Newborn child bank/saving accounts

genny

Our new baby is now receiving cheques from family members, so we want to start saving them in our baby's name. Any tips on the best / most useful easy access / savings accounts to open, ideally we want to be able to move the money into other places too, buy some premium bonds in our baby's name etc, do all child accounts allow this by the parent? ANy tips, thanks!! (I've already had a loot at http://www.moneysavingexpert.com/savings/child-savings-tax-free
just wanted some recommendations)

qpop

The biggest concern given the timescale (18+ years) is inflation.

The "safest" savings accounts may well actually provide a significant risk that when your child hits 18, 21, 25, or whichever age you'd like them to access the money, they will access less money than was saved for them.

Real assets (equities, property, fixed-interest securities), over these kind of timescales, are generally a more reliable way of providing a real return.

There's a whole world of options, but it is definitely worth considering.

atush

You can start up a child regualr saver from Halifax, and put the money in monthly at a good rate. you'd have to open a regualr savings acct to deposit the money and drip it into the RS acct.

But I agree, that cash is not best for children. By all means keep some in cash, but the best way to go for saving for 18 years would be into equities. I prefer to save monthly rather than lump sums into an investment trust. You can look at junior Isas too.