Children's savings / ctf

miss_sparkle

Hi, my 2 children who are now 7 & 5 both got child trust funds when they were born there is currently around £3000 in each.
They are both with Britannia, standard ctf not share ones

The interest rate is virtually non existent, so I wondered if there was anywhere better they could put their money until they are 18/21 whichever it is.

We could put around £10 a month in to each as direct debit if needed, so far it has all been birthday/Xmas money

Both myself and husband were made bankrupt in 2008, almost 6 years up if that has any effect on the type of accounts we could get?
I don't want any access to the money

We are also expecting another baby so would be looking at setting something up for them to

Any advice much appreciated

xylophone

Find out whether you can transfer the CTFs to the Yorkshire Building Society? http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers

It is anticipated that you will be able to transfer the CTF to JISA at some point in 2015. http://www.thisismoney.co.uk/money/saving/article-2528285/Parents-able-transfer-CTFs-Junior-Isas.html

Your new baby will be eligible for a JISA immediately.

See https://www.gov.uk/child-trust-funds/overview for information about CTF and JISA administration.

dano17439

I have been with Yorkshire BS from when my 8 year old was born. Yes its a cash savings trust fund but she still gets 2.3% on her pot, which I don't think is too bad