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Hume’s Clancy Koala Junior Saver Account is a way of teaching kids how to save. There are no fees with the account.
Age restriction
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13 years and under |
| Minimum opening balance |
$1
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| Minimum deposit or withdrawal |
$1 |
| Statement |
No
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| Passbook |
Yes
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| Interest |
Calculated daily. Paid monthly
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Bonus Interest
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Calculated daily. Paid monthly provided in that month $10 or more was deposited and no withdrawals were made. |
| BPAY |
No
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| Cashcard |
No
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Visa Debit Card
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No
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| Cheque book |
No
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| Direct debits |
No
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| Telephone banking (Hume Connect) |
Yes (enquiries only)
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Internet banking (iBank)
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Yes
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| Periodical payments |
Yes |
| Account opening and operation |
The account must be opened in the child’s name and proof of identity of the child provided at that time.The child’s parent, guardian or carer must be a signatory on the account at all times and may authorise the child to be a co-signatory at his/her discretion. At no time may a child be sole signatory on the account. |
| Assessment |
We reserve the right to:
- exercise discretion in assessing whether a child possesses sufficient maturity to open and operate an account in their own right;
- seek parent or guardian or carer assistance if we consider it necessary to do so; and
- close the account should it be used for any other purpose such as the business or private purposes of a parent, guardian or carer.
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| Account conversion |
When the account holder reaches the age of 14 years, the account must be converted to an account deemed appropriate by Hume. We will write to the account holder within 12 months after he/she turns fourteen and offer a list of appropriate accounts to which the account may be converted. Should we not receive a response within 30 days, we reserve the right to close the account and transfer the balance to a Passbook Savings or other account we deem appropriate at the time.The signatories on the account at the time of transfer will remain applicable to the new account unless election otherwise. |
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Things you must read
You should read our Interest Rate Sheet, Product Features and Fees and Charges booklets which together form the Product Disclosure Statement for this account (download below), consider the features, terms and conditions that apply to the account and decide if the product is right for you before deciding whether to open an account.
You can also obtain a copy by calling in at any branch.
You should also read these documents:
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