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Been advised to put CTF into ING Bank. what do you think?
Comments
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the FA surgested i put the £250 into an investment bank account
not a CTF account0 -
Sorry i think i'm lost here. The £250 cheque from the Child Trust Fund can only go into certain accounts and only certain providers are doing these accounts. You can't take the money anywhere and put it in anything.edmond wrote:the FA surgested i put the £250 into an investment bank account
not a CTF account
There is a thread at the top of this page which discussess the various places to put the money but the money isn't yours it's your childs and can only be taken out by them when they reach 18. It is then their money to spend as they wish.0 -
ING has one savings account AFAIK & they are more interested in large amounts of cash from high rollers. The CTF doesn't fit their profile. Check again with your IFA what he meant.
His general advice rings true. Cash for the CTF money (with no 1.5% fees) and then any extra regular payments in other stock market vehicles at lower fees.0 -
thanks for all the advice0
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