Treasury written question – answered at on 14 March 2013.
Katy Clark
Labour, North Ayrshire and Arran
To ask the Chancellor of the Exchequer if he will bring forward legislative proposals to prevent banks from imposing charges on Child Trust Fund accounts.
Sajid Javid
The Economic Secretary to the Treasury
Since the Child Trust Fund started, it has been possible for account providers to make charges for the management of accounts, providing the details are made clear in the account terms and conditions. Around three quarters of all Child Trust Funds are stakeholder accounts, and charges on these accounts must not exceed 1.5% of the fund value.
The Child Trust Fund rules allow transfers between different providers and account types.
Yes0 people think so
No0 people think not
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