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Setting up account for baby

5 replies

Cinnamon84 · 09/10/2016 10:32

I want to set up a savings account for my 8 week old son, I thought my partner and I could both put in maybe £10 a month.
Has anyone done this before and know which banks offer the best interest etc?

OP posts:
Bibs2014 · 09/10/2016 10:36

I have the Halifax Young Saver account for my son.

user1468321775 · 10/10/2016 07:40

It depends on whether you want to access the money or not. I have a Halifax Young Saver for my son which you can access - although you don't get a card to withdraw. He's also very fortunate to have a Clydesdale ISA too, set up by grandparents, but it doesn't mature till he's 10

Sarahwoods2000 · 10/10/2016 07:45

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melibu84 · 12/10/2016 18:04

We set up accounts with Halifax too, they had by far the best interest rate. I am the only one who can withdraw from it, so when our DS is older, he can't go crazy with the savings :)

BumWad · 16/10/2016 13:35

I think the Halifax Young Saver has the best interest rate the last time I checked on money saving expert.

But I just opened a Natwest one for ease as it's connected to my account when I do online banking etc. I opened an account for DS when he was around 4 months old we put in £45 a month and all gift money.

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