I’m a savings expert – your child could have £1,000 in a SECRET bank account and here’s how to find it

YOUR child could have £1,000 stashed away in a hidden pot of cash, savings expert Holly Mackay said.

Parents could track down their kid's Child Trust Fund (CTF) and potentially uncover thousands of pounds of cash.

Child Trust Funds is a Government initiative for children born between September 1, 2002 and January 2, 2011.

You can't get one now - they were replaced by Junior ISAs in November, 2011.

When the CTF scheme was running, parents and guardians received a voucher to deposit into their child's account.

Parents could use the voucher to set up a CTF in their child's name.

But latest figures show that up to 100,000 teens are missing out on the free cash.

That's why The Sun asked savings and investment expert Holly Mackay, founder of comparison website Boring Money, for her tips on how to hunt for forgotten accounts.

She’s one of the experts on our Squeeze Team panel - here to help you save money and give advice on rising bills and costs.

If you’re worried about making ends meet, are struggling to pay off your debts or don’t know how best to manage your cash, get in touch by emailing Squeezeteam@mcb777.site.

How much could be in my child's CTF?

The amount of cash that could be sitting in forgotten CTFs will vary.

Parents were given vouchers worth between £50 and £1,000 depending on when the child was born, as well as whether parents were on a low income at the time.

If parents didn't set up a CTF on behalf of their child and cash in the voucher, HMRC would step in and do this on the child's behalf.

Ms Mackay said that your child could be in line for a nice boost if they recover their missing pot.