to give child control of savings or keep control as parent?

[fundornottofund]

My DC (13) has a child trust fund, the ones that were set up by the government with a payment given in babyhood when they were born (I know this has since changed). It currently has about £2000 in there, mainly a gift from grandparents. It is now earning 4% interest tax free.
We moved some years back to another country in Europe. We have saved an amount each month towards college in order to have an amount put by when DC is 18. We save around £120 per month but the interest rate is very low at 1.5% and there aren't really any alternatives without then being liable for tax.
Since the child trust fund interest rate is so much better, I'm considering moving the funds in there (about a further £15k plus an additional £1500 per year until 18).
This all makes absolute financial sense with the big BUT that the money would all be in DC's name at 18. In the current set up, everything apart from the £2000 is in our name as parents. This means if DC is a complete idiot at 18, we can hold onto the money and ensure it is used for something sensible. On the other hand, DC genuinely seems like a sensible kid and it's hard to imagine them doing something reckless with it.
Any thoughts? It seems by transferring it we could accumulate thousands more in interest so I feel I have to really consider it.

That is tricky, my DC have savings accounts in their names that e.g. grandparent Christmas money goes into but I regularly mention to DS1 that 'it's for sensible things like university or driving lessons'. Eldest is only 7.5 though so I've got a while to see how sensible he'll end up!

I agree with everyone saying to start mentioning things/talking about finances now!

It doesn’t matter how much you educate them. It only takes one dodgy / controlling relationship at 18 and that money is gone.

I would never ever save in my child’s name. We will give them a lot of support but it will be targeted and appropriate. They also won’t know about it at 18!