Commonwealth Bank Youthsaver Questions & Answers
Is the Youthsaver accounts for my parents to use? They use it as their own, yet it’s under my name. They won’t let me use it, and they won’t let me deposit my money into it. Is the Youthsaver account for me or my parents?
I know your question is an old one but wanted to let you know, in case it’s still happening. I just opened youth saver accounts for my kids, and they have full control over their own accounts. My kids are 12 and 14 though so it could be an age thing if you’re younger and they possibly might not want you to spend all your money. BUT the youth saver account is for youths. Meaning it’s YOUR account and not for your parent's. I don’t know why they won’t let you put your money into it. I must admit that aspect has me a little worried.
My parents currently run my youthsavers account but i want to be allowed access to it on my phone as I turned the minimum age recently. How do i transfer it?
My mum was the signatory on my dollamite account 30 years ago. Each week i put my $2 into it and My dad put maintenance (child support) into it also. Because of that when i was about 13 i told my mum to keep it running as a back up for when i was older to purchase a home with. Its been 30 years, ive given her money each year, id say $200 month, sometimes more, sometimes less, but as far as im aware, the account was still running, actively getting my deposits. As i was in a very abusive marriage i kept the account hidden and trusted my mum would of course never do something so harmful as to keep my account from me. Through therapy (BPD, CPTSD, FIBROMYALGIA ETC) i have now finally, once and for all, cut ties with my mum because of a very dark violent and traumatic past that she put me through. When i last spoke with CBA about 8 years ago and they said my mum was a signatory on the account and id need her to sign the authorisation so i could access my money. At that point in time it was kind of out of sight out of mind. Im turning 41 next month and had saved up almost $350,000 when i last checked 8+ years ago. How do i now close my account as CBA keep saying i need her signature??!! Please help- anyone?! Even legal representation if you have experience in this field as MY money is the future for my 2 daughters. Thanking you kindly x
I opened up a youthsaver for my 6 week old baby, everything is good but I can't seem to deposit money from my St George account, it keeps saying unsuccessful contact helpdesk CH21
I don't have the answer, however the same issue. Have tried to deposit from ING, ANZ, NAB and WESTPAC into the Youth saver account and Smart Access account with CBA that I set up for my son. Every try to deposit is declined.
I just set up one for my son and having that problem from my NAB app. I tried straight from the NAB site and that went through but I never use the site only the app. Has any one managed to send from the app?
Did you ever find out why this was happening? I am having the same problem. I’ve spoken to CBA and they said there are not any blocks and can’t figure out why it won’t work.
I've had similar issues transferring from ANZ and UBank which both use OSKO fast payments. I have been informed by CBA it can take up to a week before a newly opened/activated account will be 'recognised' by OSKO and to use 'old' payment methods till them?
Can you make a transfer from a Youth Saver account? I have transferred some money into my kids Youth Saver accounts but It does not let me transfer out again If I wanted to - which the bank told me was absolutely possible.
Yes you can but you will lose the bonus interest I believe
I see. Thanks Liza. I might go back into the bank and ask them. Not wanting to take any money out now but I want to know for future If I need access to the money I can get it out again.
Can Parents/Legal guardians see the youthsaver’s account transaction history?
My granddaughter just turned 18 and her Youthsaver account vanished from my list of accounts. I understand I no longer have jurisdiction, so where have her account details gone!!!
Chase it up. My kids didn’t touch their accounts and no monies went in after they turned 14. When they turned 18, I went to the bank with them to help them get a bankcard. Apparently, their accounts had been archived (were considered a lost account), but they were there. Very easy to sort out once we gave them all the details. Don’t leave it.
Can I view transactions, deposit money, etc. online with a dollarmites account? I tried to register through the net bank app but it asks for a card number, which the account doesn't have.
Hi when I opened the Dollarmites account for my daughter I went to the branch and asked them to set up my internet banking and to link my daughter's account to my card. So its been link to my account and I can access it online as chequing account. If she need to buy something and use her own money then I can access her account through my card on ATM or use the card to pay for purchases via chequing account. Hope this helped.
Will my parents be know if I transfer money from my youth saver to my other account?
They will know you did if your accounts are link to their account,
Get an answer from our members
Extra Information
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.