Saving for school fees

It’s that time of year again… New school uniforms, new teachers and for some – new schools entirely! The school holidays are ending, and our children are returning to school. But how do your clients pay for ongoing school fees?

Did you know that you can set up payments for school fees from a DCM account, whilst making the most of the cash held on deposit for this purpose?

Having cash readily available is important when planning for school fees

Holding cash with a current account provider may seem like the obvious choice, however, rates can be pitifully low. Some high street banks offer just 0.10% AER* on a balance of £200,000, earning just £200 per annum.

When compared with cash held in a DCM account, they could be achieving a return of over 10 times more than the current account provider.

Based on a balance of £200,000 DCM could help achieve £2,060 per annum after fees, with funds on an easy access basis.

*HSBC Premier Savings correct on 29 August 2018
DCM return based on Latest Rates quotes on DCM website updated 28 August 2018