free baby money

[crisgal]

i'm really confused as to where to put my baby's free money from the government - any suggestions? Can i put it where I want or does it have to be a certain account?

[ursula62]

Only certain financial institutions that opted into this scheme, so, no, you can't put it where you want to. You have to use one of the participating companies.  According to the Inland Revenue the following companies participated:

Abbey National PEP & ISA Managers Ltd
Ancient Order of Foresters Friendly Society Ltd
Britannia Building Society
Comdirect Limited
F & C Management Ltd
Family Equity Plan Ltd
Forester Life Limited
Furness Building Society
Halifax Investment Fund Mgrs Ltd
Hanley Economic Building Society
Homeowners Investment Fund Mgrs Ltd
HSBC trust Company (UK) Ltd
Independent Order of Oddfellows
Kingston Unity Friendly Society
Ipswich Building Society
Liverpool Victoria Portfolio Managers Ltd
National Westminster Bank Plc
Nationwide Building Society
Pilling & Co Stockbrokers
Police Mutual Assurance Society
Redmayne Bentley
Reyker Securities Plc
Royal Bank of Scotland Plc
Scottish Friendly Asset Managers Ltd
The Share Centre Ltd
Skipton Building Society
Tunbridge Wells Equitable Investments Company Ltd
Ulster Bank Limited
Walker Crips Stockbrokers Ltd
Yorkshire Building Society 

You can get more info from the Treasury website:

http://www.hm-treasury.gov.uk/newsroom_and_speeches/press/2005/press_06_05.cfm

[Top totty]

Hi.

 

Its all very confusing and I really think a complete waste of time anyway.

I have read a lot about it but am still confused with it all so have deceided to go for the Post Office Baby Bond account. I did want something where we have our Mortgage and other childrens savings account but they don't offer anything and I just want rid of the damn thing now.

Good Luck with it.