Junior ISA

Dawn1_2 · 5 April 2012 at 6:33PM

I have today opened a Junior ISA for my daughter.

I have received conflicting views on the Junior ISA from the Halifax Building Society from different staff!!!

I just wondered whether you can transfer a Junior ISA like you can an adult one? When I telephoned the Halifax, one member said that I could transfer, but when I went into the Branch today, the staff there said no!

Also, in the branch, the staff member said I had access to it when the child reaches 18 years, but another member said no! Again, from doing my research, I believe the Junior ISA is transferred to an adult ISA when the child reaches 18 years, so obviously I would not be able to access it, unless anyone knows otherwise?

Please help

Bella2 · 5 April 2012 at 7:01PM

Hi Dawn1

Yes you can transfer a Junior ISA to another bank (as long as they offer Junior ISAs), you just have to move all the account (you can't leave any money in the Halifax Junior ISA.

When your child reaches 18 the money will go into an adult ISA in their name so the money you have saved will go straight to them and they will then be able to withdraw or keep it in the adult ISA.

Hope this helps :-)

pinkdalek · 5 April 2012 at 7:01PM

Yes you can transfer and it also accepts transfers in.

The Junior ISA is the child's account, you only act as a controlling adult whilst they are under 16. When they turn 18 it reverts to an adult ISA and is their money.