You could buy saving certificates at post-office. Child cannot cash them until seven years old but can leave longer if desired. Although their interest rate has lagged behind of late, they are tax free and no hassle. I I did this for my children, they didn't know I had them and were very glad I gave them when they needed them. Or you could consider an account in your local credit union, control it and make deposits as you wish. Then give it to the child when starting college, 21st etc etc. I did this for my godchild's college start and she was absolutely thrilled. Putting a small amount away each month had seen it rise considerably.
