With an estimated 70 per cent of Child Trust Fund (CTF) vouchers still not invested by June, financial services providers have taken steps to boost take-up this money saving opportunity.

There are now ten financial services providers offering parents the opportunity to invest their vouchers in a non-stakeholder cash savings account for their child.

Leeds and Holbeck and Monmouthshire were the last two building societies to add themselves to the list of financial services providers to offer non-stakeholder cash CTF savings accounts.

Meanwhile, Ipswich Building Society has extended its cash CTF savings account offer to people living outside the area. Everyone can now benefit from investing money in a savings account offering a market leading 6 per cent savings rate.

According to Rachel Thrussell, head of savings at price comparison website Moneyfacts.co.uk, opening a non-stakeholder account for a child is not complicated.

She also noted that there are now more choices than before for parents looking for the best, most straightforward money saving opportunity.

Every day that the voucher sits idle is another day's interest wasted, she warned, urging parents to take full advantage of the vouchers they were given by the government.

After all there is no catch, simply an opportunity to start building a nest egg for your children, Ms Thrussell explained.

Parents should jump at the opportunity to invest the vouchers in a savings account of their choice. If after a year since the voucher has been issued it has not been invested, the government will invest it on parents' behalf in a savings account chosen by government.