Best Savings Account with Standing Orders facility

welsbyc

On the subject of standing orders and children.....

I've opened a halifax Children's Regular Saver for my son. In previous years, I setup a standing order from his Natwest Young Saver account. Natwest now tell me they can't/won't do that (why they did before is a mystery).

So the question is, where can I setup a savings account in my son's name (with myself as trustee... or as joint account holder if necessary) which will allow the setting up of standing orders? If there isn't one, I will have to move money from his Halifax Save4It account, into my personal account and then back out to his Halifax Children's Regular Saver. This is a pain, but even more so given that HMRC will want evidence that it really was his money in the first place.

Any ideas? Thank you!

Catriona.

Mikeyorks

welsbyc wrote: »

Catriona.

I've always been a bit unclear on the options available when getting money out of the Save4it ... so am probably not going to be too helpful.

But ... one of the few Savings accounts that offer genuine SOs is the Halifax Websaver. The interest rate is currently far from magnificent .... but it's potentially a quick way of bouncing a transfer from Save4it ....> Websaver .....> Children's RS ...... as you can't do it direct? Assuming the first and last named accounts are essentially in your name ... and you can therefore add a Websaver to the Portfolio as a staging post in the transfer?

Speculator

YorkshireBoy wrote: »

And of course, by the time 18th July comes around (which would be 6 months if you opened the account when launched) they hope you've forgotten that the fall-back/go to rate is less than the WebSaver 'no card' option.

I named my Websaver with card a/c "18th July" so I don't forget.