bank accounts for babys...

glasgow guy · 11-09-2007, 16:31

right!
as you may be or may not be aware little Kian was born on monday morning...
how do I go about getting an account opened in his name ?
what do I need to take with me when I go to the bank - the bank in question is natwest.

all info welcomed

lancsdave · 11-09-2007, 16:35

Quote:

Originally Posted by glasgow guy

right!
as you may be or may not be aware little Kian was born on monday morning...
how do I go about getting an account opened in his name ?
what do I need to take with me when I go to the bank - the bank in question is natwest.

all info welcomed

My daughter has a junior bank account with Natwest. From memory I had to take birth certificate and proof of address with same surname on it.

They are quite strict about it now because of money laundering

shillelagh · 11-09-2007, 16:35

NatWest - Save & Invest - Children's savings

there you are gg

pipinfort · 11-09-2007, 16:38

if you already bank with them you will just require the birth certificate, if not you will probably require proof of id for youself as well(i.e passport, driving licence) get his birth registered asap as you can`t sort out you`re tax credit etc till then, i presume he was born in blackburn, if thats the case you will have to eiter register him in blackburn or make an appointment to register him in accrington(altough they will send it of to bburn anyway). just did it for my 3 month old back in may so its still fresh in my mind.

glasgow guy · 11-09-2007, 16:38

Quote:

Originally Posted by lancsdave

My daughter has a junior bank account with Natwest. From memory I had to take birth certificate and proof of address with same surname on it.

They are quite strict about it now because of money laundering

money laundering ??... is that when you wash money thats been in your trouser pocket when it goes in the washing machine ?

lancsdave · 11-09-2007, 16:42

Quote:

Originally Posted by glasgow guy

money laundering ??... is that when you wash money thats been in your trouser pocket when it goes in the washing machine ?

I think it's mainly for foreign money. Your relatives haven't sent any down in the post from over the border have they, you'll not get away with it

glasgow guy · 11-09-2007, 16:43

Quote:

Originally Posted by shillelagh

NatWest - Save & Invest - Children's savings

there you are gg

excellent link there... thanks for that...
we will put the trust fund money in it and we are going to set up a d/d so a certain amount of money goes from our account to his every month..
I shall read up on that more tonight and wait till I have all documents in hand.

glasgow guy · 11-09-2007, 16:46

Quote:

Originally Posted by lancsdave

I think it's mainly for foreign money. Your relatives haven't sent any down in the post from over the border have they, you'll not get away with it

everyones a comedian

- and to be honest my local spar takes bank of scotland £5,£10 & £20 - even though they look totally different...like he says..it has the queens head on it - its legal ! ...but he wont take a £5 coin

.. he refused it one day when I was in the queue.. because he hadnt seen one before

I have said I am going to get him a £1 and try that in his shop

flashy · 11-09-2007, 17:39

believe it or not when i opened Reece's account at Barclays i only had to take my i.d in, dont know why

LancYorkYankee · 11-09-2007, 18:08

Wow, a bank account for babies. That is definitely a new one on me. I guess it's a bit like some people over here opening a College Savings account for their kids. Although I believe most Americans start doing that when the babes are a bit older.

Or maybe it's more like a custodial account in the baby's name for buying stocks and bonds. My American Mates, can you enlighten me?

Brian

flashy · 11-09-2007, 18:10

every newborn baby gets a cheque type thing now for £250 which has to go into a savings account and cant be drawn out till they are either 18 or 21

grego · 11-09-2007, 18:27

You definately need a birth certificate GG and proof of address if your not already a customer with them. When you receive his trust fund money you also get lots of info on the types of accounts available and which banks/building societies accept them.

cashman · 11-09-2007, 21:35

in days of old lol we opened bank accounts for both just after they were born, cant remember the details soz, both are in 30s now, but then remember we were told that after a certain age 16 or 18 they would be able to acess it, we stipulated that " Both" parents had to sign,dont know if its still the case,but nowt lost by asking.

Lilly · 11-09-2007, 22:02

Quote:

Originally Posted by cashman

we stipulated that " Both" parents had to sign,dont know if its still the case,but nowt lost by asking.

You get a choice, we did when we did ours a few years ago. Anyone can pay into it but you get the choice regarding withdrawing money whether you want this to require one signature or two.

entwisi · 12-09-2007, 18:59

If you are already with a Bank you may only need your own ID as teh childs account is linked to one of your own accounts. Thats how Barclays works Flashy. Its also due to a thing called KYC (Know your customer) which is legislation imposed by teh goverment to stop money laundering and 'sanctioned' transfers