Child Savings from Overseas

wobbletiger1

I am in the HM Forces serving in Cyprus and am trying to find a competitive childs saving account that I can apply for and manage online,( current one pays measly 0.75%) most banks etc require you to open an account in a branch to prove identity. Obviously I can't do that. Any suggestions?

Marco12452

Not many child accounts offere a great rate of interest. See - http://www.moneysupermarket.com/savings/search-all/?enquiryId=2171155 - for a comparison of ones that can be run online, allowing you to manage remotely.
You wil get 4.6% for the top rated, but this is a regualar saver account which runs for 1 year with a max of £1200 deposited over the year. The next best is 1.75%.
Perhaps you could open more than 1 to take advantage of the 1 year offer ?
Why not consider opening a completely separate account for yourself and just use that for the savings and nothing else. You could do this via a savings account, current account, cash ISA or a bond. Though the ISA option would have to be your annual allowance.
New child ISA's will be out soon so you can open in the childs name and not lose out yourself, but unsure when the release date will be.