opening bank account for my 6 month old son?

5limJim

is it possible to do this, so I can start putting money away for him for the future?

any recommendations if so?

mischiefmaker

When my DS and DD were babies i opened savings accounts with nationwide. Not sure about rates and stuff though.

SoloSailor

If you can save a little bit each month for the next year. I would recommend
the Halifax Childrens Regular Saver at 8%. Even if you can only save a tenner a month!

5limJim

SoloSailor wrote: »

If you can save a little bit each month for the next year. I would recommend
the Halifax Childrens Regular Saver at 8%. Even if you can only save a tenner a month!

sounds interesting, cant see it on their website though for informaton

edit: just spotted it now, in the SAVINGS section, cos thats exactly what you described, unlike me being a dumbass and looking at the current accounts

SoloSailor

http://www.halifax.co.uk/savings/childregularsaver.asp

Don't forget to register for Gross intereset too

littlemrtinkle

i second this account

the Halifax Childrens Regular Saver at 8%

Kavanne

wish i had a kid so i could open that account lol

jonnyb

Kavanne wrote: »

wish i had a kid so i could open that account lol

I'm sure you can open one "in trust" if you want.

Kavanne

jonnyb wrote: »

I'm sure you can open one "in trust" if you want.

I don't know any kids that deserve me saving up for them!! ungrateful little....

5limJim

loaner wrote: »

Until the debts are gone, you'd be throwing money away by borrowing to save

how would i be borrowing to save?

to be honest, its money more from grandparents that they give each month that we just put into a tin and its just sitting in the house, so for him, its earning nothing sitting in a tin

5limJim

loaner wrote: »

If it came from the grandparents, it's different.

But if you add to it, you'd be effectively borrowing money from your overdraft/Credit card (presumably at a high interest rate, unless you are a student), to put into an account earning very little.

Don't you have a child trust fund?

http://www.childtrustfund.gov.uk/

yeah i understand that bit, its the same as why have money sitting in a current account doing nothing, just throw it all at the highest APR debt...