ANZ Go Account Reviews: Everyday Banking for Youth
Did you know that 100% of ANZ Go Account holders under 21 can apply for an interest-free overdraft of up to $2,000? This shows ANZ’s big commitment to helping young people with their money. Let’s look into how ANZ is making banking better for kids and teens.
The ANZ Go Account is special for young customers. It has no monthly fees and lets you withdraw money for free at New Zealand ATMs. It’s made to be easy and cheap for kids and teens to use.
ANZ has accounts for those 13 and older, each meeting different needs. They focus on digital banking, so you can check your money anytime, anywhere. This makes managing your money easy and convenient.
Key Takeaways
- ANZ Go Account offers $0 monthly fees for electronic banking
- Interest-free overdraft available for students and under-21s
- 24/7 banking access through digital platforms
- Two-layer authentication for enhanced online security
- Visa Secure and Zero Liability policy for card protection
- Different account options for teens and young adults
- Eligibility criteria apply for all ANZ account options
Understanding the ANZ Go Account for Young Customers
The ANZ Go Account is perfect for teens and kids starting with banking. It’s designed for young people to begin their banking journey.
Eligibility and Age Requirements
Customers aged 13 and up can get the ANZ Go Account. Teens aged 12 and 13 need a parent or guardian at an ANZ branch. They must set up their account and get an ANZ Access Visa Debit card. This helps with banking for minors.
Key Features of the ANZ Go Account
The ANZ Go Account has great features for young banking:
- $0 monthly account fee
- No automated transaction fees
- Free ANZ Visa Debit card
- Access to mobile payments on compatible devices
- Potential monthly account service fee waivers on linked accounts
Benefits for Youth Banking
The ANZ Go Account offers many benefits for young users:
- Learn money management skills
- Earn interest on savings
- Gain financial independence under parental guidance
- Access to ANZ goMoney and ANZ Internet Banking
- Opportunity to link with eligible ANZ everyday banking accounts
The ANZ Go Account is a great way for young customers to start banking. It offers independence and parental guidance.
ANZ Go Account Reviews: Everyday Banking for Youth
The ANZ Go Account is made for young people to learn about money. It has features that help them manage their finances well. It’s a great choice for those starting their banking journey.
The ANZ App is a key feature. It lets users manage their accounts and learn about money. It teaches them how to budget and track their spending, which are important skills for the future.
The account also supports digital wallets like Apple Pay, Google Pay, and Samsung Pay. This makes it easy for young people to use modern banking tools.
ANZ offers some great benefits for young customers:
- No monthly account service fee for eligible customers
- Fee waiver on ANZ Access Advantage accounts with monthly deposits of $2,000 or more
- Introductory fixed bonus rate on ANZ Online Saver accounts for first-time customers
Customers aged 12-13 must visit an ANZ branch to get a debit card. This makes sure parents are involved in their child’s financial learning.
| Feature | Benefit |
|---|---|
| ANZ App | Easy account management and financial education |
| Digital Wallet Compatibility | Modern, convenient payment options |
| No Monthly Fee | Cost-effective banking for youth |
| Bonus Savings Rate | Encourages saving habits |
The ANZ Go Account is a complete package for young banking. It has useful features and teaches financial skills. It helps young Australians become financially literate.
Managing Money with ANZ Go: Tools and Resources
ANZ Go has tools for young customers to manage their money well. It’s great for kids’ accounts and student banking. It teaches financial education along with youth banking.
Mobile Banking and Digital Wallets
The ANZ Go account has a mobile app for iOS and Android. Young users can check balances, send money, and pay bills. It also supports Apple Pay, Google Pay, and Samsung Pay for tech-savvy youth.
Financial Literacy Resources
ANZ Go focuses on teaching youth about money. It offers:
- Interactive money management tutorials
- Budgeting tools for young savers
- Quizzes to test financial knowledge
- Savings goal trackers
These tools help young people develop good money habits.
Parental Controls
Parents can keep an eye on their child’s money with ANZ Go. It has:
- Real-time transaction alerts
- Spending limits setup
- Joint account access
- Bill payment oversight
These features help parents guide their children’s spending while teaching them to be independent.
ANZ Go combines modern banking with educational resources. It’s a great choice for youth banking. It helps young Australians learn important money skills in a safe, guided way.
Comparing ANZ Go to Other Youth Banking Options
The ANZ Go Account is a top choice for youth banking. Let’s see how it compares to other options for kids’ bank accounts.
Interest rates on kids’ bank accounts vary a lot. The Co-operative Bank Youth Account has a high rate of 5.30% p.a. for balances up to $4,000. Heartland Bank and TSB offer good rates too, at 4.00% p.a. and 3.95% p.a. respectively.
Westpac’s Youth Account has a base rate of 1.95% p.a. It also has a bonus rate of 3.74% p.a. for its Bonus Saver account. This helps young people save more.
| Bank | Interest Rate | Debit Card |
|---|---|---|
| Co-operative Bank | 5.30% p.a. | Yes |
| Heartland Bank | 4.00% p.a. | No |
| TSB | 3.95% p.a. | Yes (7+ years) |
| Westpac | 1.95% + 3.74% bonus | Yes |
When picking a youth banking account, think about more than just interest rates. Most banks give EFTPOS cards to kids aged 7 with a parent’s okay. The level of parental control varies, with some banks giving kids more freedom.
Look for accounts with no monthly fees and online banking. Also, check if they have tools to teach financial skills. These features are great for helping young people learn about money.
Conclusion: Is the ANZ Go Account Right for Your Child?
The ANZ Go Account is a great choice for kids learning about money. It has no monthly fees and lets you bank on your phone. It also works with Apple Pay and Google Pay, making it perfect for tech-loving teens.
When looking at other options, the ANZ Go Account shines in teaching kids about money. It doesn’t earn interest like some accounts, but it focuses on teaching kids about money. This is super helpful for kids learning to manage their money.
Choosing the right account for your child depends on their needs. If your child likes going to the bank, ANZ has many branches. But if they prefer banking online, the ANZ Go Account’s app and digital wallet features are great. Think about what your child needs and what you want for their financial future.
In summary, the ANZ Go Account is a good choice for kids starting their financial journey. It has the tools and resources they need. Whether it’s the best choice for your child depends on your family’s banking needs and preferences.
Source Links
- ANZ everyday youth
- Join ANZ | ANZ
- Everyday bank accounts | Transactional Accounts
- A guide to student bank accounts in Australia
- The best banks in Australia for inter
- Money & Parenting: Your Kids’ First Bank Account
- Best Bank Accounts – October 2024
- Best Bank Accounts for Kids
- Compare 15+ Youth & Kids Bank & Savings Account Providers | Canstar
- The ultimate guide to bank and savings accounts in New Zealand
- Best NZD Account for Expats: Review of top options in New Zealand
- ANZ Progress Saver for Kids
