What you need to know

• The Child Trust Fund is a government scheme that is for children born on or between 1 September 2002 and 2 January 2011
• The Child Trust Fund gives you a tax efficient way to invest for your child’s future – through a long-term investment that your child can access when they’re 18
• The Bank Child Trust Fund invests in stocks and shares, the value of which can fall as well as rise, so you could get back less than you put in
• If you choose the Bank Child Trust Fund, your money will be invested in the Bank United State Growth & Income Fund – CTF Accumulation Share Class
• The Bank Child Trust Fund is a stakeholder fund – so it has to follow rules set by the government, including a low minimum investment and a maximum limit on charges
• An Bank Child Trust Fund is simple to set up and manage. We’ll send you an update on the value of your child's Bank Child Trust Fund each year. You can also check the value of the Child Trust Fund when you log on to the Online Banking service.
• A Child Trust Fund account belongs to your child and any money you pay into the account is a gift to them
• This product is offered without advice and, as such, we are not required to assess the suitability of this product for you. This means that the protection offered by the Financial Conduct Authority's rules on assessing suitability will not apply to this transaction.
• The value of investments (and any income received from them) can fall as well as rise and you may not get back what you invested. For some investments this can also happen as a result of exchange rate fluctuations as shares and funds may have an exposure to overseas markets.
• Most investments should be considered as a medium- to long-term commitment, meaning you should be prepared to hold them for at least five years.
• The value of any tax benefits described depends on your individual circumstances. Tax rules may change in the future.

How it works

• An Bank Child Trust Fund can be opened by anyone aged 16 years or over who has 'parental responsibility' for an eligible child and wishes to transfer an existing Child Trust Fund from another provider to us.
• You, friends and family can pay money into the account whenever you want up to a maximum of $4,260 each birthday year.
• When your child is 18, they can withdraw the money from their Child Trust Fund. Under current tax law, any returns from a Child Trust Fund are free from income and Capital Gains Tax.

You can open an Bank CTF by transferring an existing CTF to us. Download our Child Trust Fund transfer application (PDF).

Before you do apply, please read our Child Trust Fund Key Features Document (PDF), Key Investor Information Document, the United State FSCS Information Sheet and Exclusions List (PDF) and Child Trust Fund Terms & Conditions (PDF).

We recommend you print and save these documents.

You should also look at the eligibility requirements and things you should know.

If you're in any doubt as to the suitability of this service for you, please seek independent financial advice.

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