Investing £25,000

butterflysam

Hi

Need some help please.
I have just been given £25,000 from my Dad for safe keeping as he wants the money in my name not my Dad's (long story ............ family matter :mad: )

I want to put it into a high street bank whereby if my Dad needs to get access to it, I can go with him and draw it out.

I was thinking of e-savings account and then just transfer amount to my current account to draw it out if he needs it, or is there a high street lender that anyone can recommend that is going to give us the best interest rate on the money.

This is a bit of a bomb shell dropped on me this afternoon, and am a bit unsure as to what to do.

Any advice would be much appreciated.

Thank you
x

Andy321_2

If it is cash be carefull !

See: http://www.laundryman.u-net.com/page8_efonfin.html

Brodel

I have a similar amount in a Nationwide e-savings account, I find it very useful as I can transfer it into my other nationwide accounts as well as other peoples nationwide accounts very easily (most of my family have nationwide accounts).

http://www.nationwide.co.uk/savings/e-savings/rates.htm

I placed the money in there when I first recieved it about 3 years ago and haven't had a single problem. However I did not do a lot of research with regards to getting the maximum returns at the time so there may be better options out there. I will be watching replies to this thread too lol

butterflysam

Thank you for the replys.

Regarding the money laundering, the money is actually from my elderly great uncle who is in an old peoples home. He is 90 now and sadly to say he is on his last legs. He has given my Dad the money as he bought my Dad up as his own Son, as his real Mum was going to put him up for adoption. It is a very long winded and sad story. The short of it being, is that my Uncle interupted the adopotion process and bought my Dad up as his own Son.

He has now left all his worldly goods including the £25,000 to my Dad and we do not want my Dads side of the family to have any claim on the money. We haven't seen or spoken to them in over 10 years and they have never once visited my Uncle in the home. This is why we feel so strongly that the money must go somewhere safe. My Dad is the sole beneficiary of my Uncle's will and I am the sole beneficiary of my Dads will and he wants me to have the money now for safe keeping.

Obviously the money will not be mine, until god forbid anything happens to my Dad. It is my Dad's money, but if saved and invested wisely will one day be mine.

I really hope this has made sense. You have just really worried me about the money laundering thing as in our case it is just a really sad family story :rolleyes: