Savings account for Godchild

Grumpysally

I want to open a savings account for my God daughter. However I don't want her parents to know, as her mum, though lovely, is terrible with money and has been known to 'borrow' from her older children's savings. So it would be easier if she didn't know about this.
Someone has told me that I need to show a child's birth certificate in order to open an account, obviously I don't have this.
I don't want to put money into her child trust bond, I'd like the time when she got the money to be at my discretion.
Thanks

Amba_Gambla

AlisonW wrote: »

I want to open a savings account for my God daughter. However I don't want her parents to know, as her mum, though lovely, is terrible with money and has been known to 'borrow' from her older children's savings. So it would be easier if she didn't know about this.
Someone has told me that I need to show a child's birth certificate in order to open an account, obviously I don't have this.
I don't want to put money into her child trust bond, I'd like the time when she got the money to be at my discretion.
Thanks

You don't need a birth cert to open the account.
I opened one for my nephew for his christening. The parents had to sign a form so that it didn't get taxed. I have the building society book, and I pay in every birthday, and the parents, or my nephew can't get at the cash unless I give them the book (his 21st birthday!)

mrs_thrifty_2

I have been paying into an account for my goddaughter for over 16 years. The account was opened with her mum as a signatory ( to allow gross interest to be paid) but I have always kept the book.

TAG

Amba_Gambla wrote: »

You don't need a birth cert to open the account.
I opened one for my nephew for his christening. The parents had to sign a form so that it didn't get taxed. I have the building society book, and I pay in every birthday, and the parents, or my nephew can't get at the cash unless I give them the book (his 21st birthday!)

When was this account opened?

My DD grandmother opened a savings account for her in 2003 and needed DD birth certificate. All banks/building societys ask for it now because of money laundering.

OP, if you really don't want your god daughters mother to know about it you could get a copy of your god daughters birth certificate yourself. Not sure on cost abut £7.50 ish I think.

Of course the other option you have is to contribute to her child trust fund. Only your god daughter will be able to access this when she's 18.

rosie-lee

I've no idea if you need a birth cert or not but if you do,
go on the web site of the local council where your Goddaughter's birth was registered.

They will provide you with information about how you go about getting a copy of it in that area. Some Councils vary but they are always cheaper than going through GRO.

SeptemberBaby_2

I certainly had to take my DD's Birth Certificate into the Halifax when I opened an account for her last October (and I have been with them for many years). I'm sure its something to do with money laundering, as mentioned above.

What a lovely God Mother you are! Hope you get it sorted.

x

Amba_Gambla

I opened the account in 2006. I may have had to get the parent's signature on teh forms to get the account, I can't quite remember. I'm pretty sure my brother would never have trusted me with his first born's birth certificate!

Grumpysally

Thank you for all your replies. I guess the thing to do is to ask at the bank B/S. I don't want to contribute to CTF as I don't believe eighteen year olds can be trusted with large amounts of money, (just think of all the booze and drugs they could buy)
Mind you at the moment perhaps I'd be better off stashing it under my matress or investing in gold!

dangers

My son's God Mother opened a Post Office savings account for him when he was Christened. She didn't need his birth certificate for that. However, that was back in 1999 and things may have changed since then.

TAG

AlisonW wrote: »

Thank you for all your replies. I guess the thing to do is to ask at the bank B/S. I don't want to contribute to CTF as I don't believe eighteen year olds can be trusted with large amounts of money, (just think of all the booze and drugs they could buy)
Mind you at the moment perhaps I'd be better off stashing it under my matress or investing in gold!

I quite agree with you Alison about the CTF/18 year olds and lots of money.

DH and I have had this discussion. I've always been adamant that should any of my children be left vast amounts of money. It should be put in trust until they are 30. He disagrees and says that's to old.

I just feel that by then, hopefully, they should all be pretty much settled, done their 'things' got it out of their systems and know which path life is going to take them. Therefore putting any money to good use.

*Louise*

I agree that 18 isn't the best age for someone to get their hands on a Trust fund. My kids savings are seperate so I can hopefully hold onto it till they're 21 (unless they go to Uni that is)

OP - if it turns out you can't manage to open an account, then you could always open an acc in your own name and save their on behalf of the child, to be handed over at your discretion. Just make sure you have a will in place that states what is to happen to the money should anything happen to you.

It's a lovely idea, your god daughter is a lucky girl.