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.