School Bank runs in conjunction with a local bank and allows the School Council, under the supervision of the School’s Office Manager, to run their very own branch in school.
School Bank is a fantastic opportunity, not only for those working in the branch, but also for every child in our school. It teaches children the value of money and encourages regular saving from an early age. The school bank is a great way of encouraging young people to save and teaching them how to be responsible with money. It encourages children to develop a good understanding of the world of finance and to help them to become aware of money matters.
The School Bank is open to all pupils who wish to begin a savings account and develop the routine of regularly saving and tracking their money.
The School Bank is open on Tuesday afternoons from 3.00pm when children are invited to come to the Bank.
Upon making their first deposit children are issued with a personal passbook which they must bring to the bank each time they wish to make a deposit (the minimum deposit being 50p).
The maximum amount in the School Bank Account for each child is £500.
When they wish to make a withdrawal, seven days notice must be given to the office and money must be collected by a parent or carer.
Withdrawals will not be issued to children at the Tuesday or Thursday afternoon Bank.
At the end of each academic year, the three most regular savers receive a certificate and prize in recognition of their commitment to saving, and this is presented at a whole school assembly at the end of the summer term.
Children from Reception up to Year 6 can join the school bank.
Parents are required to sign a permission slip and return to school (Appendix a)
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