Any advice in this information is general and has been prepared without taking account of your particular objectives, financial situation or needs.  Before you act on any advice you should consider whether it is appropriate for you. ^Fees and charges for IMB services, government and third party fees may apply. ~Competition open to NSW, ACT & VIC members only. One entry is automatically earned for every $10 deposited into an IMB Zoo Account. A Member is entitled to be entered into the competition more than once in any month and for the duration of the competition. Unsuccessful entries from a $100 monthly prize draw do not carry forward to the subsequent month’s draw. The prize is $100 cash deposited into the winning Member’s Zoo Account by IMB within 30 days of the prize draw. Promotion period 01/01/16 – 31/12/16 with 12 monthly prize draws. Authorised under NSW Permit No/ LTPM/19/04750 and ACT Permit No. TP 15/07026. For full details please refer to Competition Full Terms and Conditions and General Terms and Conditions on IMB Promotions and Competitions. Interest is calculated daily and is paid at the end of each calendar month. Please consider the PDS available from IMB before making a decision about this product. IMB Ltd trading as IMB Bank ABN 92 087 651 974 AFSL/Australian Credit Licence 237 391

 

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A fun way to teach kids about saving

IMB School Banking helps schools teach life-long lessons about money and saving.

 

 

 

 

 


IMB School Banking is a fun and easy way for kids to learn about money and the benefits of regular saving. With IMB School Banking, students can make cash deposits into an IMB Zoo Account each school banking day and can watch their savings grow via internet or mobile banking (with help from a parent or carer) and a quarterly statement.  The IMB School Banking program has been designed to make banking at school easy for parents, students and schools.
Why School Banking? 
 IMB School Banking
 How it Works
 Want to get involved?
 FAQs

Why School Banking?


With the pace of life on the up and up and our society becoming more and more cash-less, it can be hard for kids to grasp the concept of money, where it comes from and how it’s used. School Banking can help address this in a number of ways:

  • Cash deposits provide the opportunity for children to build familiarity with Australian currency and to practice counting money.
  • Saving regularly offers the chance for the next generation to build a life-long habit of saving money in a savings account.
  • Participation in the program opens the doors for discussions about money; where we get it, how we can use it and why it’s important to save it?


IMB School Banking Program


With IMB School Banking, students save in an IMB Zoo Account, an account designed just for kids 12 and under. Students open the account in their own name while a parent or carer with Authority to Operate (ATO) retains control over the account. When a student opens an IMB Zoo Account for School Banking they receive:

 

 

a $5 Head Start to their savings deposited into their account

 

a Zoo Welcome Kit including a stationery kit and money box

 

a school banking cash wallet and deposit book

 

access to the Reward Stamps program where students are rewarded with a free gift for every 10 deposits


Schools benefit too with $5 for the school P&C for each account opened.
 

The IMB Zoo Account is a fun and interactive account offering:
 

BONUS interest by saving as little as $10 a month with no withdrawals

No transaction or account keeping fees^

Welcome Kit – including FREE IMB Zoo stationery kit and money box

$100 monthly prize draw~


How it works


When a school signs up to participate in the IMB School Banking Program, they nominate a day to be school banking day. On this day students need to:

  • Complete the deposit slip and place it together with the money to be banked in the School Banking Cash Wallet.
  • Take the wallet to school and drop it in a secure deposit box before 9:30am. (if a secure collection point is not already available, IMB can provide one).
  • Wallets are collected by a secure cash collection agency and delivered to the local IMB branch for processing.
  • Wallets are delivered back to school the following day.
  • Each school banker receives a free gift for every 10 deposits.

All aspects of the program have been designed to require minimal resource from participating schools. There is no requirement for cash counting, transaction data entry or cash delivery. We look after that.


Want to get your school involved in IMB School Banking?


Your local IMB team is available to meet with representatives from your school, the P&C and parents to discuss the IMB School Banking Program. If your school decides to participate in the program, IMB has a range of materials to help communicate details of the program to parents and students including newsletter ads, posters and flyers.
 

To launch school banking at your school, IMB can attend a school assembly for a fun introduction to the school banking program. At this time, your local IMB team can run account opening sessions for parents at school, alternatively accounts may be opened anytime at your local IMB.

FAQs
  Can my school participate in IMB School Banking?
Most schools will be eligible to participate in IMB School Banking. To find out if your school is eligible, call into your local IMB or email schoolbanking@imb.com.au
  How do I set up IMB School Banking at my school?
Setting up IMB School Banking is easy. Your local IMB team can introduce the program to representatives from your school, P&C and to parents. IMB can provide a range of materials to promote school banking to your school community and can attend an assembly to officially launch the program. IMB can arrange a secure deposit box if one isn’t already available at school and we will also arrange for cash collection on your chosen school banking day.
  What resource is required from the school?

There is no requirement for counting cash, data entry or cash delivery as part of the IMB School Banking Program. We do require your school to:

  • Ensure deposits may be left in a secure location. If a secure deposit box or chute isn’t already available at your school, IMB can provide one.
  • On school banking day, count the number of wallets deposited in the secure box and place them in a tamper proof satchel ready for collection by a secure cash collection agency.
  How long does it take to set up school banking?
The IMB School Banking Program can generally be established at your school in 3-4 weeks. IMB will work with your school to ensure we meet your requirements as best we can.
  What is the secure deposit box provided by IMB?
If your school doesn’t already have a secure deposit box or chute, IMB can provide one. The box is constructed of sheet metal and measures 800mm high x 300mm wide x 400 mm deep. The box can be fixed to the floor.


Any advice in this information is general and has been prepared without taking account of your particular objectives, financial situation or needs.  Before you act on any advice you should consider whether it is appropriate for you. ^Fees and charges for IMB services, government and third party fees may apply. ~Competition open to NSW, ACT & VIC members only. One entry is automatically earned for every $10 deposited into an IMB Zoo Account. A Member is entitled to be entered into the competition more than once in any month and for the duration of the competition. Unsuccessful entries from a $100 monthly prize draw do not carry forward to the subsequent month’s draw. The prize is $100 cash deposited into the winning Member’s Zoo Account by IMB within 30 days of the prize draw. Promotion period 01/01/16 – 31/12/16 with 12 monthly prize draws. Authorised under NSW Permit No/ LTPM/19/04750 and ACT Permit No. TP 15/07026. For full details please refer to Competition Full Terms and Conditions and General Terms and Conditions on IMB Promotions and Competitions. Interest is calculated daily and is paid at the end of each calendar month. Please consider the PDS available from IMB before making a decision about this product. IMB Ltd trading as IMB Bank ABN 92 087 651 974 AFSL/Australian Credit Licence 237 391