Are you able to talk your bank or financial adviser and ask about trust accounts. It would be better for you to open an account where you are due to the difficulties of making one abroad (you would have additional fees, conversion fees etc if you tried to make one in Canada). It would be a lovely surprise for when they turn 18 to know that their university fees were paid (even partially would be nice) or they could use the money for a gap year. You could probably change the release dates so that they get part of it on certain birthdays as well.
They don't really care do they
Good Morning Good Friday 29th March 2024