Babies and Saving Accounts

[Zoe1979]

Hiya,

I was wondering if anyone could help me at all, as I'm trying to put together a surprise for a friend, who's due to give birth mid November. I (alongside other friends) were hoping to put together a trust bond, ISA or bank account for the baby, but I've hit several issues concerning opening the account.

1. The account can only be opened by a parent, guardian or family member
2. I need a birth certificate for the child to be ... hence no longer making it a surprise
3. Credit checks
4. My name - which I don't mind, but I had hoped to put it in the mother and fathers name
5. Fraud and money laundering

The only two options I have left are the PO Junior ISA or Nationwide Smart Account, but these also have the same issues as stated above.
Friends have suggested putting together some money, suggesting an account and putting it into a piggy bank as a gift.

I just want to do something with more permanency and I know my friends (the - parents - to - be) have a lot of items already, but this idea would cover future b'days and Christmases.

I've looked online at various government initiatives, national savings, Which? magazine and others.

If anyone has any advice I'd really appreciate it Thank you

 

[VikkiR]

Write a cheque in the baby's name, that way they can only cash it in an account x

 

[Zazu]

Can you buy premium bonds as a gift? I'm not sure but maybe something to look into? X

 

[Lolly85x]

The premium bonds is a good idea x

 

[JJ Mum]

Ha Zazu! I was just going to say premium bonds! I still have £15 of them I got given as a child, mever did win, but minimum you can buy I believe nowadays is £100

I would get leaflets for a baby cash isa account and then add a chq or notes in a piggy bank , that would look really nice

What a lovely friend you are.

 

[l_maclean]

At christening we got money put in with a form about buying the premium bonds, so we've bought them as its what the gifted obviously wanted


On my iPhone - so cant see tickers

 

[Zazu]

Ha Zazu! I was just going to say premium bonds! I still have £15 of them I got given as a child, mever did win, but minimum you can buy I believe nowadays is £100

I would get leaflets for a baby cash isa account and then add a chq or notes in a piggy bank , that would look really nice

What a lovely friend you are.

I've still got £100 from when I was little, I won £50 once

 

[siouxie]

I've got premium bonds to I won 100 once. The state of interest atm u would be better off with premium bonds

 

[Gayle30]

Martin Lewis said something about premium bonds recently, which spurred my oh to buy £700 worth for our baby with the money she got given. You can buy £100 bundles in the post office but if u do it online you can buy £50. Its quite nice knowing that she is always entered into the draw but at any time she can get the money back out. We haven't set up a savings account, just put all her gifts of cash into that or in a money bank and bought what she needed. Xx

Sent from my BlackBerry using Tapatalk-its rubbish tho so can't see tickers or upload pics!