HELP! Where to save Childrens Child Benefit?

mazza14_2

Hi

New to this so please forgive my ignorance. I have saved my childrens' child benefit ever since they were born, one now 13 yrs and the other 9 years. This is in a local building society a/c which is now quite substantial. Looking at some of the threads I think that perhaps I could have saved it in a better place re; tax etc. The b.soc, Skipton seems a little shaky locally so I wanted advice on moving their accounts to a reliable, secure bank/b.soc. I want to save their child benefit and have never had access to it as we want them to benefit from the full amount at 18. Sooo, where should I invest it?

Many thanks for any help and advice.

Dustykitten

Best child rate for instant access in a Building Society is Northern Rock Little Rock at the moment 3% as far as I know.

As you say access is not a problem you could put the lump sums into fixed rate bonds and still open the NR accounts for the 'new' money if you intend to continue to sve each month.

I'm just looking at the fixed rate bonds at the moment. I'll post if I find anything interesting.

ETA or you could put the new money into regular monthly savers - Halifax do one which I think is still 6% and then tip the money into a bond each year.

Old_Wrinkly

Dustykitten wrote: »

Best child rate for instant access in a Building Society is Northern Rock Little Rock

I didn't know they had a branch in Arkansas ...

Link to the NR "Little Rock Instant Access Account"
http://www.northernrock.co.uk/savings/branch-and-postal-accounts/little-rock-instant-access/

Link to the Halifax "Children's Regular Saver Account"
http://www.halifax.co.uk/savings/childregularsaver.asp