A passbook account for the grandchildren
My parents were asking for a passbook account for their grandchildren as they aren’t keen on card based accounts.
Almost all accounts these days are card or internet based and the initial couple that I came across weren’t great as the building societies concerned didn’t have that many branches. Finally, I settled on the National Savings Investment Account which only requires a £20 deposit to open and also pays interest gross at quite a reasonable rate.
Opening it is a little peculiar as the Post Office branch doesn’t ask for any proof of ID or address and instead National Savings do the whole lot electronically. That worried me a little as I wasn’t sure that we’d turn up on their records but the books have arrived so we must do. Even stranger though is that they didn’t ask for any proof of ID from the children (normally you’re asked for a birth certificate) and one of ours was born in France so I can’t seem him appearing on any UK records.
Anyway, my parents are happy that they’ve a book for the grandchildren.
Related posts:
- How safe is it to quote your bank account details to strangers?
- Alternatives to the Woolwich Cardsaver account
- Opening a bank account in France as a resident and as a non-resident
- Opening a non-resident bank account: the general requirements
- Why does everyone seem to want an American bank account?
