Childcare vouchers.

Post by **bigal383** » 11 Jan 2018, 20:25

Can anyone give me infornation please and how they work will soon have 80quid a week to pay on fees so how do childcare vouchers work if i decide on these
Thankyou

Spedley · Post by **Spedley** » 11 Jan 2018, 21:31

You sign up via the mybundle website. They take up to £55 per week out of your wages before tax and put it in your voucher account. You can then spend the vouchers with a registered childminder/nursey. The vouchers are usually digital and you just pay your childminder from the mybundle site, a bit like you'd do a bank transfer.

It's not always 100% reliable, about 1 in 5 vouchers doesn't go into my account on the day it should (the Friday you get paid), and have to wait until Monday.

You don't really notice any savings but they are there on paper.

jd9442 · Post by **jd9442** » 11 Jan 2018, 21:37

Spedley wrote:You sign up via the mybundle website. They take up to £55 per week out of your wages before tax and put it in your voucher account. You can then spend the vouchers with a registered childminder/nursey. The vouchers are usually digital and you just pay your childminder from the mybundle site, a bit like you'd do a bank transfer.

It's not always 100% reliable, about 1 in 5 vouchers doesn't go into my account on the day it should (the Friday you get paid), and have to wait until Monday.

You don't really notice any savings but they are there on paper.

Are you actually saving any money?
I don’t follow sorry

Post by **cloherty1976** » 12 Jan 2018, 14:30

jd9442 wrote:
Spedley wrote:You sign up via the mybundle website. They take up to £55 per week out of your wages before tax and put it in your voucher account. You can then spend the vouchers with a registered childminder/nursey. The vouchers are usually digital and you just pay your childminder from the mybundle site, a bit like you'd do a bank transfer.

It's not always 100% reliable, about 1 in 5 vouchers doesn't go into my account on the day it should (the Friday you get paid), and have to wait until Monday.

You don't really notice any savings but they are there on paper.
Are you actually saving any money?
I don’t follow sorry

You don't pay tax or national insurance. 32% saving.

Spedley · Post by **Spedley** » 12 Jan 2018, 14:35

... or 47% extra depending on how you look at it! :)

£55 taken before tax would have been £37.40 in your wages.

£55 is just over 47% more than £37.40 ... or ... £37.40 is 32% less than £55

Effectively £915 per year on top of your normal wage.