Do you have questions on children's savings (how to do it or best deals) or switching bank accounts? I'm covering both in my podcast tomorrow. So post questions here and the producers will collate them to read out / cover in the pod.
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It would be lovely if you could have a discussion on disability specifically. For example… setting up wills/trust funds to provision for disabled children. Managing PIP if you want to put it by for the children etc.
Well done. It's an important topic to cover. Especially when you look at what has happened with Child Trust Funds and children reaching 18 without mental capacity to deal with their own affairs.
What is the best thing to do for a child going abroad with their money? Preferably a card they can use that doesn’t cost the earth in fees and has a good exchange rate.
I’m a Grandma who would like to start savings accounts for my Grandkids. But cannot get hold of their birth certificate as son wants to control these savings. I’m not happy with that. What can I do?
Seconded this. I don’t have the time/branch nearby to go in to set up an account for my toddler. Closing them again is also a pain since that also requires a branch visit (Halifax).
Maybe not Martin’s remit but why are banks living in the dark age when it comes to setting up children’s accounts?
Will have to tune in to that one. We sadly lost my mum a couple of years ago and she gifted my daughter money in her will and just looking for the best options to invest till she’s old enough to access it.
Mentioning bank accounts would be good as I don't understand why people would have a paid for children's acc when one like natwest, which my children have is free(as i have an acc) and seems to have all the functions needed.
Heard worrying reports of trusts set up for autistic grandchildren being difficult to access in adulthood & would appreciate advice on best ones - thank you.
I just opened a Junior ISA (for stocks not cash), and the mix between free accounts (Fidelity) versus the cost per share trade could do with some analysis. Investing £25 monthly with a £7.50 trade fee makes no sense
Investments/savings for children who have inherited money. I found it really hard to find a fixed rate account I could open for my 2 children with a good lump sum. Most want them to be 16 or 18+
Junior ISAs are a start. Or look at some of the children's regular savers on offer from building societies. I'm guessing you do not want them to have access until at least 16. It also depends on your attitude to risk.
There seems to be a limited number of kids savings accounts that start at birth, most seemed to have a minimum age of 7. We went with Halifax with the intent of opening their kids regular saver and drip feeding from one to the other - but the RS application was rejected with no reason given.
I have a couple of child accounts with Halifax, where money is paid into a Monthly account, then each year moved to a Yearly account with a lower rate. What is the best account to use to regularly save each month for my child?
Yes, how do I get NS&I to give me the £1,000 they owe me from when I turned 18? They claim it all went into a big pot and they have no idea what happened to it
From what I can see, options are limited for under 18's when they have significant funds given to them. Premium Bonds is one option we have gone for, but I would be interested in the best alternatives when there are significant amounts involved.
Our IFA advised to let our son handle savings for our future grandchild, but us future grandparents could invest in their pension. Wise or not, and if so anything to look out for?
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My eldest 2 was a breeze, both got cards and savings all online with an app. All free
And I don’t want to pay a monthly fee! Just want an app based savings account…
Maybe not Martin’s remit but why are banks living in the dark age when it comes to setting up children’s accounts?
Go Henry-rip off.
Starling-free, debit cards, app, I can withdraw their money easily if they lose card👌
(Given interest rates for debt are higher than savings?)