savings for 18 yr old son

A question about : savings for 18 yr old son

Hi all, I am new to this site so forgive me for my ignorance. My 18 yr old son has Ј2500 left from an inheritance, currently, I have control of this. He is working full time and I need to change his account from nationwide smart account soon. Whilst we still need some access to the cash, its not ever immediate. Where should we put it now he is 18 and paying tax? Many thanks all x

Best answers:

• Does he have a current account if he is earning?
  He can get 5% on it with TSB or Nationwide.
• If you were holding this account in bare trust for your son, he has the right to access and control now that he has reached the age of 18.
  He might wish to consider the Nationwide Flexdirect account for a year, or a Lloyds Club account, or a Santander 123 account.
  If he needs direct debits, opening an internet saver and an instant access access saver with Tesco Bank will allow him to set these up.