Children's savings

LopezLopez

I was wondering if any of you could recommend a savings account for children. I'm not talking a lot of money here. Say £500 initially and then perhaps £50 monthly. Thanks all.

Zoetoes

I have just opened the Halifax regular savings accounts for my kids, 10% interest for a year. You have to set up a standing order of between £10 - £100 per month to pay into it & at the end of the year they will get 10% interest, you won't get higher than this.

At the same time you have to open the Save4it accounts for the money to go into at the end of the year.

If you wanted to you could use the first £500 as the standing orders aswell, put it into another account for it to come out of to go into the regular, you could set up for £100 a month at first to use the £500 then lower the amount to £50.

LopezLopez

well worth checking, many thanks