What happens if the Child Development Account (CDA) trustee is changed?
If the CDA trustee is changed, the existing Child Savings Account (CSA) will be converted to a normal joint savings account under the bank's standard terms. Any balance will remain in the account. A new CSA will be automatically opened with the new CDA Trustee, any remaining Baby Bonus Cash Gift will be paid into the new CSA.
Related questions
Can I change bank for the Child Development Account (CDA) and Child Savings Account (CSA)?
When do I need to change the Child Savings Account (CSA) joint account holder and Child Development Account (CDA) trustee?
I just found out that my child has joined the scheme without my agreement. Can you change the Child Savings Account (CSA) and Child Development Account (CDA) trustee to me?
How do I request a change in the Child Development Account (CDA) Trustee and Child Savings Account (CSA) Joint Account Holder?
Need more help?
Get in touch