Young Savers Interest Rate Reduction

chelseablue

Also got the letter from Halifax yesterday. My son only has about £600 in his so don't really need to move yet.

I use his for paying in his birthday and Christmas money, he has a S&S ISA that's got almost £6,000 in.

3 years old and he's got more money than me :rotfl:

mrssjs

Also received my Halifax letters. Cashcard at 7 is being scrapped, but finally you can control both the young saver & regular saver online.

Young saver is dropping to 0.2% over £5k
But regular saver is rising to 4.5% from 4% AER

Zorillo

One of our Young Saver accounts has appeared on my Lloyd's app. There is currently no sign of the other, identical, account!

Edit: it's appeared!

jimjames

TopCat1963 wrote: »

Thanks for the replies. The post on new accounts that are available are just to tie you in for a year, paying in a max monthly amount for the year, then back to hardly anything after that. But my question was where best to move the amount of money, i.e. £15K that the young saver account will now only get 0.2% interest and still be for a young saver.

If it's a more general where is the place to get the best return then using investments not bank accounts is likely to do that over the sort of timescales involved and if he would only have access after 18