Learn about Junior Cash ISAs
Some things to keep in mind
How will a Junior Cash ISA help my child’s financial education?
Research has found that financial education, including the use of Junior Cash ISAs, can have a positive impact on children's financial literacy, attitudes, and behaviour towards money.
There's research to support the benefits of childrens' understanding of money.
- A study published in the Journal of Consumer Affairs found that children who received financial education were more likely to save and less likely to carry credit card debt.
- A report by the Money Advice Service found that children whose parents involve them in family finances and encourage them to save are more likely to be confident in managing their own money.
Junior ISA
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Junior ISA
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What happens to the account when the child turns 18?
When your child turns 18, their Junior Cash ISA turns into an adult cash ISA (called a Matured Junior ISA). From 18, your child can access their savings; all they'll need is to provide some ID to allow us to approve their access.
Before your child's 18th birthday, we'll send information about the specific terms of their new account so they know how to pay in and take money out.
Who’s responsible for a Junior Cash ISA?
When can my child access their savings?
If your child has a Junior Cash ISA, they can't access their savings or close the account until they turn 18. But if they want to, they can move all their savings to another Junior Cash ISA provider.
One thing to remember is that you can only hold one Junior Cash ISA at a time, so you would need to transfer any Junior Cash ISA funds in full.
Can my child open a Junior Cash ISA if they’re 16 or 17?
Yes, up until the age of 18.
As you may already know, when your child turns 18 they can only pay into one Cash ISA per year. On the childs 18th birthday we will convert the account to a Cash ISA.
What if my child has a Child Trust Fund?
If your child has a Child Trust Fund (CTF), it’s easy to transfer the savings into our Junior Cash ISA. The registered contact will simply need to fill in and sign a form, then we’ll take care of the rest. Just call us at 0800 121 8899 or pop into a branch and we’ll explain how it works.
Remember: you can only hold one Junior Cash ISA or Child Trust Fund at a time, so you would need to transfer the full balance of a Junior Cash ISA.
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on 0800 121 8899
- Mon-Fri 8am-7pm
- Saturday 9am-2pm
- Sunday & Bank holidays Closed
Yesterday, people waited on average
17 seconds for savings enquiries
17 seconds for mortgage enquiries
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on
0800 121 8899
Saturday
Sunday
9am - 2pm
Closed
Closed
Closed
8am - 2pm
Yesterday, people waited on average
34 seconds for savings enquiries
12 seconds for mortgage enquiries