What to do with a cheque made out to a child.

keith_scarfe

I bank with Nationwide and would like to keep using them. I do all my banking on line and have 3 current accounts where I can transfer money between me, my wife and a joint house keeping account, all works well for me. We occasionally get a cheque payable to our children for birthdays etc. I cannot pay this in as they dont have a bank account. In the past we have politely told the sender and they either resend one payable to one of us or (more often) it gets forgotten about. I want to be able to set up an account for my children so I can pay these cheques in (without having to ask the sender for a new one each time). But you dont (with Nationwide) seem to get a current account for children, they are all savings accounts and thus, from what I understand, are unable to transfer money. Idealy I would like to pay these into a CTF or junior ISA but these dont accept cheques in the childs name. What are peoples suggestions as what to do? Thanks.

HappyMJ

keith_scarfe wrote: »

I bank with Nationwide and would like to keep using them. I do all my banking on line and have 3 current accounts where I can transfer money between me, my wife and a joint house keeping account, all works well for me. We occasionally get a cheque payable to our children for birthdays etc. I cannot pay this in as they dont have a bank account. In the past we have politely told the sender and they either resend one payable to one of us or (more often) it gets forgotten about. I want to be able to set up an account for my children so I can pay these cheques in (without having to ask the sender for a new one each time). But you dont (with Nationwide) seem to get a current account for children, they are all savings accounts and thus, from what I understand, are unable to transfer money. Idealy I would like to pay these into a CTF or junior ISA but these dont accept cheques in the childs name. What are peoples suggestions as what to do? Thanks.

Open a savings account. They accept cheques. If the kids are old enough (11) then open a normal bank account with a card attached.

thenudeone

Open a savings account.
Once the cheque is cleared, ask the bank or BS for a cheque made payable to whoever you want.

keith_scarfe

Ok ill go with their basic saving account then and will have to see how i can transfer the money to something with better interest. Prob a cheque as you say then pay it stright back in. Thanks all.