UC & child’s bank account

[Elliesmummy1]

Just a bit of advise please
I claim UC and want to know if my UC can be affected with my 2 year olds child savers account
it’s with my bank and I have both accounts on my app
is there a limit to how much she can have in or not
as I want her to have 15k + plus when she’s 17 for driving lessons and a car but don’t want my money affected as I have nothing I live hand to mouth
Thankyou x

@CheshireCats you do know that the majority of people who receive UC work?

If you are living hand to mouth surely you will need it to get by?

So much misinformation on this thread as usual. Childrens savings is not counted and it’s irrelevant if it’s in an ISA or an account the parent can access for a child.

I'm absolutely not jealous of you. For many reasons.

@sittingonacornflake yes UC Is for working family’s :)

Being able to save is a luxury

Well you came here making claims that you're living hand to mouth and yet your child has everything they want and more. And now you don't want posters to comment on that? Are you aware how ridiculous you sound?

www.entitledto.co.uk/help/Deprivation-of-savings-and-other-capital-Universal-Credit

This is a really common fraud scenario when parents transfer money into their child’s bank account (regardless of the child’s age) in order to “not impact their UC”. Savings over £16k mean you’re not entitled and savings between £6k-£16k reduce your UC.

UC isn’t there to be used to create savings for your child unfortunately. They expect you to use your savings to survive.

Jealousy!

Why would anyone be jealous of someone bringing up a child 'hand to mouth'. That's the exact situation people don't want to find themselves in.

You're not living hand to mouth OP if you can afford to save £70 a month (to reack £15k by the age of 18) AND spoil your daughter.

In our tightest days/weeks/months I'd have jumped for joy at having an extra seventy quid, never mind thousands in the bank.

The ARE legitimate ways for accounts/trusts to be held for children eg in the case of the inheritance, that won't affect your entitlement to benefits but you should definitely research deprivation of assets first.

You can't win on MN OP. People want you to be in genuine poverty whilst also saying you should save for a rainy day and set your child up with everything. People want you to say that you're living hand to mouth whilst simultaneously spending it all on booze and fags. People on benefits who are able to save annoy them.
I work and have been on benefits whilst working and live frugally in order to save some money for my children. This is actually something encouraged by the government so that if something happens like my washing machine breaks I don't end up defaulting on my bills or going to a loan shark.

Honestly, you'd be far better off spending this money on giving your family financial security and improving your daughter's quality of life. Growing up in poverty will have a much more profound negative effect on her than the positive effect of receiving a cash boost at 18.

@restedbutexhausted none of this bears any relevance to the OP's question, which related to whether her child's savings would impact her UC payment. Unless I have misunderstood she is not asking for advice about whether she can afford to save for her child.

Would a grandparent be willing to open an account in your daughters name ? Then pay in whatever you want to save. Any other way is going to affect UC

But if you expect not to be judged for what is clearly WILD behaviour then maybe you shouldn't mention it...

Once again, the judgements start. I was lucky in that I earned enough to save for my daughters to go to Uni, help them towards house deposits and weddings. The poor seem to get castigated if they want to do the same thing! So the OPs child would not have financial support when entering adulthood, pouting them again at a financial disadvantage to their peers with better off parents.
But hey, who gives a flying fuck about equality eh?

OP, read this about Junior ISAs. And well done for thinking about your child’s financial future x
www.moneysavingexpert.com/savings/junior-isa/

This is so true and boils my blood!

@restedbutexhausted what wild behaviour?

Yes just looking into isa so that’s what’s happening
isa account so I can save the amount I need to without breaking the law :) thanks all I won’t be back
Sunday roast calling…. Yummy

Coming on here and trying to say you're living hand to mouth and in the next sentence saying your child is spoilt. Don't be dense.

There are people who are genuinely struggling.

OP didn't need to mention any of the above at all.

@restedbutexhausted well aren't you a delight!

The OP isn't looking to save the money in case her washing machine breaks, that would be very sensible. She wants to lock it away until her DD is 18, which, when you are living 'hand to mouth' is a bit daft really.

This is what I was trying to say, but you say it rather better.

Yes AFAIK children's savings such as you describe are tsken into account when calculating any benefits. I agree with this policy.