NS&I making life difficult for grandparent

deb0sca

I've been buying Child Bonds for many years for one grandchild or another. BUT, for reasons I won't go into here, I no longer have contact with my younger son and wife so have simply continued buying bonds for my 6 year old grandson. NS&I have just written to tell me that, following new procedures, in order to buy Bonds in future, I must get the NS&I number from my son (they won't give it to me). I am NOT going to contact him, nor will I send him the money to buy the Bond ... so, any ideas please? :mad:

somethingcorporate

What NS&I number are you referring to?

If those are the rules and you need the number and only your son has it I am not really sure what you expect?

xylophone

Might you consider a regular investment into an investment trust held in bare trust for the child? Over twelve years you have the hope of outperforming cash?
Example here http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/

atush

I agree with post 3, open a different type of acct and hold it for them there. But you wont be able to hold cash and not pay tax (unless you don't pay tax) as you would still need the parents to fill out an r85.

In any case, with long term investments, equities are better than cash so look at an investment trust savings plan.

And whatever your disagreement, any father who would withold a NI number so his child would not get money form a relative is not a good parent IMHO. It is OK for him to refuse any sort of inheritance for himself, but not for his child.