Hi,

does anybody have any reccommendations? My best friend has just given birth to her first and due to complications most likely only child.

I think that this child will be bought everything it needs ny parents/grandparents etc... so i think buying him toys every year for birthdays and christmas will be a waste of money. I would prefer to put away money instead so when he is 18 he can choose to use it how he wishes.

Does anyone have any recommendations for a childs savings accounts? I would prefer it to be in his name but some accounts are stipulating minimum ages. I dont have a massive amount to put in so initially it will be about £50 then probably £25 for christmas and birthdays and easter.
So i am struggling with the large amounts some are asking for. I have looked at premium bonds but decided against them.

Thanks in advance.

It seems that Junior ISAs are being introduced on the 1st November, so it might be worth waiting to see what's on offer then - it's not long now! :-)

Thankyou.

My little one has two accounts with Nationwide, one controlled by us and one by her grandparents (guess which has more money in ;)  ) There was no minimum fee and was all very straight forward to set up.  Junior ISA sounds your best bet though.