Kiwibank says its charity Facebook frame "smashed" its target, with over 50,000 Kiwis joining in on the fundraising effort.
The bank partnered with Mike King's Gumboot Up New Zealand, and announced they would be donating $1 for every New Zealander who attached their 'I AM HOPE' frame to their Facebook profile picture.
'Gumboot up New Zealand' aims to raise funds to help provide children in New Zealand with access to free counselling.
Kiwibank brand manager Kim Waghorn said it was heartening to see Kiwis get behind the cause.
"The fact it has taken off shows how many people care. Gestures count and this simple campaign has inspired people to act," she said.
Mr King, who was crowned the 2019 Kiwibank New Zealander of the Year, said the frames not only helped to raise funds, but to spread word about the cause, which also has a Givealittle page.
"The Give-a-Little donations are coming in so fast I don't have time to count them! We have had nearly one thousand donations in the past 24 hours from one dollar to one hundred dollars."
Kiwibank said it had met their maximum donation with the Facebook frames, but would be "empowering our staff and all New Zealanders to join the gumboot-wearing movement".
Mr King said all the money donated through the Givealittle page would be going straight to the cause.
"We have set Gumboot Friday up to make sure that every cent goes to what really counts - in this case, the health professionals who provide counselling services for our young people.
"Our goal to give parents and kids peace of mind and the ability to access support, when they need it, is looking totally achievable."