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    Childrens saving accounts

    As above as my sister is giving birth soon, so I want to open some sort of account and pay a sum of money into the account, for the babies use once its 16 or 18.

    Many thanks.

    5 Comments

    Your sister will be given a child trust fund voucher about 8 weeks after the birth for her to pay into an account, stakeholder, high interest etc, Then you could pay money into this if you wish. Either monthly or lump sum and this will be paid to the child on their 18th birthday.

    It will just be spent on alcohol.

    source: every friend that got money at 18 drank the lot (except for one who started taking cocaine)

    I toyed with the idea of opening a stakeholder account for my kid's trust fund but didnt and I think I made the correct descision looking at recent financial problems worldwide. I used RBS' childrens account.

    it will go on alcohol - since my 18th in jan ive spent more money in them 2 months than the other 17 years

    We opened a savings account and our childs trust fund with Abbey, they seem to have the best interest rate at the time,
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