Saving Account For New Baby

[ethandron]

We have a new baby in the family. A group of perhaps six family members would like to set up some sort of savings scheme, ISA, whatever, for this baby, and all pay into it regularly, to be accessed by the baby when it reaches 18.
None of the six are grandparents or parents of the baby.
Has anyone done this or have any ideas how it can be done? Thanks.

[fiction-factory]

Some info here.
https://www.moneyadviceservice.org.uk/en/articles/childrens-savings-accounts
Also try the MSE site.
You may hve problems stopping teh child accessing it before 18 if the account is in their name. I think they can access it from age 7 (assuming they know about it)

[ethandron]

Thanks ff, I had browsed those sites but nothing seemed to fit exactly what we’re looking for.

[Rockrose]

Perhaps pop into your own bank or BS and see if they can suggest anything