Good news for 13-22-year-olds, as Martin Lewis has said they may have thousands of pounds they don’t even know about it a Child Trust Fund.
The money saving expert has said around 670,000 people aged between 18 and 22 have untouched Child Trust Funds – with an average balance of £2,212.
The savings accounts which are tax free were designed for children born between September 1, 2002 and January 2, 2011.
In a video posted on social media, Martin said: ‘This is an important warning for anybody aged 22 and under.
‘You may have £2,000 in a Child Trust Fund that you don’t know about, and you can get the money out for free.’
But he cautioned to avoid companies who offer to access the funds for accounts holders for a fee.
He added: ‘I’ve started to see adverts and videos on social media from firms trying to charge you to access your own money, or trying …