Teen saving account for lump sum

pennywise

Registered User
Messages
49
Hj

My father left some money to my children in his will. Both already have an account, one is a special needs account with AIB and I'll lodge his share on it.
The other, however, needs 2 new accounts. She currently has a Safari account with PTSB but since they changed the interest rate, it's no longer worth keeping. I had planned to open an EBS account for her, which she will have access to next year when she reaches 14.
The problem is that the sum she is about to receive, coupled with the savings we built up monthly, will exceed the limit of the EBS account. I need another one for that lump sum which we won't give her access to until she is 18.
I heard that Ulster Bank is the best, but are they not leaving the Irish market? Any alternative? Credit union, maybe?
 

Mousehelp

Registered User
Messages
52
I have the max in the EBS accounts. Ulster bank had a good savings rate for Children/teens but no point going for that now. State savings the best after that I think. Mine don’t need access yet so saving certs worked out the best option.
 
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