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Saving for grandchild
damekaren
Posts: 10 Forumite
I want to put a regular sum of money into a savings pot that my grandchild can have when they are 18 or so. At the moment there is only one grandchild but I expect there may be one or two more. Can I have an account that can be shared?
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Comments
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Can I have an account that can be shared?
Not really a practical proposition.
Why not ask your son/daughter to open a JISA for your grandchild and make a regular monthly contribution of as much as you think suitable, bearing in mind that there may be other grandchildren to come?
https://www.gov.uk/junior-individual-savings-accounts
Or you might consider this for your grandchild
https://www.halifax.co.uk/savings/kids/kids-monthly-saver/ - on maturity it could be paid into the child's JISA account.0 -
A JISA is the best option (a stocks and shares one I'd suggest). I'm not so keen on that Halifax one as it only lasts a year before kicking out into a much lower paying account.0
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