Where did you put your child trust fund voucher?

[Gobbledigook]

Haven't the time to trawl through it all - so much work on but really must get the vouchers paid in.

I'm not very good at high risk so would be happy with a straightforward savings account.

What did you do?

PS - sorry if I don't come back straightaway - got to work, wash up, Big Brother....back later!

I put it in Asda one as I think they're all a huge con so thought I might as well get £25 vouchers out of it!!!

i heard that some banks charge you for the account... has anyone found that is true?

in a draw in the study waiting to be placed somewhere

oops weve had ours for ages and not put it anywhere yet. Whenis the deadline to put it in?

Asda, only to get the George voucher though!

Asda sounds a good plan!

Opened a Nationwide Stakeholder Trust thingie... got a good review in a newspaper article so just filled in the form and sent it off - took about 2 minutes. Phew!

is there a rush to do it now??

Nationwide 'cash' account.

Lilaclotus, I believe that they can charge if you invest in a 'share' account, which would be likely to deliver a better interest rate than a cash account. The account would then be withdrawn into a safer (cash?) account for last few yrs of vouchers life in case stock market went mad - so the risk is pretty small.

But since it's 'only' £250 and most 18 yr olds are just going to p**s it away, I figured it doesn't really matter. Any big £ for ds's would be spent by us on education or similar, not given to them at 18 to do what they want with. (I think child trust fund is a ludicrous use of public money - sorry, bah humbug)

oo have just done asda so its no longer in the study draw

nannyjo ds is valid for a year from recieving it. I just kept forgetting about it

I went for Foreign and Colonial Stakeholder recommended on the money saving expert site back in April. Current recommendations, pros & cons here

abbey....cash account

asda charge if u read the small print

asda said they charge 1.75% a year so will prob keep it there for a year then maybe transfer over..assuming u can do that..lol

Nationwide here too - just the normal one not the extra gamble one.

I've just been looking at this today = my understanding is that account providers can charge what rate they want except for the stakeholder where the government has set a limit on charges of 1.5% - presumably as this is the kind of account they want everyone to open.

Phatcat - thanks for the link! Very helpful in recommending a provider.

Are there gong to be tons of 18 year olds in 2023 going"what you gonna spend yr trust fund on??? a computer or drugs?" I put in the risky one just for the voucher and will open up another one for family and friends cash that only Miserable Mum can get her hands on and buy t-bar sandals for my dd when she is 18. She will hate me. Nevermind

have to agree with jamiesam

HSBC equity stakeholder for dd and F&C equity stakeholder for ds - both charge less than the maximum 1.5% amc

Thanks for the link phatcat. I still don't know what to do - soooo indecisive. Really annoyed that I've got vouchers for two children and not the other as well.

Agree with jamiesam too - it's rubbish - what we are just all going to have to fully fund university education so they think this is a good way to get us all saving for it? £250 makes very little difference and if you couldn't afford to save up before, giving you £250 doesn't suddenly mean you can afford to save now!

I'm erring on caution as well, in case dd ends up a drug addicted, problem rebellious teenager, I'm putting our savings for her in our name, so she gets it when we say!
But she can have her £277 invested, but the fees of 1.5% really pee me off
I mean if you get a very sluggish rate of growth and never contribute....
Well doubt dd could even buy an 8th of hash when she's 18 at that rate

I've put mine into Childrens Mutual. Recommended by an IFA

and before anyone asks, he didn't get commission, I sorted it out myself. Very straightforward.

What's this George voucher thing????