Saving in Kit
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      2. Saving in Kit

      Creating and using Stacks

      Stacks are a place for your kid to bucket their money, set and achieve their goals. Money in Stacks cannot be spent on their card, unless it’s transferred back to the Kit card. Every child starts with one Stack called ‘My first savings goal’, and they can create up to 10.

      Does Kit pay interest?

      Creating a new Stack

      1. Open the Kit app.
      2. Navigate to your child’s profile. You can do this by entering your Boss profile then tapping on your child’s name, or selecting the child’s profile on the ‘Who’s there?’ screen.
      3. Tap on the ‘Stack’ tab.
      4. Tap ‘New Stack’.
      5. Edit the name, goal amount and due date by tapping into the fields.
      6. Customise the colour and add stickers by tapping the smiley face.
      7. Tap ‘Done’ to save.

      How do I transfer to a Stack?

      Parents and kids can transfer from the Kit Card to a Stack using the ‘Transfer’ button found in the Stack section and other parts of the app.

      You can also move money between Stacks, if your child has more than one Stack.

      Can you lock Stacks so a child cannot transfer out of it?

      Automatic transfers

      Your child can automatically transfer all or part of their pocket money into different Stacks or linked CommBank Youthsaver accounts with the PayDay Split feature.

      Linking Youthsaver

      Parents can link one or more Youthsaver accounts to Kit so kids can see their savings earn interest in the Stack section. With your permission, kids can transfer money into their linked Youthsaver account/s.

      Find out more about CommBank Youthsaver and Kit, or get started by linking a Youthsaver account.

       

       

      CBA New Digital Businesses Pty Ltd (ABN 38 633 072 830), trading as Hey Kit, has been appointed as authorised representative (001296799) of Commonwealth Bank of Australia (ABN 48 123 123 124 AFSL 234945) who is the issuer of the CommBank Youthsaver account.

      Any advice provided is general only and does not take into account your objectives, financial situation or needs. Please consider the T&Cs, available here, and whether a Youthsaver account is appropriate for you.

      The target market for CommBank Youthsaver will be found within the product’s Target Market Determination, available here.

      Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.