Can I access my ISA without NI number 29 August 2019 at 6:56AM edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings 8 replies 1.4K views

Lotty77

I opened a Nationeide junior ISA years ago for my son and contributed to it for years until we left to live in Canada. He became 18 a few weeks ago and we have been told he cannot access the money without a NI number which he does not have because he did not get issued one at 16. We tried when he was 16 to get a NI number but it seems you have to be a UK resident. He has a Canadian SIN number equivalent to NI and he has just moved to the Netherlands for Uni where he will get a BSN. We have spent hours on the phone to Nationwide who have no policy in place for kids in this situation. Would appreciate any help on what we can do. This money is for his University fees which we cannot access!

JGB1955

According to Wikipedia


Persons from abroad who wish to work in the UK, or those to whom a number was not initially allocated as children, must apply for a number through the Department for Work and Pensions (DWP)

I guess you've tried that already.....

Alexland

At 18 the account would have changed from a JISA to an ISA.

https://www.gov.uk/guidance/close-void-or-withdraw-investments-from-a-junior-isa-as-an-isa-manager#childs-18th-birthday

I can't see anything in the ISA Managers guidance that requires a National Insurance number to be provided to support a withdrawal and account closure.

https://www.gov.uk/guidance/close-void-or-repair-an-isa-if-youre-an-isa-manager

National Insurance number would be need if there are contributions of new money into the ISA account. I suggest you write a secure message to Nationwide asking them to identify where in the ISA regulations they need the NI number to support a withdrawal?

Alex

masonic

My guess would be that Nationwide are unable to mature the account into an adult ISA without a NI number and the account is currently stuck in limbo. But there should be a route to close the JISA without converting it to an adult ISA.

Alexland

masonic wrote: »

My guess would be that Nationwide are unable to mature the account into an adult ISA without a NI number and the account is currently stuck in limbo. But there should be a route to close the JISA without converting it to an adult ISA.

I agree it may be that Nationwide are encountering IT system limitations but under the JISA rules the account is already an ISA and the beneficiary has a right to access their money. I haven't found anything that says that Nationwide are allowed to withhold access until a NI number is provided.

I think it's worth politely asking Nationwide by secure message but if they are also unable to identify anything in the ISA rules that allow them to withhold this money there may be grounds for a complaint.

Alex

masonic

Alexland wrote: »

I agree it may be that Nationwide are encountering IT system limitations but under the JISA rules the account is already an ISA and the beneficiary has a right to access their money. I haven't found anything that says that Nationwide are allowed to withhold access until a NI number is provided.

Agreed, this is Nationwide's problem. Either they have started an account conversion process they shouldn't have started or their systems are unable to properly handle this rare edge case.

Alexland

masonic wrote: »

Agreed, this is Nationwide's problem. Either they have started an account conversion process they shouldn't have started or their systems are unable to properly handle this rare edge case.

Looking into Nationwide's website in a bit more detail they seem to have a Junior ISA Maturity account which is not a Junior ISA but a Cash ISA (as it should be from age 18). However this product has a restriction that "If you make a withdrawal, you must withdraw the whole of the balance or transfer the whole of the balance to another Nationwide cash ISA or to an ISA with another ISA manager". So of course to open the new ISA account you would need a National Insurance number but you should be able to make a whole withdrawal - maybe the OP's son is trying a partial withdrawal?

https://www.nationwide.co.uk/support/support-articles/terms-and-conditions/junior-isa-maturity-account-terms-and-conditions

Alex

xylophone

Does the lad have a sterling account in his name into which the money can be transferred?

It seems to me that he should write to Nationwide giving full details of the account and his situation and asking how the transfer may be arranged.

If they prove unhelpful, then a formal complaint followed (if necessary) by a complaint to the ombudsman should follow.

londoninvestor

JGB1955 wrote: »

According to Wikipedia


Persons from abroad who wish to work in the UK, or those to whom a number was not initially allocated as children, must apply for a number through the Department for Work and Pensions (DWP)

I guess you've tried that already.....

The OP is right that you need to live in the UK to be issued a number:

https://www.gov.uk/apply-national-insurance-number

gov.uk wrote:

How to apply

To apply for a National Insurance number you must:

be in the UK
have the right to work or right to study in the UK