Childrens higher rate accounts??

Spon40

In your article regarding childrens savings accounts it is mentioned that often interest rates on childrens accounts are often higher than the equivalent adults accounts. The best rate mentioned for a childs account at the moment is currently the Halifax save4It account at 5.55%, however, adult accounts are quoted with interest rates in excess of 6%. In this instance isn't it better to open an adults account and use this to fund the child instead?

baby_boomer

You are right that children's accounts are paying poor interest at the moment.

Children are often eligible for better paying adult accounts or fixed rate bonds.

Search at MoneyFacts which allows you to put age as a filter, so that you don't waste your time tracking down these accounts.

http://www.moneyfacts.co.uk/searches/savings.aspx