Duplicate Fixed Rate Cash ISAs from same provider in same year

gt94sss2

Ictoanuk said:

I save money for my Grandsons (2) for when they are adults. I don't want them to have access to these savings until they are over 18yrs (potentially mid 20's) and therefore the savings are in my name alone. 

Have you/their parents considered opening Junior ISA accounts for the children rather than using your own ISA allowance for this purpose?

eskbanker

gt94sss2 said:

Ictoanuk said:

I save money for my Grandsons (2) for when they are adults. I don't want them to have access to these savings until they are over 18yrs (potentially mid 20's) and therefore the savings are in my name alone. 

Have you/their parents considered opening Junior ISA accounts for the children rather than using your own ISA allowance for this purpose?

Sounds like OP has considered this, and the reference to "over 18yrs (potentially mid 20's)" presumably signifies that automatic access at 18 is undesirable....

Ictoanuk

Update:

I have opened two I yr Fixed Rate ISAs (at 4.46%) with Kent Reliance. Relatively painless, once I got my head around the mechanics of opening the second account after speaking to one of their advisors, and allowed a day for the new account numbers to update in the banking system to allow the initial deposits from my bank.

gt94sss2, as eskbanker pointed out, I don't want my g/sons to have immediate access at the age of 18, preferring to see them start to make their own way in the world and hopefully giving them a helping hand with a house deposit or similar, I had considered the Junior ISA route but discounted it. Thanks for the suggestion though.