Opening a Cash CTF

Please note that once you open a Monmouthshire Building Society Cash Child Trust Fund, any money deposited will be treated as a gift to the child and cannot be taken out until the child reaches 18 years of age, at which point only the child will be able to withdraw it.  This means that unlike other accounts, there is no cancellation period in which to change your mind.  However, you are allowed to transfer it to another provider if you so wish. 

Simply complete the application form and take it to your local branch or agency along with your CTF voucher.(Unfortunately, we cannot accept online or postal applications for this account). Only one person, who has parental responsibility for the child, can operate the account. This person will be known as the 'Registered Contact'. When the account is opened you will be provided with a passbook.

The voucher provided to us will act as a sufficient form of identification for the child. You, as the Registered Contact, will need to provide some form of identification - face to face of both your name and permanent address, and an electronic check of your identity will be undertaken. This is required by law to verify the true identity of all new customers. Identity checks are an important part in the fight against terrorism and other criminal activities.

 If you have difficulty providing any of the above, contact your local branch or agency for advice. Existing Society customers will be asked to confirm their details and to provide any missing information. Regulations require that we see original documents.

Please note

Any child born from 1st January 2011 onwards will not be eligible for a Child Trust Fund.