Savings account for nephew

Tjrw1985

I am hoping for some advice...

i wish to start putting some money away every month for my nephew and wanted to know if I was able to open an account on his behalf.

I am not sure if my sister has opened an account for him.

I do not want to give the money directly to her as I am not convinced she will save it for him. Any ideas?

xylophone

http://bank.virginmoney.com/savings/learn/childrens-accounts/
might be worth a look - R85, if applicable, should be signed by parent.

Or your sister might be interested in opening a JISA for the child and you could pay in by regular standing order? https://www.gov.uk/junior-individual-savings-accounts/overview
Good rate from the Halifax if she happens to have ( or is prepared to open) an ISA with them. http://www.halifax.co.uk/savings/accounts/cash-isas/junior-cash-isa/
Or you might consider an investment trust in bare trustexample here http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/