Launched in conjunction with the Aldridge Santander Agency, pupils over the age of seven will be able to deposit as little as 20p into their new accounts.
The Ryders Hayes Community Bank will be run by year 5 and 6 pupils, all of whom were recruited through a series of applications and interviews.
Bank manager Sam Pearson and assistant manager Alice Templeton met with Aldridge Santander manager Nick Walker before half term, along with newly appointed cashiers to receive their training in preparation for the launch.
Bank staff were also given embroidered blazers, which were donated by Clive Mark, the school’s uniform outfitters.
School staff and an employee of the Aldridge Santander Agency will be on hand each week to support the pupils.
“It is hoped that saving at school will promote life-long habits of good money management and an appreciation of the value of money, as children are encouraged to save up for special events, holidays, much-wanted toys and games, or simply to save and watch their money grow,” said headteacher Jo Speller.