New child trust fund customers using The Children’s Mutual can avoid postal strike delays by using the phone or internet to kick-start the savings plan.
In the past parents opening a child trust fund (CTF) for their newborn would have to return the voucher, sent to them by the government, by post to get the savings plan started.
However, The Children’s Mutual Trust Fund can be opened without the need to send the voucher or fill out a paper application. The whole process can be done over the phone or through the provider’s website.
Tony Anderson, marketing director of The Children’s Mutual, said it was one of the first CTF providers to launch a voucherless system.
“Applying online or over the phone is a quick way of opening a CTF allowing parents, friends and family to start their child’s savings pot as early as possible,” he added.
“We believe that anything that makes the process of saving for children simpler is going to help our families both today and in the future.”
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