Depending on your age you might remember when the Commonwealth Bank or other banks financial institutes came into your classroom, and set you up with a little bank account for your pocket money. The idea, at least as far as we might be led to believe is to instil good financial habits and responsibilities in school children, but you wouldn’t be blamed for thinking these banks might have some ulterior motives.

The ACT legislative assembly unanimously passed a motion to get rid of these programmes – they’ll be banned from July of this year.

To discuss the ban the Monday Daily show was joined by Member of the assembly, the seat of Brindabella in the ACT-  Jonathon Davis.