Lloyds Banks - Children's savings

DanE

.....Lloyds Banks Children's savings: can one child have both the Young Saver and Junior Cash ISA at the same time?

I propose to fund a Young Saver for my nephew
His parent will fund a Junior Cash ISA

xylophone

Yes - the JISA is a saving/investment account not accessible until the child is 18.

The Young Saver has instant access and can be used for shorter term requirements. http://www.lloydsbank.com/savings/young-saver.asp

The "wise child" will have both....the parent should sign the R85.

You will note what happens when the child turns 16 - if the money in the account will still be held in bare trust, the account will pay interest net but the child's parent will be able to reclaim any overpaid tax on behalf of the child.

DanE

that's exactly what i needed to read - thank you for taking the time to respond

deffo the 'wise child' will not be missing out on the opportunity to have both: a R85 will be path of the course!!