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Best kid's savings accounts for large amounts?

Obviously with the incredibly low interest at the moment I'm looking to get the best return i can. 
I noticed that the virgin money young saver is 1.75% up to £25,000 per account. So is there anything stopping me putting my money in my niece's account and getting the higher rate?
are there any comparable accounts for large amounts? As there's no branches near me so woukd have to withdraw by post

Comments

  • ratechaser
    ratechaser Posts: 1,674 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Blimey, the number of troll posts today must be breaking records...
  • Blimey, the number of troll posts today must be breaking records...
    Meaning?.
  • Alexland
    Alexland Posts: 10,243 Forumite
    Eighth Anniversary 10,000 Posts Photogenic Name Dropper
    edited 10 December 2020 at 12:41PM
    We know from other forum members encountering difficulties withdrawing that Virgin Money are very alert to the possibility of people using children's accounts for the higher interest rates so you may get asked questions about the high deposit (to confirm it really is a gift) and on withdrawal if you are trying to take the child's money back it may not be successful.
    Still it could give the child a really good start in life so go ahead as a really nice gesture but there are better rates available with Junior ISAs.
  • ratechaser
    ratechaser Posts: 1,674 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Geoff9999 said:
    Blimey, the number of troll posts today must be breaking records...
    Meaning?.
    Meaning that when you are openly proposing fraud and tax evasion, I don't feel the need to be as subtle as Alexland in my reply.
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