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Wahroonga Public School

Wahroonga Public School

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Student Banking


The Commonwealth Bank School Banking Program has been running since 1931.  It is designed to teach money management skills to children from a primary school age.  Dollarmite tokens are rewarded to children each time they make a deposit through school banking.  These tokens are then redeemed for fun rewards issued by the Commonwealth Bank.

There are different promotions initiated by the Commonwealth Bank, which encourages students to continue making weekly deposits through the School Banking Program.  A number of parent volunteers meet each week to collect and process the student's deposits.

School Banking provides a beneficial way of fundraising for the school, as the bank rewards the school with $5.00 each time a new account is opened.  A commission of 5% of each deposit (a maximum of $10) is also given to the school on a quarterly basis.



A parent or guardian can visit their local branch with identification, which will be also verified with your child's identification before a new account is opened.  A paper application form can also be obtained from the School Banking Convenor or for existing Commonwealth Banking customers, online via NetBank.

Any existing Youthsaver account can be used to participate in the School Banking Program.  If a child has misplaced their Dollarmites deposit book or yellow wallet, they can obtain a replacement from your local branch or the School Banking Convenor can be contacted.

First time school bankers will receive a Student ID, and this unique number needs to be written on the deposit slip each week.  It is important that the child's name, account details and amount to be deposited is also filled in.  Each class teacher will collect the yellow banking wallets each Tuesday morning and place them into a grey banking pouch.  A class monitor will then deliver the grey banking pouch to the staff room for the parent volunteers to process.

Bank books will be stamped and dated, then returned to the class on the same day ready for banking the following week.

School Banking is on Tuesdays.

Students, please remember to give your yellow banking wallets to your teachers each Tuesday morning.

Your money will be processed and deposited each week and your banking wallet returned to you by Wednesday of the same week.

If you have any queries please email wpsschoolbanking@gmail.com

Banking Flyer (pdf 226 KB)