Re-investment ideas for kids funds

Antmac

Hi

I'm wondering if anyone can help. Both my wife and I put £100 a month in bank savings for our kids but due to the terrible rates at the moment I know we're not using it wisely. Can anyone recommend any funds or long term places where the money would be better off? Apologies if this has been spoken about previously, I've really no idea where's the best investment.

Many thanks

MX5huggy

How much have you saved up so far? How old are they? Do the have Child Trust Funds (they will if they are the correct age) or Junior ISA’s? When do you want the money are you happy for them to have it when they are 18?. Do you use your own ISA limit? 

anxiousnow

Halifax will let you save up to £100 per month per child in its Kids' Monthly Saver (12 month term) at 3.5%. Barclays offers similar. Other than that have a look at Junior ISAs or Junior Stocks and Shares ISAs.

cloud_dog

Do you want to retain control of the money at age 18? 

ratechaser

cloud_dog said:

Do you want to retain control of the money at age 18? 

Perhaps the more direct question here is whether the money already saved is in a children's account (and so in the name of the child), or is it just a separate pot that the parents have kept completely in their own names?

Because if it's in an account for the child, then that money will be theirs at 18, and any ideas of maintaining parental control beyond that point are moot...