SM junior’s granddad wants to set up an account for him after a debacle with the totally incompetent Santander.

Am I right in thinking it’s wise to use the Trust fund to put in the max possible each year (£1200?) and just leave it, while using a savings account to add whatever is affordable on top?

It’s easy to look up the best rates etc, but would like to know if anyone has any good or bad experiences etc.

TVM

You could wait for the new Baby ISA’s that are on the way

Junior ISA

The trust funds weren’t up to much IMO, you’d be better saving on their behalf in some other way. They also have the disadvantage of passing straight to the child at 18, leaving them to decide how to spend it 😕

Interesting, but looks pretty much the same (i.e. bens and restrictions) as with the CTF. Will check it out some more. Ta

NS&I Children’s Bonus Bonds allow you to invest for a child’s future in their own name – and there’s no tax to pay on the interest or bonuses.
And because NS&I is backed by HM Treasury, you can be confident that all the money you invest in Children’s Bonus Bonds is 100% secure.