Easiest bank accounts to open for children

[BigWellyLittleWelly]

We need to open two bank accounts for our two DC.

We also need to consider a more long term plan for them (DD1 is disabled and will probably requite long term care) in the form of a trust fund.

Any advice would be v welcome. Ideally I'd like to get the bank accounts set up this week as each girl has been given some generous money gifts this year.

Do you want savings accounts or pocket money accounts? Do they already have children's ISAs or CTF?

I opened a children's saving account with my bank (natwest). It's instant access but there's no tax on any interest. I ill they're 11 it has to have my name on it and I have to be with them to take money out. Once they're 11 then my name comes off and it is theirs.

It works for us as we aren't in a position to save money for them and they aren't likely to get any huge amounts of money.

Remember to ask the bank for the R85 forms to fill in so that they don't deduct tax from the interest. Not that there will be much interest at the moment, but nevertheless.

What about a Junior ISA for your DD? It will revert to her at 18, so there is that to take into consideration (if you feel that will be too young for her to have control).

Thank you for your replies - DH suggested a junior ISA so we will look into that - I want a bank account to some degree which anyone can pay into.

DD1 has a CTF but not DD2.

I have had a look on MSE and he has recommended a Halifax product which is 6% interest with money locked for a year - have to put £10-100 in a month by DD which is exactly what I want to do. As it is a branch account then we can also take down the £'s and p which are handed to our DDs each year by well meaning and generous relatives and move AC at the end of the year if we find a better product.

I was extremely lucky to have a financial whizz in our family who set up a trust fund - over time those funds matured and on my 25th birthday I was handed a cheque that went towards a deposit on a house. I would like to put DD2 in a similar position, DD1 will need a different fund as she will need it to provide an income rather than a lump sum.