Where can I open a Junior ISA?

Where can I open a Junior ISA?

You can get a Junior ISA from a range of banks, building societies, credit unions, friendly societies and stock brokers.

Can I set up a Junior ISA online?

You can open an account for yourself online or in branch. You need to be resident in the UK and provide your national insurance number, if you have one. You can transfer a Junior ISA to this account in branch.

Can you transfer a Junior ISA to another provider?

Yes, it’s possible to transfer Junior ISAs between providers. Whether you can transfer in part or in full depends on the type of Junior ISA (Cash or Stocks & Shares) you want to transfer. This is because a child can only hold one of each type of Junior ISA.

What happens to my junior ISA when I turn 18?

What is going to happen to my child’s Junior ISA when they turn 18? The Junior ISA will automatically move to an Adult ISA. Your child can simply leave their savings where they are and if they wish to add further contributions or access the money, your child can do this at any time.

ISA Junior ISA better than a Child Trust Fund?

While there is no requirement to transfer a Child Trust Fund into a Junior ISA it could work out better for your child’s savings in the long term. Junior ISA’s generally offer more choice and better value, whether it’s higher interest rates on their cash accounts or lower annual fund management charges.

Can a parent withdraw from a Junior ISA?

A child’s parent or legal guardian must open the Junior ISA account on their behalf. Money in the account belongs to the child, but they can’t withdraw it until they turn 18, apart from in exceptional circumstances.

ISA Junior ISA a good idea?

Junior cash ISAs tend not to pay the highest rate of interest around but they do offer the benefit that there is no tax to pay ever on the interest earned in the account. They could also benefit parents wanting to cut down their own tax bill.

Can my child have 2 Junior ISAs?

You can switch between the two types of Junior ISA or from one provider to another whenever you like. But it’s important to do this carefully, so you don’t lose the tax-free status on the money. A child can only have one Junior Cash ISA and one Junior Investment ISA at any one time.

Can you lose money in a Junior ISA?

Can I withdraw money from a junior ISA? Your child can take control of their account from the age of 16, but they can’t withdraw the money until they turn 18. As a parent, you cannot withdraw any money from the account as it belongs to your child.