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Halifax & kids savings accounts
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B0bbyEwing
Posts: 1,579 Forumite
So with their monthly kids saver account at the end of the year the money is moved to a kids saver account. Which is what has been happening.
Side note - I thought the interest rate on the monthly saver account then drops but apparently it doesn't, or at least it hasn't.
Anyway all straight forward with 1 kid but what is the situation when you have 2 kids saver accounts? Do you get a prompt at the end of the year asking you where you'd like the monthly savings balance to be transferred or does it just default to the child who had an account first?
How does it work?
Side note - I thought the interest rate on the monthly saver account then drops but apparently it doesn't, or at least it hasn't.
Anyway all straight forward with 1 kid but what is the situation when you have 2 kids saver accounts? Do you get a prompt at the end of the year asking you where you'd like the monthly savings balance to be transferred or does it just default to the child who had an account first?
How does it work?
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https://www.halifax.co.uk/savings/kids/kids-monthly-saver.html
Each child has his or her own monthly saver/child saver?1
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