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Childrens Savings Accounts
Poppysoxs
Posts: 1 Newbie
Does anyone know of a children's savings account which is...
A/ unrestricted as to how much you can deposit each year
B/ can only be accessed by the child (no one else)
Any help much appreciated.
A/ unrestricted as to how much you can deposit each year
B/ can only be accessed by the child (no one else)
Any help much appreciated.
0
Comments
-
What age are the children?
A JISA would seem to meet B but not A.
Most other accounts would be a problem if the child was under 11 as there would be no way to operate the account.Remember the saying: if it looks too good to be true it almost certainly is.0 -
If the child is under 18 (16 in Scotland) the account can be held in bare trust so that only the bare trustee would be able to manage/access the account.
There are accounts that the child can access from the age of 7/8/11 etc but some are restricted as to the amount paid in - http://www.which.co.uk/money/savings-and-investments/reviews-ns/childrens-savings-accounts/best-rate-accounts/ might be worth a look.0
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