Halifax=BoS for JISA?

Karenspencer

Hi

I have seen the 4% rate for the JISA at Halifax if the parent already has an ISA. Does anyone know if having a BoS ISA (live is scotland) will count towards this? No sign of this on the BoS website... Confused about the best JISA to set up.

Thanks!

jimjames

If it requires a Halifax ISA then that's what you'll need to have to get the rate. Depending on age of the child you may want to investigate investment options as they're likely to do better than cash long term.

xylophone

BOS appear to have their own JISA

http://www.bankofscotland.co.uk/isas/cash-isas/junior-cash-isa/

Is there any reason why you cannot transfer your ISA to Halifax and thus be able to access the Halifax JISA?

Had you considered a stocks and shares JISA instead of/as well as a cash JISA?

https://www.gov.uk/junior-individual-savings-accounts/overview

http://www.thisismoney.co.uk/money/investing/article-1587994/Junior-Isa-Child-Trust-Fund-How-save-invest-children.html

DamageController

In order to take one out a few years back (when the rate was 6%) I opened a new ISA with £1. I still have that account, it still contains just over £1 and the children still get the bonus rate as a result (but it's not 6% anymore). If BoS doesn't count then maybe just open a new ISA (if you haven't made a payment or opened one this year), wait and open one next year, or open a current (or some other) account with the minimum amount.

Please post how you got on.