Savings Accounts

[pinkjudy45]

Can I open a savings account in my 16 year old granddaughters name? Also can anybody see any problems that may occur by putting on adult sons name and mine onto a joint bank account, I’m ask this to get my affairs in order before I die.

[bobbinwales]

Worth reading, Martin Lewis is good
https://www.moneysavingexpert.com/savings/child-savings-tax-free/

[calmck]

Yes you can open an account for your granddaughter. Possibly discuss with her parents the type of account as I think it might depend on age and at 16 a student account might be recommended with a bank card. Granddaughter should be included in discussion with you and banker so she understands all options. I have put my daughter on a joint account with me

[pinkjudy45]

Thank you to you both for the information