It’s a good idea to look at what different Child Trust Fund (CTF) accounts offer before choosing the right one for your child.
If, after you have opened the account, you decide you want to move to another provider, or change the type of account, you can. There's no charge for doing this but where it is necessary to buy or sell investments to transfer the account there may be a charge for the costs involved.
Providers and distributors
Providers have been approved by HM Revenue & Customs to provide CTF accounts. Some providers will also make CTF accounts available to customers through other organisations, known as distributors. The important thing to know is that you can find out more about the CTF or open an account with any of these organisations.
What to look for
If you can, it's a good idea to look at a number of CTF accounts from different providers and distributors before you decide where to open your child's account. Points to consider include:
- fees for running the account
- whether you have to put money into the account and
- the likely return on the money you are investing.
Use this link for questions to ask providers
The link below takes you to a list of providers that shows the types of account they offer.
Table showing types of account providers offer
Choosing an account
We know it’s not easy deciding which CTF account to open for your child. That’s why we’ve put together a handy toolkit, explaining the difference between the three types of account and giving you all the other information you need to make a choice.
Start using the toolkit
You might like to check the FSA website using the link below for more information on what you should look for and what questions you should ask before you open your child's account.
Information on investments on the FSA website
More about different types of CTF account
