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
Non-CTF Child Savings?
WiZeR
Posts: 14 Forumite
Hello
I have decided to take out a Stakeholder CTF with Britannia but to only invest a small amount. Not sure I want my daughter's full savings allocation to be given to her when she is 18.
So can I take out a savings account for her which I have more control over? Should I just open a regular savings account in my name and just give it to her when I see fit? Or is there a better way?
TIA
I have decided to take out a Stakeholder CTF with Britannia but to only invest a small amount. Not sure I want my daughter's full savings allocation to be given to her when she is 18.
So can I take out a savings account for her which I have more control over? Should I just open a regular savings account in my name and just give it to her when I see fit? Or is there a better way?
TIA
0
Comments
-
Hi wiZar,
We (my DH and I) have each opened a Halifax Childrens Regular Saver for our DS - max £100 pcm, 10% fixed-rate for one year then clears into Save4It account (5.8% currently).
Both accounts are in your child's name with you as trustee, complete R85 to get interest paid gross.
Sorted;)"Success is the ability to go from failure to failure without losing your enthusiasm" (Sir Winston Churchill)0 -
Except that the Halifax accounts cannot be held either in trust by you or in the child's name after the age of 16.
The Yorkshire BS One Day account is unusual in that the account can be held in trust by an adult until the age of 21 and the rate is better than the Save4it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.2K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards