Top Junior ISAs guide: discussion

mousey55

Does anyone know the answer please ?
my daughter is 16 and has Forester Life child trust fund stakeholder options. I can’t see what average interest this is receiving. My question is whether it is advisable to transfer it to the NS&I Jisa where the rate is good atm, or is it best to just leave it alone ?
Would very much appreciate advice on this if anyone can help. Thank you 😊  

xylophone

my daughter is 16 and has Forester Life child trust fund stakeholder options. I can’t see what average interest this is receiving.

 This is a unit linked  stocks and shares CTF - it is not paying interest but you would hope that there has been growth over the years of investment.

You have on line access so should be able to see the value of the CTF.

It is possible to transfer out to a cash based JISA which does pay interest.

You would need to contact the JISA provider to arrange the transfer.

mousey55

Thank you for your help. I will take a look at the value, it won’t be much as we haven’t added anything to it, maybe it’s best left where it is for the final 20 months 🤔 

saq12

Hi my daughter is 8months old i have started her a junior isa with NS&I, i was wondering would it be better to move to S&S junior isa with vanguard or stay with NS&I?

Thanks

elliepson

I have just changed my daughter’s Halifax junior ISA (which was previously a child trust fund) over to NS&I due to Halifax slashing their interest rates. Her grandad has always transferred money into it on birthdays etc but I have just been told that only the ‘registered parent’ can transfer money into an NS&I junior ISA. Is this correct?? No warning of this being how it works or any information anywhere on the website 😩

deeor

These accounts are digital and anyone can contribute so long as they know the relevant account details. I have a standing order to my granddaughter's account which was set up by her father.

refluxer

elliepson said:

I have just changed my daughter’s Halifax junior ISA (which was previously a child trust fund) over to NS&I due to Halifax slashing their interest rates. Her grandad has always transferred money into it on birthdays etc but I have just been told that only the ‘registered parent’ can transfer money into an NS&I junior ISA. Is this correct?? No warning of this being how it works or any information anywhere on the website 😩

Anyone can pay in to an NS&I Junior ISA - I'm a new forum member so can't post links, but if you visit NS&I's site (without logging in), choose Junior ISA, scroll to the bottom and click on 'Pay money in', it says "The person who looks after the Junior ISA can pay in by debit card. And anyone can pay in by bank transfer and standing order."

All the details he needs to make a payment are in the table in that section. Note you must use 'NS&I' as the payee name (not your child's name) and use NS&I's own bank details, but put your child's Junior ISA account number (important !) as the online payment reference. 

I've just transferred in to an NS&I Junior ISA too - did you spot they've dropped their rate to 1.5% ? 

chrish123456

 

I've just transferred in to an NS&I Junior ISA too - did you spot they've dropped their rate to 1.5% ? 

I moved my daughter's CTF to NS&I JISA last year, trying to work out if I'm gonna be better moving it again, or if all of the banks are gonna be slashing their rates.
Coventry and Tesco currently the highest, but thinking it might be best waiting until the end of the year and seeing how other accounts are affected before making a decision.

reg091

chrish123456 said:

 

I've just transferred in to an NS&I Junior ISA too - did you spot they've dropped their rate to 1.5% ? 

I moved my daughter's CTF to NS&I JISA last year, trying to work out if I'm gonna be better moving it again, or if all of the banks are gonna be slashing their rates.
Coventry and Tesco currently the highest, but thinking it might be best waiting until the end of the year and seeing how other accounts are affected before making a decision.

With you there. I transferred to NS&I FROM Coventry in March this year (took three months to process mind you). Now it looks like I will be moving back again! As you say though best to wait and see what Coventry and Tesco do as it seems unlikely they could sustain those rates (let alone cope with the demand of everyone moving to them).

reg091

Tesco dropping to 2.25% 1st December. So, Coventry standing out at 2.95% - can't believe they are going to keep that rate for long though.