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Problem opening a child's savings account


I am finding it impossible to open sterling savings accounts for my grandchildren at a British bank. My daughter and I have each had accounts at that bank for many years. She is British and works as an export manager for a Spanish company. She works and lives some of the time in Spain and some in the UK. The children were born 6 months ago n Spain. So much for European Union and the free movement of capital and labour.

 

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Answers

No problem. Open a Child savings account at your Bank. The Trustee HAS to be a Parent or Guardian...NOT the Grandparent !

You then pay a regular amount each month from YOUR account, into your Grandchilds account.   Sorted !!

I have opened a PENSION Scheme for my 2 year old grandson, in this manner.

Maybe you ought to explore THAT possibly. At least no one can ever touch the money, except your Grandson !

 

 

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