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Opening ISA minimum age
FatDickie
Posts: 74 Forumite
My son will be 16 in a few months, although still has another year in school.
He is a great little saver, gets up at the crack of dawn for a paper round and never misses a morning.
In the 18 months from his "wages" he has treated himself to a new phone, laptop computer and PS3, but still managed to amass a small fortune of just over £1,000.
He has this in a normal Halifax building society as this is all he can do, and getting less than 1% interest.
I believe that the minimum age to open an ISA is 16.
Can he open an ISA on his 16th birthday or does he need to have left school first.
Is there somewhere else he could stash his dosh?
He is a great little saver, gets up at the crack of dawn for a paper round and never misses a morning.
In the 18 months from his "wages" he has treated himself to a new phone, laptop computer and PS3, but still managed to amass a small fortune of just over £1,000.
He has this in a normal Halifax building society as this is all he can do, and getting less than 1% interest.
I believe that the minimum age to open an ISA is 16.
Can he open an ISA on his 16th birthday or does he need to have left school first.
Is there somewhere else he could stash his dosh?
Mortgage and totally Debt Free as of December 2008.
boy does it feel good!
boy does it feel good!
Thanks MSE for all the tips and advice
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Open ISA at 16.0
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