Child Trust Fund

[x-kirsty-x]

I know you have 12 months to put your child's voucher into an account of your choice but I actually forgot to sort Ryan's out

So now they've written to me saying they've put it into somewhere for me but I don't like the sound of it cos it's a stakeholder one?

So can I change it or is he stuck with that one for good now?

Oh, and also, how much does everyone pay into their child's account each month/year?

 

[Lola's Mummy]

I don't know if you can change it or not hun but we haven't put any extra money into Lola's trust fund account.

Me and OH have set her up separate savings accounts and we each put £10 a month away for her. Any other money that she gets from family, xmas, birthdays etc also goes in the savings accounts. We're going to give her it all when she 18/21, When we know she won't waste it

We got a letter through the other week about her trust fund account and the money in there has actually gone down by about £20

 

[sea-fairy]

change it, there was a thread about it on here about them morning, Id move it now before they take any more from it

 

[jennywren]

Im pretty sure you can still change it hun!

We dont add to Orans he has a seperate account with high interest

 

[Sherlock]

The Child Trust Fund website says this

Q. HM Revenue & Customs has opened an account for my child and I’m not happy with it. What can I do?
A. You can become the registered contact for the account by contacting the provider, and you can then change to a different account with the same provider, or with a new provider. If you want to transfer to a new provider you need to contact that provider and they will arrange for transfer of the account.

http://www.childtrustfund.gov.uk/templa ... id=1265#q7

 

[fran_23]

once they send you the letter saying where they have put it and the details you can move it to where you want.
This kind of happened to me- i put his in Lloyds and they wrote to me saying they were about to stop
doing the trustfunds and that it would get moved somewhere else! I got a letter saying where it had been placed and
i am going to switch it now.

 

[maybebaby]

I was rubbish too and let them invest it for me, they've put it in a Nottingham Friendly Stakeholder account which I'm more than happy with because I was going to go high risk with it anyway - as far as I'm concerned it's free money and I'm not adding anything to it because I don't want him to suddenly get a huge lump sum of money when he's 18. Most 18 year olds I know would just waste it (I know there are exceptions so please don't take that personally if you are 18). Any money we save for him will be put in a seperate account that we control and can choose where and when he gets the money.