Children's savings experience/advice

[primarynoodle]

Hi - am crap with savings and money understanding but would like to set up a decent saver for my dd (5 months).

The idea is we'll put £50 in every birthday/Christmas plus any birthday money etc she gets as she grows up so when she's 18 she'll have a minimum of £1800. where's best to put this? I opened a future saver with HSBC this morning but the interest rate is crap, the online advice is bamboozling me so any advice in layman terms from you experts?

Why on earth did you open an account with a rate of 0.25%? That is insulting even at the moment.

Close it again. You can get 3% for kids, even 4%. No point in junior cash ISA's at the moment. Plenty of options on moneysaving expert or others.

Keep a close eye on the rate as it will drop at some point, so you need to keep shifting money. Inflation is well over 2% and will go higher, Carney hates savers so it is difficult to stay ahead.

Check out metro bank. If you put something- even - £1, they will give you money!

Not much, interest only 1.25%. Can do better.

They give you £5 if you deposit even £1

IF you look on moneysavingexpert, there is a page dedicated to children's savings and rates.. worth a look!