Child Trust Fund maturity

Goodvibesonly · 2 April 2024 at 10:20AM

My daughters CTF has just matured, and although I never added anything to it over the years I did expect it would accrue more that just £62 in interest over 18 years. It has maturity value of £312.
I feel this account has been really badly managed and have lodged a complaint, even their website says the interest was 2.3% before maturity ( it just matured in Nov 23) which would give a min of £103 interest over the 18 years..... I feel I am being taken for a mug and its hugely dissapointing when I see other accounts that have not had any funds added but have accrued £2,000 plus. I would appreciate anyone's advice or comments! Thank you

wmb194 · 2 April 2024 at 10:47AM

Goodvibesonly said:

My daughters CTF has just matured, and although I never added anything to it over the years I did expect it would accrue more that just £62 in interest over 18 years. It has maturity value of £312.
I feel this account has been really badly managed and have lodged a complaint, even their website says the interest was 2.3% before maturity ( it just matured in Nov 23) which would give a min of £103 interest over the 18 years..... I feel I am being taken for a mug and it’s hugely dissapointing when I see other accounts that have not had any funds added but have accrued £2,000 plus. I would appreciate anyone's advice or comments! Thank you

Where was it deposited? Was it just cash? Remember that for a large proportion of those 18 deposit rates were generally very low.

born_again · 2 April 2024 at 10:47AM

How much did it start with?
Any fee's to manage it? Which would eek into any gain?

Keep_pedalling · 2 April 2024 at 11:07AM

Interest rates were very low over most of that period and if this was a variable rate then it would have been lower rate over most of that period. You have ample opportunity to move this over the years so the only manager you have to blame is yourself.