Martin Lewis says people could get £2k if they had kids during nine-year period

Need to know: Martin Lewis urges parents and young people to check for ‘forgotten’ £2,000 in Child Trust Funds.

• MoneySavingExpert founder Martin Lewis is urging parents and young people to check for forgotten Child Trust Funds that could be worth £2,000. Appearing on a recent episode of ITV’s The Martin Lewis Money Show, Lewis said: “There are some who are missing out on thousands of pounds.”
• He specifically targeted those aged 15 to 23. He said millions have these accounts, but “many don’t know about them”.
• HMRC is currently writing to around 750,000 21-year-olds about unclaimed Child Trust Funds. These accounts were the predecessor to junior ISAs and typically hold around £2,000, though Lewis noted the amount “varies vastly” depending on parental contributions and investment performance.
• Anyone born between September 1, 2002, and January 2, 2011, can use the free Find a Child Trust Fund tool on gov.uk. Different age groups have different access requirements – under-16s need parental help, while those aged 16-18 can act independently or with parental assistance.
• The government originally provided initial deposits into these accounts. Martin Lewis revealed that the typical amount stands at £2,000, meaning “everyone who has one has some money in it, if they haven’t taken it out,” he explained.
• However, the MoneySavingExpert founder issued a crucial scam warning. He said: “Just be careful of scams. Go and find the provider’s details yourself and be careful of emails, calls and texts.”

READ THE FULL STORY: Martin Lewis urges people born in certain years to check if they can claim £2k.