Grandparents Saving for grandchild

Jessybaby

Please, would someone let me know the best way to save a regular monthly amount for our new grandchild. Is it possible to set up an account in her name or does it have to be in mine?
Thank you

xylophone

If she has a JISA you could contribute https://www.gov.uk/junior-individual-savings-accounts/overview

You could look here http://www.moneysavingexpert.com/savings/child-savings-tax-free - if saving in bare trust for the child, the financial institution might require a parent to be joint trustee - only a parent or guardian can sign any R85.

Otherwise you might consider regular saving into an investment trust or OEIC in bare trust - example here http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/

Or you might find this worth a read https://www.hl.co.uk/free-guides/investing-for-children

atush

I would save into equities over that long a period, and via the JISA (if the parents choose equities) and via option 3 (investment trust in your name with child as designee) if not.