Children's savings/ISAs

Ben666

Can someone please help me as I seem to be up against the proverbial brick wall.

My two granddaughters, aged 12 & 14, live in Malta and any savings 'products' I've looked at are limited to UK residents. Does anyone know of savings, trust fund, ISA, etc. that overcomes this problem.

PS: Years ago, I did open up RBS Rainbow Accounts for them but the interest rate is pathetic.

xylophone

The interest rate on deposit accounts is poor at the moment and other posters have found that it is difficult to open accounts for non-resident children.
As non- residents they are not eligible for the JISA.

If you are saving for the long term, you might consider an Investment Trust held in bare trust. Example here http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/

" Q Does the child beneficiary have to be a UK resident?

A It is possible for the child who is the beneficiary not to be a UK resident and to live abroad. However, the donor(s) and trustees must be UK residents."

You would need to read the information very carefully especially as regarding access and control.