Opening ISA minimum age

FatDickie

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?

molerat

Open ISA at 16.