Best provider to open a child trust fund with??

5 replies
Found 6th Aug 2010
Can anybody recommend a decent provider with a good interest rate to invest our £250 voucher with?

We're looking to open either a stakeholder or savings type of account and investing £10.00 per month.

Any good offers, decent length of time with a good interest rate or free gift card etc...

Thanks in advance

  1. Misc
Groups
  1. Misc
5 Comments

i opened one with childrens mutual and got £30 mothercare vouchers, they also do a cashback site so if you do any shopping on certain sites you can get the cashback paid into the trust fund. after a few months of paying i cancelled the direct debit and just opened a halifax savings account for my daughter as trust funds can lose money, so now i just pay into the savings account and dont have the worry of losing any money in the future.

Banned

as pink ka has said, maybe better to invest the £10 per month seprately to the trust fund

Original Poster

But the Child trust fund has 3 seperate types of account, shares, stakeholder and savings so not all of them you can lose money on. The Shares on is the most risky with less rules to stop you losing money than the stakeholder one. The stakeholder one you can lose money on but with rules and regulations to help protect you better and the savings one where you just get back what you paid in plus interest so no risk with that one.

the main issue I had with the trust fund was the child automatically getting the money when they are 18 - I may be being a bit of a control freak but I'd prefer to decide when my children are sane enough to get a large sum of money!

Started with Halifax our bank but now moved them to Yorkshire BS on advice from MSE. Best rate around but no intro offers.
Post a comment
Avatar
@
    Text
    Top Discussions
    1. Mobile WiFi calling?11
    2. Can you improve my PC build?44
    3. Tomtop Xiaomi Mi A1 deal removed432
    4. Driving anxiety.2226

    See more discussions