Top Child Trust Funds Article Discussion Area

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  • kate1855
    kate1855 Posts: 2 Newbie
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    I'm starting to think I'm the only person silly enough to trust their child to be sensible when they receive all this money at 18! ;)

    I have a CTF for my 2 year old son and we are hoping to have another baby next year so I want to invest the same for them (obviously they won't receive money from the govt but I can top that up).

    Are CTF's still available or would I have to open a normal savings account? Is there an equivalent account if you can no longer open a CTF?

    Thanks in advance...
  • GingerFurball_2
    GingerFurball_2 Posts: 990 Forumite
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    kate1855 wrote: »
    I'm starting to think I'm the only person silly enough to trust their child to be sensible when they receive all this money at 18! ;)

    I have a CTF for my 2 year old son and we are hoping to have another baby next year so I want to invest the same for them (obviously they won't receive money from the govt but I can top that up).

    Are CTF's still available or would I have to open a normal savings account? Is there an equivalent account if you can no longer open a CTF?

    Thanks in advance...

    No, CTFs were stopped as of 1st January 2011 (I think.)

    The government is launching Child ISAs this year which will replace the CTF - however you won't get a voucher to start the account off from the government.
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  • barryheffron
    barryheffron Posts: 415 Forumite
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    edited 12 May 2011 at 1:43PM
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    My daughter was born 13/01/11 so as per the post above, it seems she misses out.
    Luckily for my son, he was born in 08 so got the full £250.

    Is there any more info on that Child ISA?
    When will it start?

    Also, is it worth waiting or should i just open a savings account for her?
  • rickey45
    rickey45 Posts: 10 Forumite
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    I hope that you are all having a wonderful day.
    My family and I are hopefully migrating to Victoria in October.
    We have two young children both of whom have child trust funds,( some money from government.) Does anyone know what we can do with them, as they cannot be touched until the child is eighteen-but we don't plan to come back...lol


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  • barryheffron
    barryheffron Posts: 415 Forumite
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    I see that the top current childrens savings rate is 6% with Halifax, whereas the top Child trust fund is 3%.
    Why should I go with a CTF instead of savings?
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    barryheffron wrote: »
    I see that the top current childrens savings rate is 6% with Halifax, whereas the top Child trust fund is 3%.
    Why should I go with a CTF instead of savings?
    Are you sure you're comparing like with like???

    Might one be a regular saver account and the other a more normal account, which for immediate access is probably as much as is on offer at the moment.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Io07
    Io07 Posts: 363 Forumite
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    spaceboy wrote: »
    Our daughter's is with Yorkshire and today we got a letter that the introductory bonus of 0.7% is coming to an end, which puts it down to 2.30%. Is it worth switching?

    exactly in the same boat; any ideas anyone??

    thinking of switching to a stakeholder this time, with cash rates being so low.
  • Reaper
    Reaper Posts: 7,283 Forumite
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    Io07 wrote: »
    exactly in the same boat; any ideas anyone??

    thinking of switching to a stakeholder this time, with cash rates being so low.
    I went the investment CTF route. If you are thinking of switching to it then you can see my opinion of the best options here.
    http://forums.moneysavingexpert.com/showpost.php?p=34505779&postcount=5
  • j.a.c1
    j.a.c1 Posts: 4 Newbie
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    We've still got our £250 child trust fund voucher from last july (so much going on with the baby we forgot about it :()
    So what options are still available for us? and of course, which would be best?

    thanks in advance to anyone who replies

    John
  • j.a.c1
    j.a.c1 Posts: 4 Newbie
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    Can i pay it into a "Children's Regular Saver" account from the halifax then keep topping it up every month?
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