Children's bank account - any recommendations?

[barristermum]

I need an account for 14 month old daughter to pay in cheques made out to her for presents before then transferring them into her account. Anyone got any recommendations for ones with incentives or whatever - think she's probably a bit young for any special marketing to her yet, tho' suppose it could always be kept for later....

I meant transferring into her child trust fund. Oops.

I meant transferring into her child trust fund. Oops.

Oh good grief - can you tell I don't do this often?!

I opened Post Office Investment Accounts for my DCs when they were little but you have to give a months notice to get it out. Don't know if that is what you are after - I thought it had a better rate of interest???

Thanks LLS - I want something really for instant transfer but if I'm not organised enough a decent interest rate would be better.

are the cheques already made out to you DD? If not I would ask to have them made out to you and use your own account if you only need to do a quick transfer.

I suppose the easiest option is to ask your bank about their accounts.

Alas - people have assumed greater independence than I would have imagined and made them out to her!

oh gawd - some people? I would have thought it was maybe a slightly dangerous assumption that all children have their own bank accounts. I have been asked before and then given the chance to get cheque paid to me so I can deal with it.

DOH

Ours have theirs with Nationwide.
they seem to change all the time but could read here: MSE site

That was really helpful, thanks horsemadgal.

I set up a childrens saver account last year with the Halifax when they offered 10% AER, think it is only 8% now.

www.halifax.co.uk/savings/children.asp

Mine are with Halifax too. Although can you not just pay the cheques straight into the CTF account? I do with ours.