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B&B bungle throws parents into turmoil

A letter sent in error by Bradford & Bingley has thrown thousands of parents into confusion over windfalls for their children.


For the past few months B & B has implied that its 200 000 young savers will receive windfall shares when it is floated on the stock market later this year.


But a letter saying trustee account-holders do not qualify for windfalls unless the child is incapacitated was sent in the past week to many of B & B&#39s three million members.


This weekend, Bradford & Bingley said that though the letter had gone out to three million members, it was targeted at carers. &#39This letter is aimed at members who operate savings accounts on behalf of people they care for,&#39 it said.


Members should not read into it that children who have savings accounts set up on a trustee basis will necessarily be excluded from shares.

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