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There are no risks above and beyond those normally experienced by the mother and child at the time of birth.
Most hospitals routinely collect cord blood at birth, since it is relatively convenient and birth is the only time it is possible to do. Some parents choose to have cord blood banked, believing it night be useful later if the child has a condition that would require a bone marrow transplant. Cord blood banking for personal use is done by private companies, which charge for the service.
However, experts say that cord blood is rarely needed and often cannot be used because it contains the same cells that caused the disease in the child.
American Academy of Pediatrics Section on Hematology/Oncology, American Academy of Pediatrics Section on Allergy/Immunology, Lubin BH, Shearer WT. Cord blood banking for potential future transplantation. Pediatrics 2007 Jan;119(1):165-70.
Kliegman RM, Behrman RE, Jenson HB, Stanton BF, eds. Nelson Textbook of Pediatrics. 18th ed. Philadelphia, Pa: Saunders Elsevier; 2007.