My parents a school bank account which was used to pay for our high school uniforms. As most parents know uniforms are expensive. I calculated at the uniform of a child starting primary school is approximately $600.00 including compulsory shoes and special sports shoes. that is calculated on 2 summer shirts, 2 winter ones, 2 pairs shorts, 2 pairs trousers, 2 jumpers, 1 school bag, 1 sports uniform. It doesn’t include library or other bags like that or art smock.

thats one way to get people to bank with you!

What a good idea. Having had this idea myself, I have to admit finding $20 every week for so many years is not always achievable

A clever marketing strategy by PR and a good incentive for saving.

I wish my child was born in 2017! What a FANTASTIC initiative! It may help parents who might not have ever created an account for their child! And an excellent way to save! I am going to set up an account for my son and basically follow the same principle and make up for the two years I have already lost. It will be a huge help to him when he’s older I’m sure.

What a wonderful idea and makes sense

Very good on them! They will surely get new customers this way. And teach the importance of saving for our kids’ future.

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  • • mom93821 replied
    • 05 Jan 2017 , 6:18 am

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  Teaching saving at a young age is the way to go – sets up a lifelong pattern of good saving habits.

Good on Westpac,great idea!

bah! I always miss these bonuses!

I think this is a great incentive. Great on the bank on coming up with this. I wonder how many people will take up this offer. If I have a baby this year, I definitely will take up the offer.