How can we help you?

A Junior Stocks and Shares ISA is a way for your children to invest in a tax-efficient fund. The funds in the account belong to your child, but they can’t withdraw any funds until they reach the age of 18.

When they reach 18 years of age the Junior Stocks and Shares ISA will convert to an adult ISA. The Junior ISA is open to children under the age of 16.

If your child already holds a Child Trust Fund, they can’t also open a Junior ISA, but the Child Trust Fund can be transferred to a Junior ISA.

You can find the full Key Investor Information Document (KIID) and Supplementary Information Document (SID) on our website (opens in a new window).

Can I add funds to a Junior ISA (JISA)?

There are a number of different ways to gift money into a Junior ISA for your child. These include setting up a direct debit or standing order, paying in by cheque or over the phone. Whichever option you choose, you should be aware:

  • Once the money is gifted it becomes the property of your child and your child cannot withdraw it until they reach 18
  • You can gift lump sums by cheque or standing order of amounts of £10 or more
  • You can gift a regular monthly amount from £10 a month

The maximum amount that can be saved by your child each tax year is £4,368. A tax year starts on 6th April in one years and runs to the 5th April the following year.

Can I withdraw from my child’s Junior ISA (JISA) account?

No. Only the child can withdraw their money in the Junior ISA when they reach the age of 18, and this has to be in totality. There are no partial withdrawals permitted.

Should the child become terminally ill before age 18, the registered contact will need to apply to HMRC for authority to withdraw the money. Where the child has passed away the Junior ISA (JISA) is payable to the child’s personal representatives subject to appropriate evidence of death.

How much can be invested in a Junior ISA (JISA)?

The Junior ISA holder, registered contact or other third parties (i.e. grandparents), have an allowance for 2019/20 (subject to annual review) of up to £4,368 a year combined that can be contributed to a Junior ISA account.

How do I change Junior ISA (JISA) providers?

You can transfer your child’s JISA with another provider to us, by completing our Transfer Form which is available on our website (opens in a new window).

You can also transfer your child’s JISA with us to another provider. You just need to contact the provider you want to transfer to, and complete their forms in order to arrange a transfer.

Which Junior ISA (JISA) should I invest in?

When deciding what to do, you have two options:

  • Savings (Cash JISA) - Low risk option that works like a normal savings account. It’s likely you’ll get back the money that you put in, plus interest on top.
  • Investing (Stocks and Shares ISA) - Investing generally means the potential for higher gains but there’s also the chance of a higher risk of losses. Your child may not get back the money you invested. When investing in stocks & shares it is recommended to invest for a minimum of 5 years.

What is the difference between Cash and Stocks and Shares?

If you have a Cash based investment you will receive a set interest rate. During low interest rate environments, returns on cash are generally lower and inflation can erode away earnings potential, so some investors prefer to take on a little more risk for potentially higher returns.

It’s important to remember that regardless of the level of risk, a stocks and shares JISA is invested in the stock market and the value of the Junior ISA can go down as well as up and your child may get back less than was invested.

Ask Cora

Cora can help you with a wide range of queries and show you how to do your banking.

Available 24/7

Find Cora in the mobile app, Online Banking or our website