Making some extra money for my boys

sahra

Hi,
My 2 teenage boys have £6000 each in savings with Natwest, which earns them about £20 interest every 3 months.
I would like to make them a bit of extra money by opening accounts via Top cashback or Quidco. Can anyone give advice on which kind of savings/ companies to go with, I am prepared to put some effort in if it makes them a few hundred pounds.
Thanks

Archi_Bald

Which of the Quidco/TCB offers did you have in mind?

How old are your boys?

Have you worked through this: http://www.moneysavingexpert.com/savings/child-savings-tax-free?

Have you googled "Youth accounts"?

sahra

I wasn't too fussed on the actual accounts. Was thinking more about the cashback I get from the sites for setting up an account and paying in for 3 months, such as the One family junior Isa, then moving to another.
Just wanted feedback and a bit of advice on how best to go about it.

My boys are 15 and 17 this month.
Thanks

Archi_Bald

The ISAs that pay cashback are pretty dreadful value for money, and come with a raft of complex terms and conditions, such as a tie-in for 10 years etc.

I don't think there are any deals that can produce short-term cash for anyone under 18, at least not any sensible ones.

A longer term one that might be appropriate for your 17 year old is a Help to Buy ISA, and the same for the younger one as soon as he gets to 16.

sahra

Thank you, I'll have a look at the help to buy Isa's