best kids' savings accounts?

[yogabird]

i should open them on each,
i should have done it long ago
but i didn't
need to do it
but which?

please advise o wise money people

{{http://www.moneysupermarket.com/savings/ This is a good place to look]]

My kids accounts are at the same bank as mine. The interest is okay, probably not the best, but its easy because if they get birthday money or cheques I can sort it online keep the cash and transfer. As they get older and the amount is more that a few pounds I guess I'll shop around but after procrastinating for way to long I figured better to do something easy than nothing at all.

Depends how much for IYKWIM. Halifax do a regular saving account which has really good interest if you put in an ammount each month.

However if this is far LONG TERM SAVINGS a share based account would pay more in teh loing run, so I have switched mine to an isa in my name for them IYKWIM.

I still keep an instant access savings account with halifax and nationwide for the b'day ££ or whatever, but if there is a decent amount I can transfer it across

Thanks everyone. Crunchie - should know, i know but what are isa's? i know what it stands for but after that, you have me

To have an isa you need to be 18yrs old (im pretty sure anyway) - you can save £3k per annum either regularly or in lump sum in any tax year for a cash isa tax free and a further £4k or so in a stocks and shares based isa. In the cash isa you can gain access t your money whenever you want but be aware if you put in £3k say and withdraw it then want to put in some more withing the same tax yr you cnt - once you have invested the limit in total you cannot top it up despite any withdrawals - having said that its a good way of saving surplus cash that you might need access to and its tax free - with the stocks and shares element you dont really want to be encashing it for at least 5 yrs or so due to the nature of share values within the investment constantly changing Hope this helps - Google Isas for info and ring your bank theyll be happy to discuss them with you just dont rush into the first one they offer shop around or see an IFA (independent financial adviser)

yes, I've got the 10% one at Halifax for dd, it seems to be pretty good.