So the SMH have another article, a year later. Mistakes still? You bet! Seems they don't take much notice of their own content! They refer to the CommBank having the only competitive account with the new BankWest product for kids money. As before, the St George Dragon Direct still blows the CommBank out of the water, and gives the BankWest new product a run because there are no restrictions like min or max balances, deposits only and so on. Also take note of Rabo bank entering the marketplace with some very competitive offerings.

Updates

February 2008: www.bankwest.com.au/kids/ *still* has interest at 10%, but swept every 12 months. Must deposit from $25 to $250 per month, otherwise 0.01% !! Dragon Direct bonus rate now 7.25% until 30th June 2008 for new accounts opened by 31st March, 6.75% for existing accounts. As of January 7, 2008 : www.raboplus.com.au/savings/ has interest at 6.9%, with a minimum age of 15 years. www.bankwest.com.au/kids/ still has interest at 10%, but swept every 12 months. Must deposit from $25 to $250 per month. dragondirect.com.au/ has a bonus rate of 7.05% until 14th April 2008 for new accounts, 6.5% for existing accounts. No age limit!