Accessing Child Trust Fund in UK
#1
Forum Regular
Thread Starter
Joined: Aug 2010
Posts: 157
Accessing Child Trust Fund in UK
Hello there,
Just wondering if anyone else has been in this predicament.
My daughter turned 18 recently and I contacted the Yorkshire Building Society in the UK so she could access the money in her child trust fund. She doesn't have any bank accounts in the UK and they know we live in Australia. I had hoped, with my daugther's authorisation, they could transfer the money to my UK bank account but they said it can only be paid directly to her. They sent her a UK cheque and ANZ have told her they can't accept cheques from overseas.
My daughter will be contacting Yorkshire Building Society to see if there is a way around this but in the meantime thought I'd ask here if anyone else has been in this situation.
Just wondering if anyone else has been in this predicament.
My daughter turned 18 recently and I contacted the Yorkshire Building Society in the UK so she could access the money in her child trust fund. She doesn't have any bank accounts in the UK and they know we live in Australia. I had hoped, with my daugther's authorisation, they could transfer the money to my UK bank account but they said it can only be paid directly to her. They sent her a UK cheque and ANZ have told her they can't accept cheques from overseas.
My daughter will be contacting Yorkshire Building Society to see if there is a way around this but in the meantime thought I'd ask here if anyone else has been in this situation.
#2
BE Forum Addict
Joined: May 2023
Posts: 1,128
Re: Accessing Child Trust Fund in UK
We had a similar situation last year (me in Hungary, sister in Australia). Only solution (for me) was I got a UK based family member to pay the cheque into my UK bank account - which they did without a problem. Don't know what my sister did as she had no UK bank account!
Do you have someone in the UK who can do this for you?
Do you have someone in the UK who can do this for you?
#4
Forum Regular
Thread Starter
Joined: Aug 2010
Posts: 157
Re: Accessing Child Trust Fund in UK
We had a similar situation last year (me in Hungary, sister in Australia). Only solution (for me) was I got a UK based family member to pay the cheque into my UK bank account - which they did without a problem. Don't know what my sister did as she had no UK bank account!
Do you have someone in the UK who can do this for you?
Do you have someone in the UK who can do this for you?
#5
BE Forum Addict
Joined: May 2023
Posts: 1,128
Re: Accessing Child Trust Fund in UK
Just found out that my brother in law was (eventually) able to add my sister to his UK bank account. Can you try that?
Anecdote - no help to you but slightly annoying / amusing -
Couple of years ago I found out that the (other) Yorkshire based BS was sending correspondence to my other sisters address in the UK. I wrote to them and asked them to write to me at my Hungarian address. Their response -
"Thank you for notifying us of your Hungarian address. However we will continue to send correspondence to the UK address currently on file
Spoiler:
You couldn't make it up!
#6
Forum Regular
Thread Starter
Joined: Aug 2010
Posts: 157
Re: Accessing Child Trust Fund in UK
Sorry, of course, my mistake!
Just found out that my brother in law was (eventually) able to add my sister to his UK bank account. Can you try that?
Anecdote - no help to you but slightly annoying / amusing -
Couple of years ago I found out that the (other) Yorkshire based BS was sending correspondence to my other sisters address in the UK. I wrote to them and asked them to write to me at my Hungarian address. Their response -
"Thank you for notifying us of your Hungarian address. However we will continue to send correspondence to the UK address currently on file
You couldn't make it up!
Just found out that my brother in law was (eventually) able to add my sister to his UK bank account. Can you try that?
Anecdote - no help to you but slightly annoying / amusing -
Couple of years ago I found out that the (other) Yorkshire based BS was sending correspondence to my other sisters address in the UK. I wrote to them and asked them to write to me at my Hungarian address. Their response -
"Thank you for notifying us of your Hungarian address. However we will continue to send correspondence to the UK address currently on file
Spoiler:
You couldn't make it up!
#7
BE Forum Addict
Joined: May 2023
Posts: 1,128
Re: Accessing Child Trust Fund in UK
This cheque thing is a bit of a racket. After we moved to Hungary we received 3 small refunds by cheque (BBC, DVLA and local authority). We were able to get those cheques cleared in Hungary, had we been in Australia we would not and probably would have had to write those sums off.
PS: A week after clearing the BBC cheque we received a letter from (on behalf of) the BBC, block capitals and in red, threatening us with legal action for not having a TV licence!
PS: A week after clearing the BBC cheque we received a letter from (on behalf of) the BBC, block capitals and in red, threatening us with legal action for not having a TV licence!