Banks should seize on the chance to provide services for children aged between six and 13, who currently have $653 million in personal savings, Roy Morgan research showed.

The research showed around 20 per cent of bank customers has children in this age bracket.

There is obviously a major role to be played by parents to encourage their children to save but banks also need to play a role by providing suitable products and incentive, Roy Morgan industry communications director Norman Morris said..

Success in the longer term will depend on a number of factors and experiences over many years but childrens banking should at least provide a good foundation for an ongoing relationship.

Heritage bank had the largest proportion (25.8 per cent) of customers with children in that age bracket while the Bank of Queensland had the lowest at 18.7 per cent.

Out of the big four banks ANZ had the highest at 22.5 per cent, while the National Australia Bank came last with 20.2 per cent. The Commonwealth Bank of Australia had 20.3 per cent.

The Young Australians Survey of 2,800 children showed children save $285 on average, but there is disparity between the balance distribution, with 21.2 per cent having less than $50, while 10.2 per cent have $1000 or more.

Over a quarter of the children surveyed (26 per cent) either have no savings or cannot say if they do.

Morris added that while childrens banking mainly pushes or education rather than savings levels, but with around one fifth having saved less than $50, more children need to be urged to save.

The current trend is not meeting this objective, Morris said.