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Is it possible to close a Child Savings Account (CSA) before the year my child turns 13?

Updated by MSF

While it is possible to close the CSA, we encourage parents to keep it open. The CSA is the default account for your child to receive Government payments, including:

(i) Baby Bonus Cash Gift; and

(ii) Education awards or financial assistance.


Please keep the CSA open to avoid delays in receiving payments. No minimum balance, fees or charges will be imposed to keep the account opened.

Topics:

Baby Bonus (BB)BB Services (from 1 Jul 2024) - Child Savings Account (CSA)

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