From next year, every child born after 1 September 2002 will receive a 250 payment, rising to 500 for those in low income families, which can be placed in a tax-free savings account until a child reaches 18.
Last week the government began to send out letters to those parents whose child is eligible for the fund and from January child trust fund "vouchers" will begin to be distributed to parents across the country.
Banks and building societies are starting to set out their investment products that comply with the government's scheme in the hope that parents might choose to invest their child's savings with them.
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