A lot of people receive child benefit and it is put directly into the current account along with other monetary related deposits. Why not put it into a savings account and keep it for something like the first school uniform or school fees or whatever? The Coventry Building Society has an account just for this which gives 7.25% interest for the first year. and you get a rather lovely cash card as well. Just a wee thought - might as well get something for it!
I didn't find the right solution from the Internet.