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Would Platforms like Vanguard, Iweb accept money transfers from parents bank accounts?

snowshine · 2021-04-05 07:28:36

Would money transfer from parents bank account to a child's (age 20) Vanguard ISA account be accepted to open an ISA account? All live in same address .

Comments

dunstonh Posts: 120,231 Forumite

5 April 2021 at 11:08AM

A lot of platforms will accept third party payments but will need to carry out anti-money laundering checks on the third party payers. IFAs would routinely do this but with DIY platforms, the platform would have to do it. So, I suspect many would not be willing to do so.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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