School Banking

Students at OLOR are given the opportunity to participate in the Banking program supported by the Commonwealth Bank.  There are a range of incentives to encourage the students to save their money.

Tuesday is Banking Day

Benefits for our children

A key part of the school banking program is the exciting rewards pProgram designed to encourage children to get into the habit of regular saving.

Benefits to our school

Student Banking is a great passive fundraiser for our school!

The Commonwealth Bank gives our school:

  • an Annual Contribution each year based on the number of students who have made at least one school banking desposit in the prior year
  • a Regular Savers Contribution of $5 for every 10 school banking deposits processed per student

Getting Started

It’s easy!

If the child already has a Commonwealth Bank Youthsaver Account

You can start straight away!

Bring in the Dollarmites deposit wallet with the deposit and completed deposit book on banking day. Deposit books are collected by class teachers.

If the deposit book or wallet has been misplaced new ones can be obtained from any Commonwealth Bank branch or the School Banking Co-ordinator.

If the child does not already have a Commonwealth Bank Youthsaver Account

You will need to open a “Youthsaver” account. This can be done in any of the following ways:

  • At any Commonwealth Bank branch (no forms to fill in!). Just ask to open a Youthsaver account for School Banking. Remember to take Idenitification for yourself and your child (such as a drivers licence and birth certificate).
  • Online with NetBank – if you are an existing Commonwealth bank customer with access to NetBank. Please note that this may take up to 2 weeks before a Dollarmites wallet and deposit book is sent to your home address.
  • Download a Youthsaver Application Form Please note that this may take up to 2 weeks before a Dollarmites wallet and deposit book is sent to your home address.

Making Deposits

Deposit wallets are collected by the classroom teachers first thing on Tuesday morning and returned to children on Wednesday afternoon.

Important Notes!

  • A “Student Number” will be allocated to each child when they make their first deposit at school. This number will be written on the inside cover of their deposit book.
  • The deposit slip and stub must be completed in full each week by the parent or child before bringing the book to school on Student Banking Day.
  • Foreign currency is not accepted.
  • Only one deposit per child can be processed each Student Banking Day.
School Banking