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We did this - JISA's through Hargreaves Lansdown are free to run, and they have a good range of low cost indices (HSBC global is 0.07% iirc)
Also, there are often children's regular savers accounts around that offer very good interest rates for a few years. May be worth one of those, and chuck the balance into a JISA when the introductory rates end.
And make them a few easily prepared meals. That'll go down well too.
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That's a cool idea. Wish one of my rellos thought of that for me. Doh!
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I'm planning on doing this as well - for a nephew - but haven't got round to it / found the right options yet. Was thinking of Premium Bonds (with reinvested winnings), but again these can only be purchased by the child's parents or grandparents.
NotThamesWater
hippy
Danimal
@pjhobs
Question - Last week I became an uncle, rather than buy some baby grows from Jojo-mama-whatever I'd like to pop a few hundred into an index tracker for them to enjoy after 18 years of low fees and compounded gains (hopefully) .
A JISA looks like the way to go, but I would have to get my brother to open it. Can anyone suggest an alternative?