Post Office introduces online CTF tool

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Post Office introduces online CTF tool

Tue 15th Apr 2008

The Post Office has created a new online management tool for its child trust fund (CTF) customers.

It claims that the tool, which is called Online Wizard, is the "first of its kind".

Both new and existing CTF customers will be able to check the current value of their child's account and top it up online.

In addition, account holders will be able to view up-to-date summary statements and calculate how much can still be topped-up this year.

Richard Norman, head of savings at investments at the Post Office, noted that there are still "significant numbers of parents" who fail to top up or check their child's CTF on a regular basis.

"Online Wizard will make it easier for parents to mange their child's CTF account and monitor the performance of its investments more frequently and potentially save them money in the long term," he added.

Recent research from Abbey found that 87 per cent think of Britons think that there should be greater tax breaks for those on low incomes trying to save.

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