School Management

High Yield Investment Account

All DEECD grants and other payments are transferred directly into the High Yield Investment Account. Details are as follows:

  • Schools are able to transfer funds from the High Yield Investment Account at any time into the official account. Funds may then be transferred to any other account. Schools can also transfer funds from the Official account to the HYIA. To transfer funds, see: High Yield Investment Account Transfers (https://pnpnet.qvalent.com/hyiavic)
  • Payments for goods and services must be made from the official account.
  • All other revenue received by the school is to be paid into the official account.
  • The Westpac Bank will pay interest gained from the High Yield Investment Account directly into that account.
  • Schools will not be liable for account-keeping fees or transaction charges related to the High Yield Investment Account.

 The following documents provide details on procedures and the operation of High Yield Investment Accounts.

Forms for High Yield Investment Accounts

To establish HYIA please contact Westpac HYIA enquiry line 9608 3975

or the General enquiry line 9608 3883

The following forms are to be used for services associated with High Yield Investment Accounts.


All completed forms should be sent to VIC SCHOOLS TEAM, Level 10, 360 Collins Street, Melbourne VIC 3000

School Name Change

When a change to the school name is approved by the Minister of Education the school must notify the Westpac Banking Institution.  The notification should be on school letterhead and signed by the Principal. A copy of the Statutory Authority signed by the Minister, and evidence of ABN registration in the new school name, should be attached and sent to the address above.

Contact Information

For further information on High Yield Investment Accounts, please contact Lois Sullivan, telephone 9637 3392 or e-mail: sullivan.lois.d@edumail.vic.gov.au.

Westpac HYIA enquiry line 9608 3975