Bank account

7
Posted 12th Nov
Hi everyone!
I do want to open an bank account so all my little one 'child allowance' to go in that account and not to have the possibility to touch this money for 4-5-7 years ( or more ) ( and to gef some interest if is possible:)
Is there any bank who can do this?
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That's what banks do.....
7 Comments
That's what banks do.....
How about some premium bonds..your little one could potentially win a million every month ..my small one won 25 quid this month...pays for his nappies
hairycanary12/11/2019 21:49

How about some premium bonds..your little one could potentially win a …How about some premium bonds..your little one could potentially win a million every month ..my small one won 25 quid this month...pays for his nappies


So your little one pays for his own nappies when he's a little well off?
deeky12/11/2019 21:53

So your little one pays for his own nappies when he's a little well off?


He has no other expenses at the moment
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deleted2172605
Halifax kids monthly saver account gives 4.5% but only allows you to put in £100 a month. After a year, it funnels into a Kids saver account at 2% but it's not an "untouchable" account. You could invest in a child ISA with halifax at 3.6% too. Weigh up the terms and conditions and see which one is best for you.

My personal setup for my children is Halifax kids monthly saver at 4.5% funnelling into the 2% kids saver account after a year. And additional funds I save for them goes into a 1.5% marcus account in my name but for them. I tend not to use ISAs because of their low yield and often harsh terms.

My plan is by the time they are 18 there will be enough money in there for them to go to university or use it for a house. I plan to sit down with them when they're old enough and talk to them about money. They're not to waste it. Of course that money is theirs, but I don't want them paying off student loans for 14 years like I did.
deleted217260513/11/2019 01:41

Halifax kids monthly saver account gives 4.5% but only allows you to put …Halifax kids monthly saver account gives 4.5% but only allows you to put in £100 a month. After a year, it funnels into a Kids saver account at 2% but it's not an "untouchable" account. You could invest in a child ISA with halifax at 3.6% too. Weigh up the terms and conditions and see which one is best for you. My personal setup for my children is Halifax kids monthly saver at 4.5% funnelling into the 2% kids saver account after a year. And additional funds I save for them goes into a 1.5% marcus account in my name but for them. I tend not to use ISAs because of their low yield and often harsh terms. My plan is by the time they are 18 there will be enough money in there for them to go to university or use it for a house. I plan to sit down with them when they're old enough and talk to them about money. They're not to waste it. Of course that money is theirs, but I don't want them paying off student loans for 14 years like I did.


Brilliant! Thanks so much! I do have an idea what to search for. 2% isn't much but it's gonna build up in years and years isn't it?
This is exactly what we want to do...his allowance + a monthly ££ bit from us = give him a bit of support and have the opportunity to buy a house and live wherever he wants, not wherever he is 'forced by circumstances' like us...
Thanks again!
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