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Fundraising bank account for children?

My 13yr old daughter is currently fundraising for a trip through the school next year. She has 拢100 to start with and has 6 months left before the balance needs to be paid. Is it worth looking for a bank account that will give a good return or is it not worth it for the short time it will be open

It depends how much you think she will raise in total. Some current accounts only have an interest rate of 0.1% while some savings accounts are more like 6.1%. Over half a year that would make 拢3 interest for every 拢100 pounds she raises early on (although, obviously money raised near the end she won't get much interest).

If it were me personally raising the money I wouldn't bother as I'd rather donate an extra 拢3 than spend the time opening an account. However, a 13 year old's time is less valueable and it would teach her a good lesson in how interest works and how to shop around banks for a good deal. In that case I would say go for it.

i look at it this way if all she has to do is sign her name and get just one pound in return that is one pound that she would not have had if she left it is the shoe box --- where do you draw the line --- not worth my time unless i can make 1000 pounds -- it a free oppunitary to make something why not go it!!!
Do not waste too much time on this as the difference in the end will be less than 拢1.

But in order to teach your girl how one should shop around and as a matter of principle, you should give your custom to the companies offering the best rates and service. In the end we as consumers get what we deserve.
I'd go with a 3 to 6 month CD with the best return you can find. A little bit is better than nothing, yes? Here's where you can find more ideas for school fundraisers

http://www.fundraiserhelp.com/school-fun...

Good Luck
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