Originated From
Money Extra

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.

 

Liked this question? Tell your friends about it

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 !

 

 

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: Did you ever invest in a savings plan?

Did you ever invest in a savings plan?

Asked: I have many saved emails. I want to transfer ...

I have many saved emails. I want to transfer them from my AOL email account, to either my computer, or another email service. Can you please instruct me how that can be done?

Asked: Why can I suddenly not save

Why can I suddenly not save material I receive by e-mail?

More Questions

Saving 10% !!?

It isn't possible to save money while you have debt. If you really want to save money...pay off your debts. For example, if you are putting money in the bank and the interest earned is 3%, and you have a credit card that is charging you 10%...you aren't using your money to your advantage ...

Child support final judgement in correct can it be challenged.

If you are looking for legal advice, pay a lawyer for it. Advice that you get from a non-lawyer is worth little or nothing. Maybe it depends on how quickly you challenge the ruling. Maybe it depends on state law; the 4th Circuit Court covers 5 states. How did it get to the circuit court, anyway ...

Savings accounts % interest yielding

Almost all accounts are having same interest on saving account but still you check the bank wesite and you will get the information. Cash loans no credit check | Short term loans | Get a payday cash advance

How to change the joint dp account to single account???

Unfortunately, I don't know the answer to your question.

MoneyExtra News

Yorkshire Building Society sees 400% rise in mortgage applications

A UK lender has seen a four-fold increase in mortgage applications during the first quarter of the year. The Yorkshire Building Society has processed 400 per cent more...

First-time buyers 'will benefit from house price falls'

The affordability of housing was boosted across 2008, according to Halifax. New data from the mortgage lender shows that the house price to earnings ratio - a measure...

HSBC increases mortgage funding commitment

HSBC is to make another £500 million available to home buyers requiring a 90 per cent loan to value mortgage in 2009. The bank has reached the £1 billion it...

FSA to take action on payment protection insurance

The Financial Services Authority FSA is to take steps to protect consumers in the payment protection insurance PPI market. New steps are designed to ensure cusotmers...

Sainsbury's increases interest rate on Online Saver

Sainsbury's Finance has increased the interest rate on its new Online Saver account from 3.0 per cent gross AER variable to 3.2 per cent gross AER variable. The...
More Powered by