Use your child - best child savings account

punkrocket

Thanks for the info. I rang them and they said a nominee in my case, trustees are for more for when someone is appointed responsibility say for example by a court.

HAIRY_MCLAIRY

I've been looking at the halifax regular saver account for my children. As the accounts would be held in my name in trust for my children, does this mean I wouldn't have to declare the interest to the taxman. With other savings, they do earn more than £100 per year in interest.

grumbler

See posts #78-79 in this thread ...

tyneforth

i have two children ages 2 and 4 years. Grandparents are gifting 4 sums of £250 per child per year. They want their grandchildren to have access to funds when they are no younger than 18. Wiling to take a risk on growth to maximise fund.

neet

Issue - Child (age 5) with sizeable lump sum from parents mainly invested in shares but variable amounts of cash arise from income/disposals on which awful rates of interest are paid. Question - I am trying to find a net enabled child savings account (or perhaps better current account which can then be linked to a higher rate deposit account) so that 1. money can be transferred to it via BACS from a share delaying account 2. bills for the child can be paid electronically eg returning cash to the dealing account when a share purchase is made or paying a bill for the child. Anyone got advice on where to start. Happy to have the account in own name with child initials designating it.

malcolmlowry

I have been executing my late fathers will and a legacy of £1,000 to each of his 2 grandchilden (my nieces) is included. All involved agree that they should not have the money until age 18. I would have liked to use a low cost CTF to invest in an equity fund but as they were born prior to the CTF introduction date I understand this is not possible. Bearing in mind their incomes would not exceed the personal tax allowance I need a cost-effective way of to putting this in their names but retaining control until they come of age.

I was wondering whether this was feasible when using fund based investments either within or outside an ISA wrapper. Any thoughts please ?

mattogier

Hi

We have recently been given £60k for the 3 kids (4, 9 & 10) university education but we (their parents) have been told to use any earnings from this money as we see fit. What is the best way to "invest" this money that will protect the capital and maximise the return?

Cheers, in anticipation, for the advice.

Matt

DigDigDigging_2

Martin,

Read your article on Child Savings and have set up a couple of Halifax Children's Regular Saver accounts in mine and my wife's name, and to maximise interest also opened up to save4it accounts to drip feed into the Regular Saver's. I knew before applying that the Regular Savers couldn't be funded directly from the save4its, so also opened a current account.

However, now turns out that save4its don't allow Standing Orders (I had thought to SO the money from save4its to current to Regular Savers). Anyway, I've now been looking for a good children's savings account which allows SOs and can't find one.

Your suggested Loughborough & Saffron Walden ones from the account can't do it either, so is your drip feeding suggestion actually possible?

You mention the idea of drip feeding the 10% Halifax account from another savings account, did you have one in mind?

mary

Savings accounts by their very nature are Savings Accounts where you leave money. Standing Orders operate on Current Accounts, which have daily toing and froings.

System

DigDigDigging, when i opened my Halifax Regular Childrens Savings account for my son, i opened up a Halifax Websaver too. At the beginning of the first year i deposited £1200 into the Websaver and by standing order that money was drip fed into the Regular Childrens Savings account.