child trust fund voucher??

scooper

hi, i am just about to put my childs trust fund voucher into the bank and i am still unsure of where to put it.
i have seen in asda today that if you put it with them you get up to £25 worth of vouchers to spend in george.
is this a one off offer or is there other places where you get ''free things'' that can beat asda?
hope to hear a reply
thanks

dunstonh

i have seen in asda today that if you put it with them you get up to £25 worth of vouchers to spend in george.

Are you saving this money for the benefit of your child or to get a cheap gimmicky deal for yourself?

No offence aimed at you but more at these providers that seem to think that people will fall for cheap gimmicks at the expense of their children's future. Obviously, the fact they do it, means that people do.

16-18 years in a savings account is just a waste of the voucher. Investing it in a childrens mutual CTF (or equivalent - its just that most providers use childrens mutual as the administrator and white label it as their own) is a much more sensible approach. You may not get vouchers but at least the money has the potential to do a lot more and have real growth over the years rather than doing not much more than maintain its £250 value in real terms.

edit: added this as i didnt want to sound I was against the OP but just to clarify that I am against gimmicks which encourage something which is probably not in the best interests of the person the money is really for.

jo_b_2

dunstonh wrote:

Are you saving this money for the benefit of your child or to get a cheap gimmicky deal for yourself?

16-18 years in a savings account is just a waste of the voucher. Investing it in a childrens mutual CTF (or equivalent - its just that most providers use childrens mutual as the administrator and white label it as their own) is a much more sensible approach. You may not get vouchers but at least the money has the potential to do a lot more and have real growth over the years rather than doing not much more than maintain its £250 value in real terms.

The vouchers can be transferred from different providers without any penalties,though, so I don't see any problem with trying to bag as many goodies as possible and then moving the money to a better paying account for the longer term.

I suppose many people will just leave the money in the one account though.

As for goodies....Natwest offer £250 worth of money-off vouchers and discount coupons (£500 if you invest additional money.) I am still waiting for my vouchers though and have phoned Natwest several times now!

My plan is to transfer the money to Britannia CTF fund once I get my vouchers from Natwest. Britannia seemed to get fairly good recommendations from previous posts on here. Britannia were also offering free single use cameras when the accounts first came out - don't know if they still are?

My advice is to go for freebies now but only if you know that you will be organised enough to transfer the money across to a better account for the longer term. It is your child's investment after all!