| Archive for Downsizer For an ethical approach to consumption |
| Nick |
Kids' bank accounts.I've got some money to invest for my kids (just a couple of birthday cheques, made out to them) and they've not got bank accounts. When I was a kid I had an Abbey National account, with a passbook and Mickey Mouse tat everywhere. I could access it, once I was 16.They're getting more and more cheques, as they become harder to buy for for aging aunts and the like, so this problem will get worse. Are there still kids' accounts out there, and does anyone have any suggestions for good/bad ones? |
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| JB |
Most banks still do kids accounts, mainly as deposit accounts, principally because it has a tax implication for the interest. Couldn't give you any specific recommendations though.
It seems a good way to get them aware of the concept of saving though. |
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| Nick |
Aye, it sorts out various birds with a single stone. | ||
| Treacodactyl |
This might help: http://www.moneysavingexpert.com/savings/child-savings-tax-free
I thought there must be a use for them. |
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| Nick |
Great link, thanks. Off to the High Street. | ||
| Fee |
Just reminded me of my Griffin Savers account with Midland Bank, and then there were the Natwest pigs, where you collected all the money banks as you got more money in your account.
I had this one, bought at a car boot sale for me as a pressie IIRC: 
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| Nick |
Weeeeeeeeeeeeeeeee are the wonderful Nat West Pigs,
and beautiful porcelain pigs. |
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| Rob R |
I always had a National Savings High Interest Account, broke into it five years ago to help pay for the farm & again this year to help pay for the office. | ||
| VSS |
Mine have all got Halifax "save 4 it" accounts.
No idea if they are better or worse than all the others - just convenient if we all bank in the same place. |
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| VSS |
Mine have all got Halifax "save 4 it" accounts.
No idea if they are better or worse than all the others - just convenient if we all bank in the same place. |
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| Cathryn |
Principality, for why? Great red dragon money box! | ||
| alisjs |
quite tempted by that dragon money box (Dylan apparently!)........might get an account for my daughter! Would that count as a xmas present d'you think?! 
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| Nick |
Perhaps, if it came with some money in it. | ||
| dpack |
i need to store a few quid for the twins until they are 21so i recon i need to look at this as well | ||
| alisjs |
I'm putting real money in the account and choccy coins in the dragon! | ||
| Sarah D |
Just starting out on the bank account with Bean; she would like HSBC; second choice, as Co-op deems you have to be 18 to open an account. She just needs the basic account, plus a cash card. Up until now, all birthdya cheques have gone into their EBS account, over which I have control, so it's a form of saving, and they can't touch it until they are 16 I think, of their own accord. | ||
| Marionb |
I've put money away in savings accounts for my sons, they dont know about this money.
Even though elder son is nearly 20 he still doesnt know about it as if he had it now he would just spend the lot on his car or booze or something senseless. I intend to let him have the money when he really needs it, probably when he gets a house of his own. |
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| Sarah D |
We have a little invested for our two in a policy type thing, that will pay out when they're 18. It'll be theirs to do with what they wish, though, up to them. |