Children's ISAs sound like a con to me, kids get tax free interest anyway?! I had a look though before going with West Brom and the interest rates still don't compare to adult accounts. I don't use my tax free ISA allowance anyway so she may as well have it! There is better interest still with fixed term accounts but we wanted the easy access just in case she wanted money for a school trip etc.

After some internet research, I think I've found a couple of children's fixed term accounts that seem to be suitable.

Thanks for the advice anyway!

Thanks for advice. I think I might open a cash ISA for our children's savings. Has anyone tried a junior ISA?

I move my daughter's savings every year now to get a bonus rate of interest. It's in an online cash ISA with West Brom at the moment in my name getting 3.07% tax free. I got fed up saving in kids accounts for her, tax free maybe but they don't compare to most adult accounts after tax! Online only accounts seem to be slightly higher interest again.

Hi

I had the same problem and not wanting to open a fixed term account opened a Halifax online web saver in my wifes name -transferred the childrens money to that @ 2.8% from the 0.5% save 4it accounts and then feed that back in to the 6% childrens saver account .

i know its not a high intereast rate , 2.8% and tax is paid-but better than nothing. You can then use the ISA alllowance separately.

Advice on children's savings appreciated..

Currently, we save money in the Halifax children's saver account which has a good interest rate that we're happy with. But after each year, the amount saved in that year is automatically transferred into an account that doesn't pay so much interest. Our first child has a £250 trust fund savings account from the last government but we don't use it as we found the halifax one was better. Our second child would be eligible for a junior isa but I'm not sure about the advantages of this.

I wonder if I should save the same money into my cash isa instead? Although this would reduce my savings that I put into my isa.

Or a fixed rate bond - but I don't know much about this either! National savings bonds? But presumable these aren't tax free like a children's account.

We don't want to invest money in shares as we're not rich enough to ignore losses!

Thanks for any advice given.