childern's account over 16 years

Hi All,
I want to set up an account from my childern for there college as did my parents for me. How do choose an account as i want to feed this account for 16 years. I will be putting in lums sums and will consider a small regular direct debit into the account also. I would like some reasonable interest rate but i dont really want to be changing bank every year for the best rates. I would set up an individual accounts for each child. The banks dont seem to have anything to offer on this.

Also i was infromed that i can only open an account for my childern in a bank where i already have an account. Is this correct.

How frequently would you be willing to switch?

An Post have been offering 3% for a 30 day notice account for years. I would guess that An Post will offer this rate for some time. If you need a cash deposit that you can top up with a good long term rate then perhaps this is an option for you.

Thanks fungus,
I would like to review every 5 years or so. I want to lock the accountaway and forget about.

Will i be able to set up an account in the post office with just a birth cert?

For a child aged 8 in the PO we needed PPS no of child (written on an offical piece of paper), birth cert and a home bill that had same address as child was giving.

This is going to be a problem as one child only a few months old.

How would a child have a PPS number?

Is there no way round this AML requirement for a kid?

All children born in Ireland are assigned a PPS number as part of the process of applying for child benefit. You just need to contact your local social welfare office to get your child's number.

See here and here.

Indeed the PPS no comes on an offical piece of paper ie letter (u also need the PPS no. for a child's passport and enrol in National School) that I had lost/mislead and had to have a second one issued to let my kid open a PO account as school is involved in those saving stamps.