£600 to invest - don't know what's best!

Aquarian3_2

Oooh that rhymes ;D

My two children were left some money in a Will, I wasn't happy with the executor having the bank accounts in his name so I asked for the money to reinvest into their names and I now have two cheques of £611 each.

Can anyone advise me what accounts are best for them please?

One child has just turned 14 (July 2004) and the other child will be 8yrs old next April (2005), I don't want them to get their mitts on the money to waste and would be grateful for some sound advice please

Thanks in advance

Lee
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realaledrinker

Nationwide's kids accounts are the best savings accounts at the moment.

zx2011

See http://www.moneyfacts.co.uk/savings/charts/child_high_street.htm

Aquarian3_2

Thanks guys

Lisa
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Ally

I have just opened accounts for my two girls.

Go for the best interest rate, A&L I think. Also, Keep an eye out for the gifts they give.

Natwest - a book voucher (Atlas or my first word book - age related) We also got a piggy bank and digital organiser for free. Also, you get a folder for keeping all your money info in with great little stickers and money saving charts for kids.
Nationwide - a pack with money off vouchers and charts and activity books.
A&L - nothing, just a good interest rate!
Abbey - you get a small radio or a little teddy or Puppy.

We are going to do Lloyds next, where you get a black horse money box. And then Halifax where you get a bag, wallet and some other activity stuff! Keeps my eldest happy about giving her money to the bank!

Aquarian3_2

Thanks Ally,

I'll do some asking in the town and see what the banks are offering and their interest rates, we have opened up savings accounts with Nationwide some time ago, the boys only have a small amount of money in there (less than £30) and the freebies were nothing special and from memory not used, they were opened for convinience as the bank was local - but I'll do more shopping around now with the banks you've given me and the link posted earlier

Thanks again,

Lisa
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