Cash ISA for 16 year olds

Nil_Desperandum

I'm trying to open a cash ISA for my 16yo. Naturally I came here to find the best rates and decided fixed 1 yr would be best.

Tried to open with Charter - but says upfront - have to be 18 so no good.

Tried to open with Paragon - says 16+ but when half way through completing forms it says - please check DoB must be 18 - grrr!

Tried to open with Post Office but site down for maintenance ...

? Is it worth the MSE team checking whether the best buys are actually available for 16 year olds?

? Anyone know a decent payer which will open for 16yo to save me trailing down the full list?

Many thanks

xylophone

http://www.leedsbuildingsociety.co.uk/savings/isa-tax-free-accounts/limited-issue-online-access-isa/?utm_source=moneyfacts&utm_medium=paidaggregation&utm_term=na&utm_content=lioaccisa(7)&utm_campaign=savings
might suit.

Does your child already have a JISA?

Nil_Desperandum

xylophone wrote: »

http://www.leedsbuildingsociety.co.uk/savings/isa-tax-free-accounts/limited-issue-online-access-isa/?utm_source=moneyfacts&utm_medium=paidaggregation&utm_term=na&utm_content=lioaccisa(7)&utm_campaign=savings
might suit.

Does your child already have a JISA?

Thanks - do you KNOW this one works for 16yo (i.e. have you opened one?)

Yes he already has a JISA (err well CTF but same thing really)

xylophone

Yes he already has a JISA (err well CTF but same thing really)

In which case

https://www.skintedmintedmum.co.uk/minted-blog/how-to-transfer-a-child-trust-fund-ctf-to-jisa-with-a-double-scoop-of-tax-allowance.html

might be of interest.

Coventry BS accepts transfer in

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html

With regard to the Leeds, I haven't opened one but the terms seem quite clear

Eligibility

The account is available to individuals aged 16 or over. You must be a UK resident for tax purposes or be performing duties as a Crown employee, or be married to, or in a civil partnership with, such a person.

Nil_Desperandum

xylophone wrote: »

In which case

https://www.skintedmintedmum.co.uk/minted-blog/how-to-transfer-a-child-trust-fund-ctf-to-jisa-with-a-double-scoop-of-tax-allowance.html

might be of interest.

Coventry BS accepts transfer in

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html

With regard to the Leeds, I haven't opened one but the terms seem quite clear

Eligibility

The account is available to individuals aged 16 or over. You must be a UK resident for tax purposes or be performing duties as a Crown employee, or be married to, or in a civil partnership with, such a person.

Yes thanks for info on double bubble trf CTF to JISA I intend to do that next year. (It's an S&S CTF which I'll trf to HL where I hold his pension - just doing it as late as poss since HL charge for ISAs and Selftrade don't charge for CTFs )

On Leeds - yes Paragon was clear too, then stopped me at application process - prob just a slip-up but a pain none-the-less

Thanks again.

Alexland

Rather than a bog standard cash ISA have they considered regular contributions into a HTB ISA as the rates tend to be more attractive?

Nil_Desperandum

Alexland wrote: »

Rather than a bog standard cash ISA have they considered regular contributions into a HTB ISA as the rates tend to be more attractive?

Want to use full allowance then move to S&S ISA once 18