hi, I've got one. Opened it when I was pregnant, you only see the benefits when you make large or frequent web purchases really, but I'd still recommend it as its a way of earning a few extra quid for your bubba. You've got nothing to lose. I've saved about £15 from maybe 3 purchases? Definitely worth it if you're buying items in the £100s
I didn't get one bit of junk mail from having an account.
And once you set it up you can email your family a link so that any shopping they do will automatically put money into you bubba's account. Hope that helps! xx
edit: oh, and there's no catch! you just have to give it about 5 weeks for the money to be credited to your account
Have also posted this reply to your thread in babyclub.