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What happens if the Child Development Account (CDA) trustee is changed?


Updated by MSF

If the CDA trustee is changed, the existing Child Savings Account (CSA) will be converted to a normal joint savings account under the bank's standard terms. Any balance will remain in the account. A new CSA will be automatically opened with the new CDA Trustee, any remaining Baby Bonus Cash Gift will be paid into the new CSA.


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