Childs age that you have to disclose what you have saved for them?

cp2000

My child turned 16 recently. I have been saving into a childrens savings account but have never told them about it. At what age are you able to keep it from them or is it now time that i have to tell them. Thanks in advance. 

Keep_pedalling

Presumable the account is in their own name in which case they are entitled to manage it themselves from 18 so now would be a good time to tell them about it and give them some financial education.

jaypers

I believe that children should be taught about these things from an early age. Keeping it a secret and then sudden exposure to a sum of money is likely to mean it ends up being blown quickly. 

xylophone

I have been saving into a childrens savings account but have never told them about it.

If the account is in the child's name, you are holding it in trust for the child to whom the  money belongs.

Have you read the T&Cs of the account?

Some accounts specify that the child may take control of the account at age 16 while others operate on the basis that the adult may control the account up to age 18.

Examples from Halifax here

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