Bank Account for Kids

dougal76

Hi,

I'm looking to open a bank account for my nephew and wanted to know if anyone can recommend a good account. I don't want him or his parents to know that I am saving the money for him and as such I need an account that will send all the relevant info to me and not him, although the account will be his name so he can get the money when's he old enough. Is it possible to get an account like this or not? Cheers.

adamc260

I believe... and I probably will be corrected here but only his parents can open the account =/!

My parents wanted to do the same for my nephew (obv their grandson) and were told they couldnt.

What your doing is very cool though :O!! Makes me feel like a bad uncle now.

Just keep the money in a savings account of your own?

pinkdalek

I suppose it depends on which bank. You can open a young saver account at Halifax for your nephew, the only problem is you would require to verify the identity of your nephew eg passport or birth certificate which would mean his parents would need to know.

I would imagine you would have this issue with most banks, the other option would be to just open an account in your name and save money away for him, making sure you specify in your will that the money in that account is specifically for him.

dougal76

pinkdalek wrote: »

I suppose it depends on which bank. You can open a young saver account at Halifax for your nephew, the only problem is you would require to verify the identity of your nephew eg passport or birth certificate which would mean his parents would need to know.

I would imagine you would have this issue with most banks, the other option would be to just open an account in your name and save money away for him, making sure you specify in your will that the money in that account is specifically for him.

I will try that, I have managed to procure a copy of his birth certificate without his parents knowledge. Left me in their house to take my nephew to nursery or something, so I spent about an hour raking until I found the certificate and made a copy. Hopefully a copy is good enough.

meer53

Think you'll need the original to open the account.

ses6jwg

You can apply for a duplicate issue of anyones birth certificate as long as know where the birth was registered, the childs name, place of birth and one of the parents names.

I applied for my daughters for £9 online. You are not required to provide any ID or reason why you are applying.

jennifernil

One problem might be the R85 to get interest without tax deducted. Some banks insist on a parent signing it..

You will need an original birth certificate, not a copy.

IceColdRum

Can't you just order a certified copy online?

http://www.gro.gov.uk/gro/content/certificates/

opinions4u

I think I'm in love with Dougal76's picture.

Money_maker

Just remember Dougal is a bloke...

pinkdalek

jennifernil wrote: »

One problem might be the R85 to get interest without tax deducted. Some banks insist on a parent signing it..

You will need an original birth certificate, not a copy.

OP could claim tax back via Inland revenue if they wanted and although I would never promote such an idea OP could sign form as parent, are the HMRC really going to bother?