Wouldn't it be great to discover your children have £1,000 sitting in a bank account you never even knew existed?
It could be possible, thanks to a previous Government.
The last Labour Government introduced the Child Trust Fund account, where parents were given £250 to save for their child, and a further £250 on their seventh birthday.
Children from low-income families received double payments - so there could be £1,000 sitting pretty in a bank account somewhere.
The scheme ran for children who were born between 2002 and 2010, and even if you did not open a bank account, the Government will have done it on your behalf.
Parents can now move the money into a junior ISA, which could offer better interest rates.
How do I recover my kid's Child Trust Fund?
First, check your child has one. They must have been born between September 1, 2002, and January 2, 2011, and you must have been eligible for child benefit.
Then, go here and search. You will need your Government Gateway credentials to log in, which you will receive when you create an HMRC online account.
You'll need to add your contact details and your child's details.
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Then what happens?
HMRC will get back to you, usually within 15 days.
How do I move the money into a junior ISA?
Find a junior ISA. Ask the junior ISA provider if they will accept Child Trust Fund transfers and whether you have to pay a fee.
Share the details of the Child Trust fund with the junior ISA provider so they can make the transfer.
