Which is the best bank to open a Childs Trust fund for my daughter?

Question

I want a very low risk one, even if possible, on that does not put the money into shares (like so many do)

Which bank would be the best? I am in England.

Answer 1

I strongly recommend you take a look at martin Lewis' website - www.moneysavingexpert,co,uk

Always plenty of excellent advice on there.

Answer 2

To be honest child trust funds are run by the government and no the banks themselves, the banks just open them on behalf of the government.The bank just give you the forms to fill in and sent it off to a central office. All banks are the same.

Tip: When your sending off your application, get it registered post because if that voucher gets lost it takes absolutely ages to get a replacement.  

Answer 3

They will all be much of a muchness, Tesco, Halifax, Bank of Scotland... it makes no odds.

The money will be there for 18 years. It wil be safe and the government protect savings up to £30,000 in a UK account, just like they protected Northern Rock. So just pick a local one you are happy with.