CTF - what to do with sons voucher?

NatashaP

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!

Mikeyorks

NatashaP wrote: »

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)