Ipswitch building society (child trust fund)

ELLA

Sorry if there is any information about this already, but after seeing martin on the news the other day he mentioned the above bank to put the child trust fund voucher.

I have just had my pack come through the door and now Im confused??
All I want to do is put the voucher in an account and let it grow, I dont want to add to it just simply leave it.
My pack includes 4 forms

1-BOUNUS BUILDER TRUST FUND
2-BOUNUS BUILDER TRUST FUND ADDITIONAL GIFT FORM
3-STAKEHOLDER CHILD TRUST FUND
4-STAKEHOLDER CHILD TRUST FUND ADDITIONAL GIFT FORM
Im just confused now as to which one I fill out, any idea's please.

ReportInvestor

Hi Ella,

Ipswich is not a bank, it is a very small, local mutually owned building society (the 36th / 63 in size) with assets of only £340m. It's chief executive has been with the company for 37 years, and joined shortly after he left school at 16. If it remains in its current form as an independent mutual by the time your offspring reaches 18, I shall eat my virtual hat .

That's no reason not to go ahead, BTW. The 6% tax free with no strings is a great deal at the moment.

You don't want the Stakeholder accounts (based on the stock market) if you just want to open a simple savings account.

So Item 1 - Bonus Builder Trust Fund - looks to be the right form for your requirements.

Nick_C_4

Ella

The difference between the Bonus Builder Trust Fund form and the Additional Gift Form will probably be that you need to fill in the former to open the CTF with the voucher, and the latter if you intend to add more of your own money. You don't have to do this now if you don't want to - you can add lump sums or start regular contributions anytime (as long as you don't go over £1200 in any birthday year).

Nick.