My child's Baby Bonus Cash Gift is currently paid into my nominated bank account. If I proceed to change Child Development Account (CDA) trustee or bank, what happens to my Baby Bonus Cash Gift?
A new Child Savings Account (CSA) will be automatically opened by the CDA bank under the nominated CDA trustee.
Any remaining Baby Bonus Cash Gift will be paid into the new CSA opened for the new CDA trustee.
Related questions
I prefer to receive the Baby Bonus Cash Gift in my nominated bank account, instead of the Child Savings Account (CSA). Can I do so?
How can I change my bank account to receive cash gift(s)?
What can I use the Baby Bonus cash gift for?
When do I need to change the Child Savings Account (CSA) joint account holder and Child Development Account (CDA) trustee?
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