Fidelity JISA

thegentleway

My sister wants to open a JISA for her children as our mum wants to gift them money (more that £1k each). My mum would prefer to pay directly into the JISA (which I gather is fine once my sister has opened it). My sister can't open them with £1k lump sum so I'm guessing she can open with £25 regular invesment plan and cancel the regular investment once my mum has paid into the JISAs? Thanks

Alexland

Seems reasonable but I was able to open our children's Fidelity JISAs without making any contribution by saying they had existing accounts to transfer. I then hit an issue and cancelled the subsequent transfer process (as Fidelity didn't have the existing provider in their list) so the accounts sat empty for a week while I messaged them to add the provider then started the transfer process again.
It might be worth checking with Fidelity on how your mum will be able to directly adhoc contribute (or invest) as it's not clear to me how this can be done on Fidelity without logging in via your sister's adult account or setting up a regular DD 'savings plan'. It's best not to share adult login details especially as they provide access to any other Fidelity accounts!

mika_dm

Alexland said:

It might be worth checking with Fidelity on how your mum will be able to directly adhoc contribute (or invest) as it's not clear to me how this can be done on Fidelity without logging in via your sister's adult account or setting up a regular DD 'savings plan'. It's best not to share adult login details especially as they provide access to any other Fidelity accounts!

With Vanguard or HL you can add money into JISA without the need to log into the adult login.
From Vanguards Website:

Gift money

Add money without opening an account or logging in.

You will need:
Child's Junior ISA account number; Child's name, and Your Debit Card details.

GIFT MONEY.

thegentleway

mika_dm said:

Alexland said:

It might be worth checking with Fidelity on how your mum will be able to directly adhoc contribute (or invest) as it's not clear to me how this can be done on Fidelity without logging in via your sister's adult account or setting up a regular DD 'savings plan'. It's best not to share adult login details especially as they provide access to any other Fidelity accounts!

With Vanguard or HL you can add money into JISA without the need to log into the adult login.
You add the account number ID and can add money to account without to need to log in.

Thanks but Vanguard and HL charge for JISAs (0.15% and 0.45% respectively I think)

mika_dm

thegentleway said:

Thanks but Vanguard and HL charge for JISAs (0.15% and 0.45% respectively I think)

I was just saying you can chip in without to need to login.
It wasn`t an advise to change platform 

Alexland

mika_dm said:

I was just saying you can chip in without to need to login.

Yes I have seen that before with other providers but though it might be worth understanding what is possible with Fidelity as the only answer they seem to have is completing another paper application form presumably with a cheque. It's not even clear how to use section 2 of this form if you are not the registered contact.
https://help.fidelity.co.uk/site/dealing-and-managing-cash/contribute-to-a-junior-isa

thegentleway

Alexland said:

mika_dm said:

I was just saying you can chip in without to need to login.

Yes I have seen that before with other providers but though it might be worth understanding what is possible with Fidelity as the only answer they seem to have is completing another paper application form presumably with a cheque. It's not even clear how to use section 2 of this form if you are not the registered contact.
https://help.fidelity.co.uk/site/dealing-and-managing-cash/contribute-to-a-junior-isa

Yeah I read that but found it confusing. When you "add cash", it does give you the option to use somebody else's card so shouldn't be too hard for my mum to pay directly in once social distancing is relaxed and they can get together.