Use your child - best child savings account

SDLT_Geek

There is an example of someone who had put a substantial sum into a child's account and seemed to assume he could withdraw it and treat it as his own to buy a property! https://forums.moneysavingexpert.com/discussion/6231601/property-funds-in-child-accounts/p1 

NormW

I am struggling to find a good rate account for an under 7 with a lump sum (£1k+) where the parents don't bank with Santander and don't want it locked away till 18 (Junior ISA).

Is Halifax at 1% all there is?

Thanks.

eskbanker

NormW said:

I am struggling to find a good rate account for an under 7 with a lump sum (£1k+) where the parents don't bank with Santander and don't want it locked away till 18 (Junior ISA).

Is Halifax at 1% all there is?

Thanks.

https://moneyfacts.co.uk/savings-accounts/childrens-savings-accounts/ has various building society accounts between 1.5-2%, and/or you could drip-feed into one or more regular savers at https://www.moneysavingexpert.com/savings/child-savings-tax-free/#best

DragonQ

NormW said:

I am struggling to find a good rate account for an under 7 with a lump sum (£1k+) where the parents don't bank with Santander and don't want it locked away till 18 (Junior ISA).

Is Halifax at 1% all there is?

Thanks.

Just open a free Santander account to use their Mini 123 account for the kid. No need to "bank with them".