Savings accounts (or similar) for GC abroad- help, please!

Our first two DGC had premium bonds started by us, when they were living here. 10 years ago the family emigrated to USA so I put the regular amount in our premium bonds (earmarkd as belonging to them). Now their parents have started college funds for them I am transferring it, bit by bit, to them by sending it, via PayPal, to their father (DS1).

Hi, I’m a freelance journalist and looking into writing an article about how older generations are more frequently supporting two generations at once now in this cost of living crisis for the Daily Mail. Can pay a £300 fee on publication but happy to explain more over phone or on email ([email protected]). I have put out a more formal request via gransnet too but I noticed this post and thought it might be worth introducing myself just in case you were interested in being interviewed for it (over the phone, and would need to take a pic too)! Best wishes, India

Not too sure, but have you looked at life assurance policies with their names. In France they run 5 or 8 years, then can be cashed or closed and no tax to pay.

One of the standout measures is the abolition of the Baby Bonus

The Australian Government stopped it in 2014.
Sorry.

But they may have accounts and you can send money for the parents to save for them, or transfer money to their accounts
WISE is a good, speedy, transfer method and very reasonable.

I opened an account in the US and my son is instructed to withdraw money for things like the children’s birthdays and Christmas. The girls are the beneficiaries when I die so I consider it their money. Perhaps that could work for you.

Apart from buying Premium Bonds, which are better bought in a block, I'm not sure.

DGS has an Australian account set up with a bond from the Australian Government, similar to the bonds to be put into ISAs which the UK Government used to give to new babies so I would add to that. He can't touch it until he's 18.

I found it impossible to do this for my Norwegian granddaughters. The account which I opened here in the UK couldn't be in their names. Looking forward to someone with an idea to circumvent this.