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Halifax Children's Regular Saver Accounts Reviews

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

Halifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts Reviews

Website: www.halifax.co.uk
Good Points: High Interest Rate 8% fixed.
Bad Points: Takes a while to open and set up.
First reviewed on 02 Jan, 2009 by Emma
The Halifax Regular Saver allows you to put between £1 and £100 per month away for a 12 month period at an interest rate of 8% fixed. Which means if you save the maximum of £100 per month you will receive £44.99 in interest after the 12 month period. At which time the savings are then transferred to a Save For It Account. The account can be opened and managed both online, at your local branch or over the phone making your life very easy and allows friends and family to contribute for birthdays and such occasions to help build a nest egg for your childs future. Withdrawals are by closure only.
Emma's Golden EggNest Rating (4 out of 5): Halifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts Reviews

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Website: www.halifax.co.uk
Good Points: Local branches. Real people. Easy to set up.
Bad Points: Not the highest rates to be found.
First reviewed on 05 Aug, 2008 by Cleo
Halifax is great because they have so many local branches so you get to deal with real people. The kids get a little experience about what their bank account is about. You can get proper advice and in my branch especially they never mind explaining things that should probably be obvious. Also in these economically wobbly times they have a good reputation. I have most of my accounts with the Halifax so it makes sense and is convenient to make the children's accounts here. The people were friendly too.  The interest rates are not always fantastic. You can probably find better elsewhere. I know some people who can't stand the Halifax in general. Watch out for them dropping interest rates after the first few months. I'm sure they've failed to inform me in the past.
Cleo's Golden EggNest Rating (3 out of 5): Halifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts Reviews 

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Website: www.halifax.co.uk
Good Points: The staff have been extremely helpful and are happy to meet with you to discuss if any of their opther accounts have a better interest rate.
Bad Points: The interest is only payable annually on the childs birthday. There is a limit of £5,000 to be held in the account.
First reviewed on 05 Aug, 2008 by Amy
We have been very happy with the account that we opened for our daughter three years ago, the interest rate has been fairly good and on the basic savings account there are problems changing the account. The staff have been very good at suggesting other accounts within their products that have a better deal although most of them have to be locked away for a year at the minimum although the interest rates are better. One thing that I found helpful is that there is a limit on the amount of interest (£100) that your child can earn before you have to declare the income above this to pay tax on it, however my daughters great granny gave her some money and I would have had to pay tax on the income, however the Halifax looked into this and provided you could prove that the money was given to the child from somebody other than a parent (at it falls within the amount that you can give away under the tax laws) the interest was not taxable. With luck she had given us a cheque so we have a note on the bank account that this tax is not payable. The staff seem extremely helpful and seem to want tot go that bit extra to help you in our experience of them.
Amy's Golden EggNest Rating (4 out of 5): Halifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts Reviews
 

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Website: www.halifax.co.uk
Good Points: high interest rate
Bad Points: can only pay into the regular saver by direct debit.
First reviewed on 17 Jun, 2007 by heather38
i opened a regular saver account and save for it account for my daughter when she was 2 months old. the branch staff were quite helpful, but i had to make an appointement and couldn't do it when i went into the branch, even though they were quiet. i only wanted to open a regular saver account as it has the highest interest rate (10%) but they said that you can only pay into this account by direct debit and that you can only save for 1 year and then the money had to be transfered to a save4it account.  the save4it has a pass book so i can pay any money into the account, but the regular save gets a statement once a year on the anniversary of the account being opened.  there is a free gift of a money box and calculator, but they are a bit cheap looking.
heather38 's Golden EggNest Rating (3 out of 5): Halifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts ReviewsHalifax Children's Regular Saver Accounts Reviews
 

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Children's Stakeholder Pensions

You can now save towards your children's retirement with a Children's Stakeholder Pension in your children's name. This is a government backed scheme where you can invest up to £2,808 each year, net of tax, and the Inland Revenue will add 22% basic rate tax relief to this, bringing the total amount invested up to a maximum of £3,600 a year.

By starting a Children's Stakeholder Pension young, your children's pension pot will have a huge boost in comparison to those who waited until their working lives to begin paying towards a pension.

A contributions of £3,600 per annum between ages of 0 - 16 yrs (and then stopped) could leave your child with a potential pension fund value of £1,230,000 at age 60 (these projections are based on a medium growth rate of 7% with an Annual Management Charge of 1%, courtesy of Axa Sun Life).

Contact Steve Weisner - Senior Independent Financial Adviser - at Radcliffe Newlands on 0845 0217000 or Email Steve where he'll be happy to answer all your Children's Pension questions- Please mention MyEggNest

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Receive £25 Free Asda Gift Card when you set up a Direct Debit for at least £10 a month. Or, if you just set up an account you'll receive a £5 ASDA Gift Card. Click here for more information.

Children's Individual Savings Accounts (ISAs)

Individual Savings Accounts (ISAs) allow people to save their money in a range of investments such as cash, stocks and shares. Unlike investing directly in these products, investing through an ISA provides certain benefits. An ISA is often referred to as a “tax wrapper” which goes around your savings, protecting them from paying certain taxes.

Many parents are using their own ISA allowance to invest for their children (as the age for investment is 18 yrs). Parent can put away upto £7,000 pa each.

You can save cash in an ISA and the interest will be tax-free and/ or you can invest in shares or funds in an ISA and any capital growth and dividend income will be tax-free.

Providers with Children's ISA
Legal and General's Ethical ISAs

Contact Steve Weisner - Senior Independent Financial Adviser - at Radcliffe Newlands on 0845 0217000 or Email Steve where he'll be happy to answer all your Children's ISA questions - Please mention MyEggNest