# Kids accounts (which one is best)???



## hotwaxxx (Jul 12, 2007)

My wife and I are looking to open an account for Baby Jasmine. Her Child Benefit will automatically go into the account (£81.20 per month) and we will also put a further £100 per month in as well until she is 16 years old.

As this is our first kid, we are unsure which bank to go with. 

Halifax offers 6% per £1200 a year but that means we will not be able to put in our desired £181.20 per month.

Any ideas?


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## Overdoser (Oct 25, 2010)

I have the Northern Rock little rock account for my kids. It pays 3% interest and you can pay in as much as you like.


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## hotwaxxx (Jul 12, 2007)

Right. I've been doing a little more research and noted that Halifax offers a Junior ISA account.

The J-ISA allows you to put in to £3,600 per year with a 6% tax-free return up to the age of 18 years old.

So what we will probably do is have the Child Benefit paid into my wife's account and then transfer £3,600 over every March for 18 years. It beats what we currently get for our ISA plus its tax-free for children.

Does this sound good or am I missing the catch somewhere?

http://www.halifax.co.uk/investments/products/junior-stocks-shares-isa/


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## Ravinder (Jul 24, 2009)

You can always open the childrens saver at 6% and put the £100 per month into that and the benefits into the ISA, that way you're getting interest on both accounts as oppose to putting it into your wifes current account, if it is one and not really getting much interest, if any at all.


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