Bank account for 16/17 year old

alioliver

my child will soon become 16 and I notice that her child bank accounts revert to adult ones paying dismal amounts of interest.  What accounts are good for 16/17 year olds.  I don't want to put any money into CTF as I don't necessarily want her to gain access at 18.

eskbanker

alioliver said:

my child will soon become 16 and I notice that her child bank accounts revert to adult ones paying dismal amounts of interest.  What accounts are good for 16/17 year olds.  I don't want to put any money into CTF as I don't necessarily want her to gain access at 18.

If the money is in her name then she's legally entitled to it at 18, regardless of whether it's in a JISA, CTF, savings or bank account.  If you want to prevent her from having access then you'd need to keep it in your name, but obviously you can't take it back if it's already in her accounts....

colsten

When your daughter becomes 18, she is an adult and can decide for herself what happens with money in accounts in her name. You can try to guide her but you have no rights over her finances.

xylophone

my child will soon become 16 and I notice that her child bank accounts revert to adult ones paying dismal amounts of interest. 

If the accounts are in her name, then she already has the absolute right to access and control no later than age 18.