A Headstart savings account makes a great first bank account. Money in the account earns interest and there are no base and transaction fees, to ensure that the balance isn't eroded.

The account, which is compatible with phone banking and FastNet Classic, can come with an EFTPOS card and statements are issued every month. You can easily arrange an automatic payment into the account, such as a regular pocket money payment.

Headstart accounts opened before 22 September 2007 are operated differently from that below.

Headstart for kids under 13

• If your child is under 13 years of age, you (the parent or guardian) will need to open the Headstart account on his or her behalf.
• You can make withdrawals, transfer funds, make deposits, request account balances and ask for information about transactions.* Your child can't make withdrawals or transfer funds, but is able to request account balances and information on transactions, order statements and make deposits.
• If you want the child to operate the account on their own, you may be required to grant a Guarantee of Indemnity to ASB.

*You cannot access the account through FastPhone or by using a FastCash card.

Headstart for kids 13 and over

• Children 13 years and over are able to open and operate a Headstart account on their own.
• If a child has an existing Headstart account which is being managed by a parent, they can take over operation of the account with parental permission. Where a child operates the account, no other person (including the parent) will have any ability to operate or request and information on the account without the child's consent.
• Children 13 - 15 years of age can get a Visa Debit Card, but they need to get a form signed by a parent or guardian first. Click here to find out more.

Those 18 and over

From 18 years of age, children may become eligible to operate an ASB Streamline account. We contact Headstart account holders after their 18th birthday to see what they'd like to do.

Those moving on to Tertiary study or an apprenticeship

Children enrolled in Tertiary study or starting an apprenticeship may be eligible for an ASB Tertiary account.