Halifax Junior Cash ISA

hugo15

My two children both have cash child trust funds. I want to move them to a junior ISA and was looking at the Halifax. I see the rate paid is more if I have a cash ISA with the Halifax. From what I have read I could open a cash ISA with £1 and then the kids will get 4% rather than 3%. Seems too easy..... have I missed something?

I'm not likely to use my cash ISA allowance in 2015/16 as my wife is a non-tax payer so currently using the Santander 123 account.

PeacefulWaters

I dint think you've missed anything.

Key bit:

From April 2015, a Child Trust Fund can be transferred into a Junior Cash ISA. This can be done at your local branch.

http://www.halifax.co.uk/isas/isas-explained/common-enquiries/?srnum=10

hugo15

Just a quick update. I've opened a cash ISA with £1 and junior ISAs for my two girls. Got confirmation letters today that they will both get the additional 1%, which will net them nearly £100 between them. Not a bad return on £1!