17th January 2022

Who can open a Junior ISA?

We often find that people delay opening an ISA as they are unsure of the rules or put it off as they assume it is full of complicated admin. However we’re here to tell you that it’s as easy and simple as one, two, three… (or ordering online). We can guarantee that it will take just one afternoon to set up, activate and begin saving for your child’s future.

It’s worth your time, and your child will definitely thank you in the future. A Junior ISA isa good savings choice for young people is that everything paid in, plus any profit earned, will be tax-free – allowing you to save more than you normally would for their future.

Here at The Children’s ISA our main goal is to help everyone invest as fuss free and appropriate to them as possible. That’s why if you are thinking of opening a Junior ISA or simply don’t know where to state we’re here to help, with a handy breakdown of some of our frequently asked questions. 

First up, who can open a Junior ISA?

This is by far the most asked question! The parents or legal guardian of the child can open the account in the child’s name. Once the account is set up, anyone from friends or grandparents can contribute.

How can friends and family pay into a Junior ISA?
If you’ve decided to open a Junior ISA for your child, you’ll be able to pay money straight in. For friends and family all you have to do is provide them with the account number of the Junior ISA you want them to pay into, along with the child’s date of birth. If you have opened the ISA through The Children’s ISA we’ve made it so simple that they can pay the money online, it’s so straightforward and they can literally pay in following a few easy steps. That means whether you’re a grandparent wanting to pay into a Junior ISA for your grandchild, an aunt wanting to pay in money for your niece, or just a family friend wanting to contribute, it’s easy to do so.

How much can you pay into a Junior ISA?
This depends on the government guidance for each year, currently, you can pay up to a maximum total of £9,000 can be paid into the Junior ISA account. This is as a whole sum, including contributions from others.

How many Junior ISAs can you have?
You can open one of each Junior ISA per child. For example, one account may be a Stocks and Shares Junior ISA and one may be a cash ISA. Unsure which one to open first? You can find out more here.

When can my child access their Junior ISA money?
Once your child has reached their 18th birthday then the money will automatically go into an adult ISA. They will be notified of this ahead of time and given the choice to keep saving or withdraw the money and put it towards their first steps into adulthood.

© The Children’s ISA Ltd 2022. All rights reserved.

The website and the information contained therein should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK. Past performance is not necessarily a guide to future performance and the value of your investment may fall as well as rise, and any income received in the form of dividends may fluctuate. You may not get back the full amount when the account is closed. If paying regular monthly contributions please bear in mind that if contributions are not maintained you will be less likely to achieve the investment amount that was originally projected.

The information on this website is not advice, it is provided solely to enable you to make your own investment decisions. The investments and /or investment services referred to may not be suitable for all investors.

The Children’s ISA Limited is authorised and regulated by the Financial Conduct Authority. (FCA No: 563043)
The Children’s ISA Limited is a company registered in England and Wales. Registered Company Number: 07486015

Registered Office: Unit 2, Digital Park, Pacific Way, Salford Quays, M50 1DR