Child savings

thefunniefarmer

I have just been contacted by Nationwide to inform me that the interest on my daughter's account is being reduced from 2.50% to 2% g Smart Limited Access Saver.

The difficulty is she is now 17 and most accounts have a cut off of 15.


Any advice?



Thanks

xylophone

Does she have a Junior ISA?

If not, she might consider opening one and then transferring as much as possible from the savings account (up to £4368) to the JISA.

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html