Dear Parents,
Need your advise.
I have a 6 years old child who is receiving DLA and we are also receiving UC. Child's DLA is coming in our joint account. We are spending on child activities from DLA money and from my salary and saving as well. We searched with different banks for a 6 years child account which can be used regularly, for savings and which can be opened on child's name but unfortunately no bank is offering this account except the savings account which we cannot touch until the child turns 18 and once he turns 18 and cannot manage his account by himself then we have to get court order, pay fee to court, solicitor and etc so we decided not to open a saving account which will make more trouble in the future.
The UC rules says that DLA won't affect UC and any savings needs to be on child name.
My main question that is our UC going to be affected due to child's DLA savings over 6k. Since the account is on our name so will it be considered as savings?