We bought this for our son when he was 5.  The three separate compartments are great, I like that it's made of metal not plastic and I like that it can be rubber-banded together or separated.  It's very sturdy and has survived being dropped and knocked about. He loves portioning out his money into the different areas and seeing how it grows.  We aren't using the little bank book yet, because he still puts money in randomly sometimes, so we'd have to count it constantly.  It will be nice to use in a couple of years though.