Account for baby with no restrictions on deposits.

Legacy_user

A grandchild is due and a savings account is required by the parents, they say of those they have seen, there is a limit to how much can be deposited each month. Is this so?, If it is, does anyone know of accounts that don't have a restriction please.

opinions4u

Northern Rock Little Rock account pays 3% and is capped at £10k.

Lloyds TSB Young Saver also pay 3% interest with a £20k cap.

Are you thinking of exceeding these numbers?

xylophone

They are not confined to accounts specifically for children - they need to check out various accounts and ascertain whether the provider will open a "re" account - http://www.hmrc.gov.uk/tdsi/children.htm - note tax considerations when money is provided by parents and invested outside a JISA or tax free account.
Play around on this?
http://moneyfacts.co.uk/compare/savings/accounts/search/

atush

I am thinking they were looking at a regular saver such as Halifax, which restricts the amt that can be paid in per month?

System

Your replies will be sent to our daughter/husband thanks.

Opinions4U, I wouldn't have thought so.

xylophone, yes ok.

atush, yes they were, hence the question.

I imagine your comments will suffice, thanks.