Kids deposit accounts

[daheff]

Hi

I'm looking to open a savings account for my children that I can transfer money to online, and which offers a reasonable rate of return.

can somebody please suggest one for me?

any of the banks i've talked to (usual crew) say they dont have one that I can transfer money to online, or its locked away for 6/12 mths at a time at minimal rates

thanks

 

[Lightning]

Some options below, not certain about online access.

[broken link removed]
3.02% from €1 to €5,000
Note 1: Instant access
Note 2: Account can be opened by those under 12.
Note 3: €20 (gross) bonus added to the account after the first six months of saving. The one off bonus interest payment will be credited to the account 6 months from account opening if a minimum balance of €50 is saved and maintained in the account for the first 6 months from the date of account opening
Deposit Protection: Eligible Liabilities Guarantee, which is the Irish government bank guarantee scheme until at least December 31st 2011.

[broken link removed]
3.02% from €1 to €5,000
Note 1: Instant access
Note 2: Account can be opened by those aged 12 to 17.
Note 3: €20 (gross) bonus added to the account after the first six months of saving. The one off bonus interest payment will be credited to the account 6 months from account opening if a minimum balance of €50 is saved and maintained in the account for the first 6 months from the date of account opening
Deposit Protection: Eligible Liabilities Guarantee, which is the Irish government bank guarantee scheme until at least December 31st 2011.

[broken link removed]
3.00% from €1 to €20,000
0.10% on €20,000+
Note 1: Instant access
Note 2: Account aimed at 12-18 year olds.
Note 3: Interest paid annually on the first working day after 20th November.
Note 4: ATM card supplied with account.
Deposit Protection: Eligible Liabilities Guarantee, which is the Irish government bank guarantee scheme until at least December 31st 2011.

[broken link removed]
3.00% from €1 to €20,000
1.50% on €20,000+
Note 1: Instant access
Note 2: Account aimed at children under 12 but can be opened by anyone.
Note 3: Interest paid annually on the first working day after 20th November.
Deposit Protection: Eligible Liabilities Guarantee, which is the Irish government bank guarantee scheme until at least December 31st 2011.

 

[sadie]

Just look around for a Savings account with a high interest rate, open it in your own name, and just earmark it for the kids.
Like the kids won't be accessing it themselves (at least not until they show some respect for money says you).

We have the AIB Parent and Child Saver - the Child account has a good rate of interest, but once you go over a certain amount of money (very low) the money gets syphoned off into the Parent Deposit account which now has a very low interest rate. It's a waste of admin time for all concerned. I only opened them because at the time the interest rate was the highest going.
Recently I took out what was in the Parent Deposit account and put it in the EBS 18mth Fixed Term.
I'm not sure I'd bother with a Child Saver account again unless the interest rate is good.
So make your decision based on interest rates rather than the appeal of a Child saving account. The interest rates change so much that you can't expect to open a savings account today and still be using it in three years time. Banks lure you in with a high interest rate, then discretely lower it further down the line.

 

[daheff]

thanks for the replies.

we dont really want to open accounts in our names (just in case something should happen to us). We (ideally) want the accounts in the names of the children.

I'll look into the EBS & PTSB accounts above

thanks though