The cash was donated in little over two hours after children living in Albury's Holmwood Cross decided to assist the needy.

"We watched the news and heard about all the fires and and we knew people needed clothes and toiletries and money, so we decided to do a cake stall," Eva Ault-Connell, 11, said.

Having coined the idea on Thursday, Eva and siblings Elka, 9, and Jensen, 7, joined with neighbour Harry Chapman on the corner of Sackville and Elm streets on Sunday morning.

Three trestle tables were laden with more than 100 different types of cakes and slices after a Facebook callout.

Harry's mother Bridget Mahony contributed cupcakes, licorice slice, biscuits and honey joys.

"We just said 'donations welcome' and people we're just dropping $50 notes in left, right and centre," Ms Mahony said.

Eva added: "One lady gave us $150 when we were putting up signs."

The Ault-Connells' father Kieran said he expected at a maximum that $1000 would be amassed.

Elka said: "I thought we were going to be out there for a long time."

Instead around noon, after just two hours, all the cakes were gone and donations had ballooned.

Mr Ault-Connell said the children "loved doing it, they loved the spirit of everyone there".

"Eva particularly got involved in the commerce side of it and was very good at serving and the other children got involved in putting up signs," he said.

On Monday the money was split into $1800 worth of chemist goods and an array of gift vouchers for petrol and food which went to the Merriwa Industries distribution hub in Wodonga.