Best saving accounts for babies
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I have opened mine a savings account but looking at doing an isa as well
I’ve opened a One Day account with YBS for my baby x
I found there aren't many children's savings accounts you can open while they are this young that can be managed online, Halifax is one of the only ones so I've gone for that. To be aware with a Junior ISA the money is locked away until your child turns 18 and then the money is theirs to do whatever they decide. These are good summaries on both options https://www.moneysavingexpert.com/savings/junior-isa/ https://www.moneysavingexpert.com/savings/child-savings-tax-free/
We’ve opened a Junior ISA for our son. When he’s older we’ll open a kids saver account that he can access and transfer half into the ISA and half into the saver. The ISA’s currently have relatively decent interest rates x
We have opened both our son & March 22 baby a Junior ISA with Nutmeg
Lloyds bank, you can open a child saver account with them, once your child turns 16 the account automatically changes to an adult easy saver ☺️
We have opened a junior ISA with NS&I.
Have opened a S&S JISA with HL and planning to open a cash JISA with TescoBank (expected to be taken over by Barclays I believe, come November) x
Interesting topic! Following ! Junior ISA is definitely better than normal account. But I’ve heard there are other systems that can also be tax free. I did not have the time to research as I don’t know the UK system.