Tied in, but can add to each month?

CharllieSays

Hi guys,

Would love some advice for my partner. He is looking for an account that he can transfer money to each month, but that won't let him take money out of (he has ADHD and if he can get to the money then it will get spent). He managed to save up £2500 last year, then it was spent in one stupid decision which he now regrets.

We have looked at bonds, but so far everything we've seen asks for a large lump sum up front that cannot be added to each month. Then there are ISAs that you can add to each month, but allow you to remove money from (even if with a penalty). He needs something that will not allow him to touch the money until the agreed term is up. He doesn't have a huge lump sum to start with (£1000 perhaps), but earns enough each month that he could easily direct a percentage into savings.

Any ideas?

bigadaj

You need to look at regular savers, some have access and some don't. Special savers thread on this board is I think a sticky so look at that at teh top of this board.

xylophone

Use a joint account which requires two signatures for withdrawals? You can act as his good angel.....