Link your child’s bank account today

With POSB Smart Buddy, you may opt to automatically transfer your child’s Allowance and Stamp Savings into his/her bank account.

All you need to do is link your child’s account and ensure that you’ve enabled auto-transfer under your child’s profile on Smart Buddy App.

Link my child’s account

Alternatively, you may apply for a My Account for your child. Once the account is opened, it’ll be automatically linked to POSB Smart Buddy.

Apply a child’s account

 

About My Account for Kids

My Account is the first deposit account that you can customise to meet your kid’s growing needs.

S$1 gift deposit1 to get them started

No minimum balance

No coin deposit fee2

Auto-transfer of unutilised allowance3

FREE POPULAR Membership4

Note:

  1. Gift Deposit for anyone below 21 years old.
  2. Waiver is limited to 1st 1,000 pieces per calendar month at the coin deposit machine.
  3. The new account will be automatically linked as a Smart Buddy crediting account.
  4. For child age below 16 years old at the point of account opening.

Apply now

*My Account (Personal) is only available for existing Smart Buddy customers. The account will automatically be linked as a Smart Buddy crediting account once opened.

 

About Allowance Savings

  • Allowance savings is the unspent allowance or the remaining allowance/unspent amount.
  • Assuming the daily allowance set is S$3.00 and your child has spent S$2.00, then the allowance savings for the day is S$1.00.
  • Your child’s monthly allowance savings will be deducted from your savings account (i.e. the account linked to your child’s Smart Buddy) and transferred to his/her Savings Account by 15th of the following month.
  • Do ensure you’ve enabled “Auto transfer to child's Savings Account” on your child’s profile to enjoy this feature.
 

About Stamp Savings

Your child may tap his/her Smart Buddy at the school bookshop to get Smiley Stamps for S$0.50 each. The stamps value will be deducted from the linked bank account (i.e. parent’s). The stamp(s) are updated as ‘Stamp Savings’ on Smart Buddy Mobile App.

Simply complete 1 Smiley Savings Card (i.e. 20 stamps) per month to receive S$1 Bonus Dollar. Total Stamp Value and S$1 Bonus Dollar* will be credited to your child’s account by 15th of the subsequent month.

*Note:

  1. The total Stamp Value will be credited into the linked bank account (i.e. parent’s) if there is no linked child’s account.
  2. S$1 Bonus Dollar will only be rewarded if there’s at least 1 completed Smiley Savings Card and an active child’s account is linked with Smart Buddy.