opening an account for our grandson

We opened an account for our grandson last year with Halifax, and had to ask his parents for his birth certificate. All the paperwork went to them, even though we were paying the monthly sum. We had no issue with this. It matured after a year and you then have to open a fresh account to get the same interest rate, and the original sum rolls over into an easy access account with a lower interest rate. We were advised that rather than start again with the 6%, we would be better continuing to put the monthly sum into the easy access account, as it would accrue more interest on the larger amount than starting again with a fresh account. We can also make additional deposits into it. He can have a card to withdraw money from this account if he wants, but as he is only eight and doesn't know about it anyway, it will hopefully continue to accrue until he can use it "wisely"!

I have two Gs's one 4yrs the other 7mths.Halifax have a childs account at the moment giving 6% for the first year.I tried to open one for Gs's but needed original birth certificates they wouldn't accept copies.So DD is going to open the accounts and I will arrange a monthly direct debit in place of pocket money.(They live 180 mls away)

That's a good point, Ariadne. My son told me today that our little grandchild has a bank account now - he is all of 6 months old. So I wondered - shall I put a small amount in each month, or shall I use it for high days and holidays and special occasions? Because I did think - I could put money in there each month now, but may not be able to keep that up. Not that we've been asked to put money in, his parents have sorted him with it.

Do remember too,( if this is your first grandchild, if not, ignore it!) that there may be more. We now have six, and have made sure that each has been treated equally as far as investments / savings are concerned, but we're glad we were a little circumspect with the first one, though at the time we would have given her the earth!

All my GC's live abroad and I have accounts here for them, run by me but in their names. I did need birth certificate copies for them and it is not possible to claim the tax back or have an ISA (because they are not UK residents) If they live in this country it will be easier. I would suggest you visit a variety of banks / building societies and tell them what you want to do. The % interest varies quite a lot.

To open an account in dgs name I think you need docs from parents etc. You could open an account in your name and leave the proceeds of this account to your dgs in your Will for his benefit at 21 years.