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Easy access child savings account that can be managed by both parents?
benz1
Posts: 3 Newbie
We were going to open a Virgin Money Headstart account as suggested by MSE for our 12 year old daughter as it offers good interest without dropping the interest over a certain amount. Unfortunately they only allow one adult to manage the account but we need both parents to be able to manage it. Any recommendations for an easy access account that offers decent interest that can be managed by 2 adults? Thanks.
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You and your spouse wish to open a (non JISA) savings account as BareTrustees for your minor unmarried child?
Are you yourselves providing the capital or has it been /will it be gifted by another party/through a will etc?
Are you both aware of the £100 Rule if you are gifting the money?
https://www.gov.uk/savings-for-children
That is £100 per parent per child.
Is there a particular reason why there is a requirement for both parents to sign?
If so, you'll need to check with the chosen provider if this is possible.
https://www.moneysavingexpert.com/savings/child-savings-tax-free/
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