Child Saving account

Frances01

I am looking to open a savings account for my goddaughter so that I can lodge money on her birthday, christmas etc and then give it to her when she is 18. So far, I have only found bank accounts which require the parents to physically open the account. (It's suppose to be a gift so i dont want to make the parents work for it)

Is anyone aware of an account which allows the godparent to jointly open the account with the child? If not, has anyone been in a similar situation and what have you done?

Alternative ideas are v welcome!!

Thank you!

Billgirlylegs

It's all covered by Moey Laundering Legislation.

Unless you can prove that you are related to the child, you wil have a tough job.

Open an account in your own name.
When the time comes, hand over the proceeds.
You control the gift and in the unlikely event of a family estrangement, it will not fall into someone else's hands or control.

Frances01

Thank you Billgirlylegs.

I think that I will end up going down that route.
Asking the parents to go into the bank just takes the goodness out of the gift.

Thanks again!