Looked into childrens premium bonds for my 2 nephews for christmas and the future etc but you can only do it for your own children or granchildren.

Any other ways or accounts that people recommend?

Will not be paying money in every month either, just randomly as and when.

Thanks, Maurizio.

Child isas or child trust funds. Depends on the exact requirements. Trust fund would be more controlled by you, isa I think would be parents responsibility.

I have a regular saver for my son via N&P, the interest rate is reasonable and the account is in my name.

I knew a few people who had family accounts in their name and the moment they turned 18 the spent the lot on cars, beer and going out, not something more sensible like a deposit for a house!