Best Bank/BS to open savings account?

Discussion in 'Baby Club' started by hodbert, Jan 26, 2011.

  1. hodbert

    hodbert Well-Known Member

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    This is really for the UK ladies. Holly was given some money when she was born and we wanted to put it into a savings account which we can keep paying money into. Am having a look on Money Savings Expert, but if anyone has any advice as to the best place to put it, it would be appreciated! :thumbup:
     
  2. Pookie 73

    Pookie 73 Well-Known Member

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    Halifax BS have got a good childrens account at the moment, 6% for the first year and you can pay in £100 per month :flower:
     
  3. hodbert

    hodbert Well-Known Member

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    Thanks will check it out
     
  4. sjminimac

    sjminimac Well-Known Member

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    ybs have the one day account, good rate and instant access x
     
  5. ~Mummy~

    ~Mummy~ Expecting #2!!

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    I'm also looking at savings accounts and what I found so far is that Im better off opening up a ISA account for the first 5200 (I think) as it would be tax free then.

    It all gives me a headache tbh, so I will be keeping an eye on this thread.

    Money saving expert has been really helpful as well.
     
  6. sjminimac

    sjminimac Well-Known Member

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    that's right about ISAs but also remember that children don't pay tax so you can open one as trustee for your child and sign an r85 tax exemption certificate x
     
  7. ~Mummy~

    ~Mummy~ Expecting #2!!

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    Would we still have access to it as and when? Or is it like those she could only get the money when she turns 18?
     
  8. sjminimac

    sjminimac Well-Known Member

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    You can get different types. There's your basic savings account which is instant access so you get a passbook and can access whenever you need to, yorkshire building society one day account is i think about 1.75%, you can get a bond where you tie it in for a year or more, or tie child trust fund which locks it in till their 18, xx
     

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