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Best account for my children to put savings in
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Just to follow up on the earlier posts about junior ISAs, only the youngest of OP's three children would be eligible anyway, according to the age-related rules specified at http://www.moneysavingexpert.com/savings/junior-isa#whatis
Sorry, my suggestion of ISAs wouldn't work. I hadn't taken the children's ages into consideration.
Would the two older children have Child Trust Funds that could be topped up? - and the youngest could have an ISA.
Premium Bonds are probably not a good idea. Inflation will erode the value of their inheritance.0
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