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Original poster

Child's bank

18 replies

singlemumhelp · 18/11/2022 07:23

Hello,
So basically I hve now been awarded DLA for my son which means in total i from them, universal credit and caters I will be getting a extra £1100 a month.

I am currently in a IVA due to my ex partner which means all income is used to assess what I pay. But I only have 2 years left. I have rung them and said this money is for him
And they said they can offset it as it's child DLA. Anyways I am opening a bank account for this all to be transferred into and spend as I don't need it towards my bills. But for extra stuff for him, holidays for him etc. he is only 5 though so I need a good bank that I can also have a debit card for potentially.

Go Henry I know I could say he was 6 not 5 as they don't formally check but do worry about this much money going in there without using them myself. Has anyone used them? Or had anyone a natwest account that can tell me how good the kids accounts are? Eventually when I find a bigger house as he needs his own room then we will use the extra Uc side towards this, but for now I want him to be treated to things and get the stuff he needs as he deserves I

OP posts:

Alarae · 18/11/2022 07:26

Why can't you open another account with a different bank? IVA said they won't take it, so is there any other reason it shouldn't be in your name?

dementedpixie · 18/11/2022 07:34

If you're putting it in his name then look at a savings account. He won't get an account with a debit card until age 11.

Go Henry is not a bank account, it's a prepaid card you top up. Plus you need to pay a fee for it so I wouldn't pick that.

Moneysavingexpert website has a section about child savings accounts so maybe look there

LubaLuca · 18/11/2022 07:51

Think about what will be easy for you to access as well. Children's accounts often require you to go into branch to operate them, so think about convenience for you.

I agree that you won't get a debit card account and you shouldn't need one for occasional spends. Just pick a savings account with easy access (not bonds or regular savers).

Iwritethissittinginthekitchensink · 18/11/2022 07:56

What pp said first.

Go Henry are good but they don’t pay any interest.

They do give you offers (that you can find from other places like cereal boxes!) like discounts off attractions, Legoland, that kind of thing.

They do verify your details electronically but not your son’s.

They have limits for wage payments being made directly into the account (I think your son’s payment might fall under that category?) -
uk.community.gohenry.com/s/article/gb-Can-my-child-have-their-wages-paid-into-their-gohenry-account

The other way to do it is to get the payments made to your account and then you set up a standing order to pay to the Go Henry account.

gogohmm · 18/11/2022 07:59

Carers and uc are for you for caring for your son, they can't touch the dla though. Childrens accounts are available at banks but no debit card until 11, you can easily switch the money from kids accounts linked to yours

dementedpixie · 18/11/2022 08:00

Don't pick Go Henry - what a waste of money if they won't actually use the card. Plus he's too young anyway. It's not a bank account.

Pick a savings account where you might earn some interest on the money.

AriettyHomily · 18/11/2022 08:01

I'd open an account with Chase, super easy and you get 1% cash back for the first year

nannynick · 18/11/2022 08:01

Hyperjar perhaps. That could keep the money separate. Does not sound that the money has to be in his name. The money is coming to you on his behalf, going into your account which the IVA have said they will ignore. So moving that money elsewhere could go to a card that is in your name.

bigbluebus · 18/11/2022 08:17

I just opened a separate current account for DDs DLA in my name but designated as re DD. If UC have said they disregard your DCs DLA then surely it doesn't matter if it's in an account in your name (DWP expect to pay it to parents until the child turns 16) it's just about you wanting to keep it separate to ensure you designate the money on things for your child - although this is not entirely necessary as keeping a roof over their heads and the heating on also benefits them. (Disclaimer- I wasn't on UC)

YomAsalYomBasal · 18/11/2022 08:40

I wouldnt put much at all into a Go Henry or HyperJar account. Both have history of losing money during transactions. The money would still be "yours" anyway so you might as well just set up a separate account in your name?
Don't let it build up too much wherever it is as it will count as your savings and therefore be taken into account for UC etc.

Original poster

singlemumhelp · 18/11/2022 10:44

gogohmm · 18/11/2022 07:59

I understand the carers element is for me so they could touch that which is understandable however the disabled child's
Element I want to keep for him and they have said they can disregard this. I have had all the back oyment finally through so at the moment I using it to buy the things he has fixed like a Hoover and his iPad. It's so complicated I hate it

OP posts:

actualnamechange · 18/11/2022 10:47

Think very carefully before saving it all for him. This could be the difference between him being able to access benefits in the future when he needs them.

gruffalossoldier · 18/11/2022 10:51

Hi OP

I already had a savings account opened for DS when he was awarded DLA so asked DLA to pay directly in to his savings account. I'm
Just letting the balance build up and withdrawing as and when he needs something. As another PP said a large amount of savings could impact his ability to claim means tested benefits in the future. The rule of thumb is that £16000 savings or over would mean no means tested benefits so bare that in mind.

Original poster

singlemumhelp · 18/11/2022 11:16

The funds will get spent over the time as he's foreve breaking iPads and TVs and things, and with bowel and bladder being involved that costs me; extra heating for him too :) and the branded food he likes, thank you for your help; irs all a minefield

OP posts:

Mumneedshelp82 · 12/12/2022 19:06

hi I’m new here and am wondering if you get disability element and DLA is that all classed as the child’s and Iva can’t touch This??

Original poster

singlemumhelp · 13/12/2022 11:16

@Mumneedshelp82 I think it's dependent on the Iva.
I'm with mccambridge Duffy and they told me that the DLA is disregarded as it's for the child and his needs.

She did say the disability element on uc should be disregarded too. I have just sent off all they wanted and proof of what I get and just said what I pay out for him and why. I said my dad has been pying it until my Iva came through

OP posts:

Mumneedshelp82 · 13/12/2022 11:27

Thanks. Although for me I’m not sure how I can prove everything that goes out as he’s a teenager so the money is to get him out and about. It’s all just so confusing but I have emailed my IVA and let them know.

Original poster

singlemumhelp · 13/12/2022 14:47

@Mumneedshelp82
Do you have to buy extra thungs like specific food brands or specific items, as all that is proof on receipts.

If you need jr for days out to help regulate him and keep him calm etc then send the receipts.

Does the heating have to stay on for him due to health needs? As yiu can say yiu have to pu more for that.

Petrol because he can't walk/won't walk again say it's to go towards that.

I've explained for my son it's all stuff he needs due to this. So he has to have the heating on, extra Tumble dryer as he soils his clothes more and hates being dirty xx

OP posts:

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