Kids savings

debtdenial · 9 April 2018 at 9:24PM

Hi, we have 4 kids accounts with our local credit union but they have had no interest on them in 7 years. Should I take the money out and open savings accounts instead or ISA's? Which ones would be best given that 2 of my kids received the child trust fund when they were born.

Thanks for any help
Deirdre

xylophone · 9 April 2018 at 10:17PM

It is possible to transfer CTF to JISA.

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html

you may transfer in junior ISA savings or Child Trust Fund savings held with another provider

https://www.skintedmintedmum.co.uk/minted-blog/how-to-transfer-a-child-trust-fund-ctf-to-jisa-with-a-double-scoop-of-tax-allowance.html

https://www.gov.uk/junior-individual-savings-accounts

Dox · 10 April 2018 at 10:16AM

Click on the 'banking and saving' tab at the top of the page and follow the link for children's savings for more help/info.

Kids savings

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