We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
CTF - what to do with sons voucher?
NatashaP
Posts: 115 Forumite
Hi!
I'm currently looking into where to put my new baby's ctf voucher. My daughter has an account with the childrens mutual, which we top up via monthly standing orders, but I wasn't sure whether to use them for my son. They seem ok, but is it at all risky to use the same company to save such a huge amount of money? Would I be better off using a different bank/bs/whatever for my boy's account?
You can probably tell I'm a bit clueless when it comes to savings etc lol!
I'm currently looking into where to put my new baby's ctf voucher. My daughter has an account with the childrens mutual, which we top up via monthly standing orders, but I wasn't sure whether to use them for my son. They seem ok, but is it at all risky to use the same company to save such a huge amount of money? Would I be better off using a different bank/bs/whatever for my boy's account?
You can probably tell I'm a bit clueless when it comes to savings etc lol!
LBM - January 2008 ~ debt - [strike]£16,260.00[/strike] £16,90.00 ~ Debt-free date - October 2016! :eek:
Official DFW Nerd Club Member No: 842 ~ Proud to be dealing with my debts!! :cool:
0
Comments
-
but is it at all risky to use the same company to save such a huge amount of money?
You're OK up to £35k for each account (assuming they're in different names .... and that the company are FSA regulated {leave you to check})) ... so I doubt that's an issue.
On the CTF - read this article from the main site :-
http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers
- in particular read through the .pdf that's linked round about the 2nd major para. Not sure if Childrens Mutual do a CTF .. so leave you to check that? (EDIT - they do - detail here : http://www.thechildrensmutual.co.uk/default.aspx?page=40)If you want to test the depth of the water .........don't use both feet !0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards