Choice wants Dollarmites banned from Australian schools

Choice has again called for banks to be stopped from marketing saving programs, such as Dollarmites, to children in schools.

Choice has accused the Commonwealth Bank of paying "kickbacks" to schools in order to promote their products to kids. Source: Commonwealth Bank

Consumer group Choice wants bank savings programs for children, such as the Commonwealth's Dollarmites, to be banned from schools.

It's critical of the commissions the banks paid to schools for having children use the scheme and how it affects children.

"School banking programs such as the Commonwealth Bank's Dollarmites program give banks unfettered access to market their brand to schoolchildren," chief executive Alan Kirkland said.

The bank has promised to revamp the structure of the commissions it pays to schools, Fairfax Media reported.