Saving/investment/ISA (?) for the future of my baby

xylophone

If the money was given to you rather than as a direct gift to your child, then the money is your money, not his.

If your child receives very modest gifts of money Christmas/birthdays etc, then the best available cash JISA (interest offered above inflation), could be a good home.

System

xylophone wrote: »

If the money was given to you rather than as a direct gift to your child, then the money is your money, not his.

If your child receives very modest gifts of money Christmas/birthdays etc, then the best available cash JISA (interest offered above inflation), could be a good home.

Just asking, as I only following this out of interest, am I right in thinking that money cannot be withdrawn from an ISA (or JISA) until the child is 18? If the child (any child) wants to access their money for something (the first "big" purchase mine made was for a scooter which he'd saved for from Christmas and birthday and which Father Christmas forgot to put on his sleigh!!!!), would a savings account be of additional benefit?

xylophone

J

ust asking, as I only following this out of interest, am I right in thinking that money cannot be withdrawn from an ISA (or JISA) until the child is 18? If the child (any child) wants to access their money for something (the first "big" purchase mine made was for a scooter which he'd saved for from Christmas and birthday and which Father Christmas forgot to put on his sleigh!!!!), would a savings account be of additional benefit?

The JISA cannot be accessed until age 18.

There are other savings accounts for children which are easy access.