Top Junior ISAs guide: discussion

wookie66

Just to clarify the general confusion have just today opened at my Halifax branch an adult ISA for my 16yr old (5yr fixed at 4.5%) AND a Junior ISA paying a whopping 6%. Took out full allowance for both. All applicants will get 6% on the Junior ISA as long as your child is over 16yrs - it clearly states this on the terms and condition so dont be taken in by what any advisor tells you. Ask to speak to a senior manager if they dont play ball. This is probably unknown to most parents but this is definitely a best buy at 6%. Hope this helps. Oh and dont be fobbed off by them saying you cant open an adult cash ISA and a junior cash ISA since you can. Google it!

chubster

I managed to open a Halifax junior cash ISA yesterday with an interest rate of 6% - this rate only applies if the parent opening the account has an ISA with the Halifax. They aren't exactly publicising it well, when I rang the call centre the first two people I spoke to weren't aware that there was such a product, worth looking into if you meet the conditions though http://www.halifax.co.uk/savings/accounts/branch-accounts/

deshepherd

chubster wrote: »

I managed to open a Halifax junior cash ISA yesterday with an interest rate of 6% - this rate only applies if the parent opening the account has an ISA with the Halifax. They aren't exactly publicising it well, when I rang the call centre the first two people I spoke to weren't aware that there was such a product, worth looking into if you meet the conditions though http://www.halifax.co.uk/savings/accounts/branch-accounts/

We've opened JISA for both our sons aged 12 and 16 .. in fact my wife was opening them a couple of weeks before older sons birthday and Halifax said she should wait until he was 16 to get the 6% (not sure what this means when someone with an exisitng Halifax JISA becomes 16),

However we don't have an existing Halifax ISA and my wife didn't think about opening one at same time so younger son is only getting 3% and when my wife asked when sorting out older sons JISA was told that opening an ISA now would not get the 3% bumped up to 6% - though doesn't say that on account description on website. Anyone else had any experience of this situation?

psychic_teabag

Would you transfer out and back in, to get a new opening date ? Could try that as an opening gambit, then negotiating down to an internal transfer to reduce paperwork, and then just fix the existing account to save everyone lots of time.

deshepherd

psychic_teabag wrote: »

Would you transfer out and back in, to get a new opening date ? Could try that as an opening gambit, then negotiating down to an internal transfer to reduce paperwork, and then just fix the existing account to save everyone lots of time.

Yes, I'd thought of that approach - or at minumum threatening to trandfer out elsewhere + (as is the case with some others experiences above) I suspect that the Halifax person may not have fully understood the rules as they also took the line that the JISA had been opened and there was nothing that could be done with it until son was 18.

chubster

I've just had the statement for my daughter's Halifax Junior Cash ISA and despite meeting all the conditions to qualify for the 6% interest rate the statement says 3%. Hysterical laughter ensued, ring the number on the statement to be told 'it's a childrens account so we can't answer any questions you have to go into the branch'. How are Halifax still in business?

kalsha

Chances are that if you go to the branch, there will not be anyone available to help you. That happened to me. They took my number and said someone will ring me and guess what, noone did. In the end I just wrote to the head office. I just heard from them yesterday and they are going to rectify that.

clairbear_3

Hi I opened halifax junior cash isa and want to transfer a shares isa(other provider) to it but cannot find transfer form on-line the local branch gave me a form that in hindsight was wrong unsuitable!
Anyone recommend link?
Will see if I get 6% opened adult isa shortly after

xylophone

http://www.halifax.co.uk/savings/pdf/cash-isa-account-conditions.pdf


"ISA transfers – Use our free ISA transfer service to move your existing cash ISA or junior cash ISA from another provider to Halifax. You can also transfer a stocks and shares junior ISA with another provider to a junior cash ISA with Halifax. Just give us details of the ISA you want to transfer and sign a form. We will contact your existing provider within 5 working days of receiving your instructions. Your existing provider will then have 5 working days to tell us certain information about
your ISA, and to send us the money you’ve already saved in it. Once we have received this we’ ll have a further 3 days to credit your Halifax cash ISA with the amount transferred."

It can be done it would seem. However, I cannot find a stocks and shares to cash transfer form - you'll have to ring the Halifax?

Irish_Stew_2

I have recently become a grandfather for the first time and want to start a long term savings programme for my offspring where we could add amounts monthly, but it would also be available for any other cash gifts. I looked on line and have extensively read Martin's articles and associated forums. Obviously, the Halifax saving schemes - Kids Regular Saver and the Junior Cash ISA at 6% were the most attractive that I could see although the regular saver reverts to normal variable rate after 12 months. Both of these accounts are "Branch Only".
Both my wife and I are registered disabled and both carry blue cards. The only Branch available to us is in the local main street but parking is absolutely impossible.
My question to the Forum is this - Is Halifax guilty of Age and Disability Discrimination?