HSBC Child Trust Fund Reviews

Average Golden EggNest Ratings from 4 reviews  and 2 comments (4 out of 5)

Website: www.hsbc.com
Good Points: very simple to set up.
Bad Points: no online interaction. 
First reviewed on 17 Aug, 2008 by Louise
As all new parents we had no idea where to open our child trust fund when we received the £250 voucher after the birth of our daughter. We do all of our banking with HSBC so it appeared to be the easiest place to open up the account.  It has been very simple to add this account to all of our others at the bank and it is extremely simple when paying in so whenever our daughter receives a cheque at Birthday/Xmas time it can be paid straight in.  The reason that I could only rate HSBC as 3 star is that judging by the infrequent statements all of the investments are into HSBC managed share based investment funds so as the share prices tumble so does the value of our daughters account. The management fee also appears excessive as far as I’m concerned, but as I don’t know what other banks charge I can’t comment. Hopefully shares will be sky high by the time she can access the funds so her account will be worth a mint. Judging by what I can see so far, I would have preferred to have just opened this child trust fund with the voucher then opened a super saver account along side which we could have had a better control over so that she doesn’t spend it on whatever she likes once she reaches 18.. 
Louise's Golden EggNest Rating (4 out of 5): 

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Website: www.hsbc.com
Good Points: See Below.
Bad Points: The bad points are that they could accept maximum of £1200 per year fund from families and friends. I have a lot of relatives but I could not be able to put my child’s gift into his fund account because they are already over £1200 so the money have to be in my bank account under my child’s name as a saving then when he is 18 I will automatically transfer all his saving into his account. 
First reviewed on 04 Aug, 2008 by Neelam
The good points are that they are very easy to setup without any problem, also my child trust fund open as soon as possible within 2 days after I registered without any delay or waiting for 1 week to open my child’s account. I am going to inform my cousins who will be having a child by winter time but I will inform her the bad point about gift and advice her to open a new saving account under her child’s name ready when the child trust is over £1200. 
Neelam's Golden EggNest Rating (3 out of 5): 

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Website: www.hsbc.com
Good Points: Really easy to setup; Online application; Really detailed statements and information.
Bad Points: Not able to see account online;
First reviewed on 27 April, 2008 by Cathy
This Child Trust Fund was opened shortly after the birth of my son. It was really easy to apply, which was done online and then the information was sent through via post.  The UK Growth and Income find appealed due to its approach of investing in companies that are deemed to be high growth for the first 5 years before then switching the investment into blue chip companies to then switch to income and the relative security of these funds.  HSBC are really good to deal with, always happy to help and to solve and problems or issues that you may have. As mentioned above the down side not having online access to the Trust Fund therefore you are unable montitor the Trust Fund.
Cathy 's Golden EggNest Rating (4 out of 5): 

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Website: www.hsbc.com
Good Points: form was straight forward
Bad Points: Non so far
First reviewed on 13 Jan, 2008 by Ravinder
We are first time parents and prior to the birth of our son, were not aware of the Child Trust Fund. When our son arrived we were inundated with correspondence in leaflets from every baby company.  It was becoming confusing, we wanted to invest in the best possible child trust fund, however were busy with our new born. We then decided to go with HSBC as we currently bank with them.  I found it extremely easy to apply on line, and within a week we had received confirmation of the account, and a request for the voucher. Once this was sent, within 2 weeks we had further confirmation of receipt of the voucher and a welcome pack.  We were very pleased with the service, as the account was completed whilst at home with my newborn son.
Ravinder's Golden EggNest Rating (3 out of 5): 

Commented on 17 April, 2008: by Saleem
I have just opened CTF account for my daughter who is 2 months old, I think it is a great idea for the children’s future. I did my research on different companies and was provided with sufficient information and service but I chose HSBC, since me and my husband already bank with them so it is very easy, we are already familiar with their staff and the branch. As we were very busy with our new born, so I found all the relevant information regarding the account on the net and was convinced to go ahead. I am glad I chose HSBC for CTF.
Saleem's Golden EggNest Rating (5 out of 5): 

Commented on 12 May, 2008: Tami
Before giving birth to our son, my husband and I didn't even know about the Child Trust Fund. I moved to the UK just before my son was born and found all the information I was given overwhelming. We were informed of the child trust fund through a pamphlet from the hospital. We don't have anything like this in the US, so my husband (who is from the UK) asked some of his friends what it was all about and what companies they chose to invest their child's trust fund. We got a lot of great feedback from his friends and I did some research online. We found that the information about the CTF and the steps to investing really easy to understand from HSBC. I gave them a call and the representative that I talked to, I think his name was Steve, was very helpful. We also do our banking at HSBC, which also helped us make the decision to go with them. The forms were so easy to fill out! Our information pack arrived in a few short weeks after sending our voucher in. We are extremely satisfied with HSBC and their commitment to their customers. We plan on investing our next child's trust fund with HSBC.
Tami's Golden EggNest Rating (5 out of 5): 

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