kids accounts

jermyn

have 2 interest zone accounts with the Coventry BS since kids were born. They are now 11 and 7. Interest is now pants so does anyone know where i should put their money now? the accounts roughly have 3k and 2k in them.

opinions4u

Northern Rock do an easy access kids account paying 3%. They also have fixed rate term deposits.

If you want to add regularly to their stash, Halifax Kids Regular Saver pays 6% with conditions. You can also put kids' money in to their Guaranteed Reserve accounts. Alternatively, 11 and over can use Halifax online service so a Web Saver Reward may be an option for them to manage their own savings online, perhaps alongside and Expresscash or Guaranteed Saver Reward account to give them ATM access.

Bath Building Society were paying 5% on the first £500 last time I looked too.

jermyn

not sure if we have a NR branch in sheffield. looked at the halifax but doesn't look like you can put too much money in and manage his own money not an option as i want it for an 18+ nestegg and it would burn a hole in his pocket if he knew how much he'd got and could manage it himself.

Baldur

jermyn wrote: »

not sure if we have a NR branch in sheffield.

You do - http://www.northernrock.co.uk/mortgages/tools/branch-finder/:

110 Pinstone Street Sheffield Yorkshire S1 2HQ

opinions4u

jermyn wrote: »

looked at the halifax but doesn't look like you can put too much money in

Guaranteed Reserve restricts you to a mere £9m per account. You can open the account as trustee for your child, giving you control. Top rate 4.00%.

Maximum balance: £9 million per account