Child Trust Funds - am I being dim?

Benson

Hi

I have 2 CTF accounts one for each of my children which ive been putting money into, my 3rd child has just been born and although she doesn't get the voucher as they no longer do them I still want to open an account to save for her too.

I tried to open the same account and it got returned saying I had forgotten to enclose the voucher, but i don't get one.

Is the CTF account just for those that get the voucher? All of the normal childrens savings accounts don't offer anywhere near interest I get with the CTF accounts.

Can I not just open a CTF with my own money and keep saving?

If not is there a good site which will give me the best savings account info?

Thanks

dunstonh

You cant open a CTF for the child as they are now finished. You can open a child account though

Reaper

CTFs are being replaced with Junior ISAs later in the year if you can wait. No government money will be added to them though.

Benson

Thanks thats what i needed to know as i looked at Childrens savings accounts and the interest rates were dismal!

I'll wait to open the Junior ISA

Thanks,

cloud_dog

Benson wrote: »

Thanks thats what i needed to know as i looked at Childrens savings accounts and the interest rates were dismal!

I'll wait to open the Junior ISA

Eh.... Why wait?

Why not just open a childrens savings account, like Northern Rock 'Little Rock' instant access account (not forgetting to complete the R85 form) and then close / transfer in to a JISA once they are available?