Child Trust Fund

[lesleyann]

If you dont mind me asking witch type of account did you decide to put your childs money into? And if its a share's type account does it seem to of made alot/little or stayied the same really or even a loss.

And witch bank did you deicide to go with?

 

[Blah11]

I just done mine last week with engagemutual and it was a stakeholder. im assuming that shares are at an alltime low so hoping they can only go up!

 

[Blah11]

Oh and im also adding £20 a month to it via direct debit ;D so if she wants acar for her 18th she can have one (hopefully)

 

[lesleyann]

I just done mine last week with engagemutual and it was a stakeholder. im assuming that shares are at an alltime low so hoping they can only go up!

that seems liek a good idea, my only concern is buying low and the hopes to make loads for him for it them maybe to drop alot just before he can spend it such a hard thing to decide

 

[helen1234]

i was told to open just one account for the trust fund money and open another one for his own money eg birthday money etc. as once you put it into one with the trust cheque then you cant get it out if you ever wanted it before he/she is 18, so we'll go stakeholder with the childrens mutual i think as i dont know anything about stocks etc and it says in their booklet its a low risk investment.
can also be done online.
i'm going to open his own account at the hsbc one he can access with our permission at 16 but it really depends on what he wants we wont let him spend it on a set of drums thats for sure
xx

 

[Amy-Lea]

I missed my deadline :'( What a waste!

 

[lesleyann]

I missed my deadline :'( What a waste!

if you miss your deadline dont they just set one up without you? im sure i heard that somewhere ill check my booklet

 

[lesleyann]

Quote from my booklet

What happens if i don't use the voucher?

If you don't open an account by the expiry date on the voucher, we will arrange for a CFT provider to open a stakeholder account for your child. But your child's money will have missed a whole year's growth, witch could make a difference to the amount your child will receive when they turn 18.

We will send you a letter to tell you where the account has been opened.

If you want to, you can move it to a different CTF provider or change the type of account.

 

[Blah11]

I missed my deadline :'( What a waste!

Aw don;t worry! They will invest it for you X

 

[Blah11]

I just done mine last week with engagemutual and it was a stakeholder. im assuming that shares are at an alltime low so hoping they can only go up!

that seems liek a good idea, my only concern is buying low and the hopes to make loads for him for it them maybe to drop alot just before he can spend it such a hard thing to decide

Well after their 7th birthday they invest into low risk shares.. you dont get the potential to make as much but far less of a chance of them going down dramatically.

 

[BeckaJayne]

when do you recieve this cheque coz im still waiting lol

 

[lesleyann]

i got a letter today saying it should be here within 14working days

Heres the helpline number though 0845 302 1470..

Dont no how old your little one is because i cannot see forum sigs in here for some reason lol but mines 4weeks1day

 

[BeckaJayne]

She's 7 weeks and and i go child benefits in may so i beeter give them a ring 2moro and see what they're doing lol

thanks

 

[fa66ster]

In theory over 18 years the stock market will outperform savings. So that's where my daughter's CTF will go.

 

[BeckaJayne]

i got a letter today saying it should be here within 14working days

Heres the helpline number though 0845 302 1470..

Dont no how old your little one is because i cannot see forum sigs in here for some reason lol but mines 4weeks1day

Apparently child benefits haven't passed my details on yet so i'll here something in 4 weeks...rubbish

 

[FierceAngel]

luisa has a cash one with nationwide and then a seperate smart account.. its being topped up by us and her grandparents with just under the limit each month i also intend to put half her xmas and bday money in there (if it hasnt exceeded the limit)

 

[BeckaJayne]

Im not gunna be able to open mine for another 8-12 weeks they've messed up and someones chasing it up!!!

 

[sparkswillfly]

I still havent done anything with mine!

 

[polo_princess]

We opened a regular savings account with nationwide

 

[faille]

I'd like to a stakeholder account but not sure who with yet.

There's so many to choose from, only problem is I haven't heard of most of them so how am I supposed to know if they're any good??