trust fund-

[fran_23]

I just got a statement from Haydens child trust fund and he has £461 in there-
I don't quite know how- as i have not put all his birthday money and stuff in there i opened him
a seperate account for that so he can have access to some money before he is 18!
No one has put any money in there i just opened it with his £250 voucher and only i have the details- how odd!!

 

[sea-fairy]

they recieve another amount around there first birthday (or not long after you first open it, I cant remeber which!) from the goverment then after thats its up to you to pay stuff in!!

 

[foxymum]

wow! thats a lot of interest no i wonder how its gone up to that then?
Louie got a statement from his child trust fund the other day & i didnt even think to open it! perhaps i should then!

 

[fran_23]

ah i see- yeah just read it and it says a reciept of anoher 250 in january- still why do they take money off?
I'm moving it to another bank!!

 

[foxymum]

they recieve another amount around there first birthday (or not long after you first open it, I cant remeber which!) from the goverment then after thats its up to you to pay stuff in!!

oh i didnt know that! am going to dig out Louies statement later then

 

[sea-fairy]

I dont know why they take some off

the account I have is with ipswich building soiciety (sp)

http://www.ibs.co.uk/

they have the higest interest rate and according to a thing I watched on TV a couple years back the best company to have your child trust fund with,

 

[foxymum]

Louies is with the Nationwide

 

[fran_23]

cool i'm moving it- his is with Healthy investment-I actually opened it with Lloyeds but
they stopped doing it in the process or something so it got moved without my choosing- cheek!!

 

[purple13]

it depends which type of trust fund it is - some (shareholder-type) you have to pay to manage.

i've got the britannia one as recommended by martin lewis

 

[fran_23]

yeah it is a shareholder one! I should have looked more carefully at where they moved it to and changed it quicker!!

 

[sea-fairy]

those shareholder ones annoy me, yes the child could end up with a lot more then they started, but what if suddenly they have nothing?

I personally think its wrong to gamble with a childs money, this is there future, save it, and get interest on it, then they wont be raiding your pockets for money when they are older!!!!!