Opening a Child Trust Fund account.

[nickilubs]

Where do I open it too? Do I just got to the bank and ask them to open it for me under Ivys name?

 

[soverign]

I didn't really have a clue what to do! I went to nationwide in the end and they gave me this big pack to fill out and lots of information in it. I just attached my voucher to it and posted it back to them. Apparently its all set up!

 

[Lou]

Isaac's is with the Halifax. He has lost about £70 on it already though You can't put it in a normal current account. I can't remember the ins and outs, ring around on go online hun

 

[charlotte_]

tesc give you clubcard points for setting one up with them, and even more if you set up a direct debit at the same time!

 

[valentine]

Where do I open it too? Do I just got to the bank and ask them to open it for me under Ivys name?

You need your CTF voucher that was sent to you after you applied for Child Benefit.

Once you have this, if I was you, I'd do some further research into what account you think will work well for you - there are 3 different kinds of account - clicky.

Once you have chosen what type of account you want, you can look into who offers them, who you think will look after her money vs. how much they will offer as an incentive! I went for Children's Mutual in the end for DD's stakeholder account as I had done my research and loved the fact they offered 30 pounds Mothercare vouchers, they also gave us another 20 pounds when DD turned one and we upped our monthly DD into the account by 5 pounds a month.

Valentine Xxx

 

[nickilubs]

I really just want one that will look after her money I don't want it to go anywhere that it might be at risk of loosing out. I just want one like a current account that she cant access till shes 18, I don't mind if she doesn't earn interest as long as the money that is paid in stays in till she needs it. Could any one advise? Things like this just cut straight through me. Thanks

 

[Lou]

Click on valentines link hun

 

[valentine]

I really just want one that will look after her money I don't want it to go anywhere that it might be at risk of loosing out. I just want one like a current account that she cant access till shes 18, I don't mind if she doesn't earn interest as long as the money that is paid in stays in till she needs it. Could any one advise? Things like this just cut straight through me. Thanks

If you want an account with no risk to money, but will NOT get any bigger unless you put payments into it (unlike others which can go up and down depending on stock market performance), then choose a SAVINGS ACCOUNT - here is the info you need, clicky.

Valentine Xxx

 

[Lou]

Wish we'd gone for savings

 

[valentine]

Wish we'd gone for savings

Ach, don't worry Lou, we're the same. I'll bet in a few years everything will have turned around and there will be loads of cash in there. 15/16 years is a long long time away.

Xxx

 

[Hazel]

Wish we'd gone for savings

Ach, don't worry Lou, we're the same. I'll bet in a few years everything will have turned around and there will be loads of cash in there. 15/16 years is a long long time away.

Xxx

A lot can happen to the money in shares by the time LO is 18. There will also be another payment at 7 and they are talking about another at 12 but that's not definite yet. I just opened one with my bank and that invests in shares. I will be sorting out another account though for her that is a saving account for any birthday/xmas money and I can pay lump sums in for her and that is "safe". Not sure where yet though.

 

[Lou]

Yeah thanks, feel bad though seeing as its lost money but it wasn't our money as such so not so bad I suppose