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    Chlid Trust Fund - £250.00 -- Best Deal, Cashback etc etc.. ???

    Hi All,

    Following the birth of our son, we have now been given the standard £250 Child trust fund cheque for us to deposit in a "bank"

    Does anyone have any details of the best account to open to deposit this ie..

    Asda are giving you a £25.00 gift voucher when you deposit and set up a £10.00 direct debit a month.

    Tesco Also have a simlair offer on too..

    Just wondering is any one knows of any better deals out there ??

    Cheers

    Rick

    17 Comments

    other people may have other views but I think they are crap - we stuck the £250 free money somewhere but didn't setup a regular payment as the child automatically gets the money when they are 18.

    You only seem to get any sort of bonus if you setup a regular payment.

    I'd prefer to see what my 18 year old turns out like before I trust them with a potentially large amount of cash!

    I am looking to invest one aswell, but agree with wort03. Not having them spending my savings for their future in the pub.

    On an unrelated matter, a PS3 Slim also costs £250.00......

    have great faith in your kids worto an pavers ...............

    What you get money for having kids these days:?

    have great faith in your kids worto an pavers ...............



    I have a lot of faith in my child - shes growing up quickly into a lovely little girl but that doesn't mean she'll be good enough with money when she's 18 to deal with a lump sum of cash.

    Each to thier own though - I'm not saying there is a right or wrong way to go about this just worth mentioning the other side of the coin.

    If my parents had given me say 10k when I was 18 I'd have probably gone on one or two wicked holidays - if they'd have given it to me when I was 22 I'd have bought a house instead of renting for 8 years before managing to buy.

    i had £40 mothercare vouchers with the childrens mutual i set up a direct debit of £10 a month waited for first month to go out and cancelled the direct debit.

    I am not a fond believer in these.

    Give it 10 years and these will be the next scandal where the money was invested poorly and there is now nothing left.

    I've had 1 for the baby but not done anything yet,it come in post other day.
    My daughters is worth about half it was when opened.

    I agree with most of the above too it just isnt worth setting up a monthly payment as the funds mostly take a fee each year wether the fund has done well or not, my little girl is nearly 6 and thanks to poor investment by the company and the stupid annual charges there is under £200 in there now.

    Best advise set up an account anywhere then set up a regular savers account to put your own money into then the banks will pay you interest each year rather than charging you for the privilidgeof holding an account

    ive got my daughters check comming soon, think i will open mine with asda and ive already opened another savings account with halifax which i put £10 a week in and then if i need to buy her anything then ive got some money set aside.

    chester123;7154473

    I am not a fond believer in these.Give it 10 years and these will be the … I am not a fond believer in these.Give it 10 years and these will be the next scandal where the money was invested poorly and there is now nothing left.



    you can put it in a normal savings account you dont have to invest it

    Original Poster

    Thanks for the info,

    Im just going to do some reading this evening in regards to the best account, or best short term bonus.

    Rick

    Banned

    What a pointless waste of taxpayers' money.

    My friend was looking at this recently,most banks have some sort of special account on offer

    subscribed, as we have a little one due! :thumbsup:
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