Having a child is extremely expensive but millions of children across the country could potentially have up to &1,000 in their bank without knowing it.

The Hull Daily Mail reports that children between seven and 15 could have up to &1,000 in a Child Trust Fund from the Government that has been forgotten.

The fund was introduced by the previous labour government before 2010 and it gifted children &250 when they were born and a further &250 when they turned seven.

Low income families also received double payments from the Government, which means they could have &1,000 stashed away in their child's name.

How to find out if your child is included

To find out, simply head to the GOV.UK website here and enter your credentials.

Revenue and Customs will respond to claims within 15 days, plus time for postage.

Once people have access to their money, they can transfer it across to a junior ISA. The money must be transferred across from the trust fund to the junior ISA account.