I’m with Lloyds so just opened a junior isa with them. I’ve also set up a wealthify account which is a stocks and shares one
So you need a junior ISA, it will be accessible at 18 to your child. The bank doesn't really matter as the rules are set by the government. Pick one reputable, high street bank, like Nationwide, Lloyd's...or investment company like Vanguard. Check management fees if any. You can use a comparator
We do Beanstalk junior stocks and shares ISA
Might be worth having a look on the Martin Lewis money website, some banks will have an incentive to join especially on childrens accounts
We have Beanstalk JISA stocks & shares. You can share a link to the account with friends & family too so they can pay directly in if they wanted to send Christmas/birthday money etc
I’ve got mine with Lloyds junior ISA and luckily we still have a local branch open!
Worth looking into a junior ISA with foresters, you can do a stocks and shares one, follow it online, set up monthly DD and also pay adhoc into it I.e for birthdays etc!
We’ve just opened one with Tesco bank
I’m with Halifax, Just opened it yesterday. Junior ISA where she won’t be able to touch the money until she’s turns 18. Xx
ISAs usually have to be reset every year to get the interest. You can get special accounts for kids that aren't accessible until 18 or whenever. Not sure what they're called. My parents did one for me with the post office. Go into your/a bank/building society and ask 😊
@Katie they are called Junior ISA
We have a junior stocks and shares ISA for our little one with AJ Bell It's worth doing your research and finding out whether you want a cash ISA or a stocks and shares ISA 😊
Ours is with Halifax but check out Martin Lewis page for up to date advice on accounts
You could also have a look at premium bonds as a good way to save for kids.. my mum and dad bought me some when I was born and then added to it each Christmas and birthday. It was lovely to get sent the odd cheque here and there when I won- a lovely surprise for a kid growing up. Martin Lewis has articles on premium bonds. When I was 17 I used the money for driving lessons and first car and car insurance etc.
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