Best Bank Account For A Newborn

[Chasingcars]

Would an ISA or high interest savings account be better?

[boxtops]

I'd look at the child ISAs personally

[rosieapple]

There's good advice on the money saving expert site: http://www.moneysavingexpert.com/savings/junior-isa.

[factor-fiction]

If the account is in the child's name it will be tax free (just like an ISA) (unless the interest exceeds £100 a year in which case it counts a s parental income), so an ISA has no tax advantages. So it depends mainly on the rate of interest and whatever other factors are key to you

[bednobs]

hi CC, we went for a child savings account with my bank for our little girl - i ddin't really fancy the idea of an isa, in case i needed to raid the savings at all before she has control of them, and with an isa you can't do that - as soon as the money hits the account, it's hers and she can't get it till 18