Children's savings accounts

samwise79

Hi, I have recently come into some money and am looking to put £5k into a savings account for my 2 children. Whilst there is advice on here it only points out the best account for £1k, up to £3k and then jumping up to £10k.
   This would be for a nest egg when the kids are older and also so they can put money in as they wish from Birthday's etc. 
  Any ideas on what's best out there? My kids are 8 and 9 years old. 
Thanks!

samwise79

To clarify £5k each. 

eskbanker

https://www.moneysavingexpert.com/savings/junior-isa/

jimjames

To be honest the amounts don't really matter, look at the rates and see what suits best. There is not really any difference between putting £3k into an account or £5k unless the account has limits like a JISA does.

Polly05

If its for the long term, how about a junior stocks and shares ISA? 

xylophone

Do your children already have Junior ISA accounts?

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


For example, a new parent might decide to use a lump sum gift of £5000 to invest in a stocks and shares JISA with (say) Fidelity and also open a cash JISA with (say) Coventry BS to receive anything up to £4000 in the tax year by way of pocket money, birthday gifts, Christmas money from auntie etc.

https://monevator.com/best-global-tracker-funds/

anxiousnow

Halifax Regular Savers can take £100 per month per child - 2.5% now I believe.

Stocks & Shares ISAs (we have Vanguard) and a Cash ISA each.