Child-ISA & Savings Accounts

WCN87

Hi All,

We've just had a little girl, And I am keen on starting a savings account and child -isa for her.

Savings account: So that we can put money in there for her and have access to it to ensure it gets used for something like university, travelling, car etc.

Child ISA - So that we cannot touch it, and allow her to use it when she gets to 18.

Does anyone have any recommendations on the best accounts or any other advice? Something online so that we can give friends and family access to transfer aswell as allow us to put cash into.

Thank You

jimjames

The only suggestion I'd give is to not use cash but to invest the money instead as over the time period of 18+ years investments are likely to do much better than cash.

xylophone

Remember the £100 rule

https://www.gov.uk/savings-for-children - does not apply to JISA.

You might prefer to regard money saved in your own ISAs as money you will use for education etc?

Re JISA -https://www.gov.uk/junior-individual-savings-accounts/overview

friends and family can contribute but remember yearly limit.

See also post 2 here https://forums.moneysavingexpert.com/discussion/comment/69170525#Comment_69170525