saving for new grandchild

jenster

we've just recently had our first grandchild and would like to open a savings account for Him , were not in a position to put 100's in ,just the odd  tenner/twenty here and there   , what would be the best account to do this  pls 

PRAISETHESUN

It's probably easiest to just open a second account with your current bank and set aside the odd bit of cash as and when you can. Otherwise a JISA or a children's savings account would be the other option, but these need to be opened in the child's name and managed by the child's parent(s).

See here:
https://www.moneysavingexpert.com/savings/child-savings-tax-free
https://www.moneysavingexpert.com/savings/junior-isa/

xylophone

Have his parents opened a JISA for him?

You could contribute.

https://www.gov.uk/junior-individual-savings-accounts

Or you might consider Halifax  Kids' Monthly Saver?

https://www.halifax.co.uk/savings/kids.html

A grandparent can open a savings account for their grandchild, in the child’s name, as long as they can provide documentation such as the child’s birth certificate.

Trynsave2

Perhaps start a pension plan? Never too young.