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Setting up an account for a nephew/niece (baby)

  • 13-01-2010 2:18pm
    #1
    Thoushaltnot
    Registered Users, Registered Users 2 Posts: 582 ✭✭✭


    I'd like to set up an account for my 1 year old niece and just deposit some money in there for her as a birthday pressie. I'm not in a position, financially, to set up a regular savings account for her, just deposit the occasional lump sum. What are the best options out there at the mo? Anything else I need to know/take into consideration?
    I'll prolly hand it over to her parents, btw, as she doesn't already have an account set up for her.
    (Mods/Others - feel free to move this if it's in the wrong area or point me to a previously existing thread).

    Cheers!
    Tagged:


Comments

  • #2
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    Why not get their parents to setup an account for them and you deposit the cash for them. You will be unable to setup an account for someone under 18 unless you are their parent.


  • #3
    Thoushaltnot
    Registered Users, Registered Users 2 Posts: 582 ✭✭✭Thoushaltnot


    Thanks for taking the time & trouble, Tipsy.

    I have found something - the EBS have a Childrens Savings Account, "Big" - for 0 to 11 y o's and they'll pop in €25 after the account's been open 6 months (and had at least /an avg of €25 in there all that time). But yeah, Mammy & Daddy pretty much have to set up the account (ID and proof of addy needed, fair 'nuff), so I'll have a word.

    Anyone know of an offer that beats that, tho?


  • #4
    sharenav
    Closed Accounts Posts: 2 ✭sharenav


    Best thing to do is set up an online trading account. Invest in a solid portfolio and keep adding over time...... this will offer you a better return for the small one over the longer term!

    Hope this helps.


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