Saving Account For Grandchildren

[cazdee]

Can anyone advise of an account I can open for my grandchildren, without needing any parental input of any sort.
Thanks

[boxtops]

Not personally, but I was standing behind a couple in the queue at the Nationwide the other day who were opening an account for a grandchild - it seemed pretty straightforward.

[Jennykenny]

Can you buy premium bonds in their name? Ask at the post office.

[pixie373]

I'd advise Children's Bonus Bonds. My four all have them and they are great. They are from NS &I. You ring them and ask for an application form.

[atalanta]

You can buy Premium Bonds for a Grandchild, but one of the parents has to be nominated.

[Peter Pedant]

pretty damn difficult quite honestly

I had to wait until one lot had reached majority (18)
and I never succeeded with another lot

Mummies get some odd fixed ideas of which one: " this was never done for me so I am damned if I am going to allow it for my kids " recurs with depressing regularity....

however one co-operator came out with:
now my kid is one and his cousin is 19 so it is only fair that you make up 19 y contributions to little jo jo....

swings and roundabouts my dear

[dancecaller]

You will need to show a birth certificate, so would need to get that from the parents.
Some accounts can be held as Trustee Accounts by Grandparents in the name of the child, e.g. Virgin http://uk.virginmoney.com/savings/find/Virgin_Young_Saver_Issue_2/opening-your-account/, Llyods http://www.lloydsbank.com/savings/young-saver.asp.
Others are considered to be the Childs money and all letters are sent to the childs address - e.g. the Halifax regular saver which has a good interest rate, but if things aren't passed onto you you might not know if they'd forgotten to register for gross interest - money given by Grandparents is not liable for tax (and I did ask!!!)
Halifax Children's ISA also has a good interest rate, but legally an ISA can only be opened by a parent.

[Mass_Hysteria]

The Halifax have a junior isa which will pay 6% interest if you also have an isa. I opened one for my daughter for a few hundred pounds and one for myself with £1 as this only paid 0.25% interest

[sherrardk]

My FIL opened done sort of account for boy#1 (think it was with Direct Line) and he didn't have his birth certificate.

[dancecaller]

All the ones I've opened asked for birth certs - money laundering