Looking for a savings account in my child's name for the child's grandparents to avail of the small gift exemption, for use in paying School fees in about 6 years time. It seems all the products on offer from Irish Banks that I can see, offer negligible interest, or have a decent interest rate, but a cap of 1,000 euro or 10,000 euro on the amount they'll pay interest on.
I've looked into state savings. But it seems you would need the grandparents to each take one out every year in person. This is a bit more complexity than I'd like, as they're being very generous, and I want to cause them as little hassle as possible. I just want an IBAN I can give them, so they can set up a standing order.
Are there any online or overseas banks offering better interest, that will allow you open an account for a minor?
I've looked into state savings. But it seems you would need the grandparents to each take one out every year in person. This is a bit more complexity than I'd like, as they're being very generous, and I want to cause them as little hassle as possible. I just want an IBAN I can give them, so they can set up a standing order.
Are there any online or overseas banks offering better interest, that will allow you open an account for a minor?