opened at any Commonwealth Bank branch. You no longer need to complete application forms and return them to school. Just go into any branch and ask to open a Youthsaver account for School Banking.

Remember to take in identification for you and your child (such as drivers license and birth certificate), you will receive a Dollarmites wallet and deposit book on the spot and be able to start banking on the next business day – it is that easy!

If you are a Commonwealth Bank customer with NetBank you have the option to open the account online as well! When your child makes their first deposit they will get their first token and our school will also receive $5 commission.

Thank you for supporting our school and teaching your child good savings skills.