Junior/ Child ISA available online with any bank?

alanwils

Are there any banks out there that offer an online utility; i.e. the parent is able to view/ access their child's Junior/ Child ISA account? This is to add money and generally 'keep an eye on it' (not interested in withdrawing money)

We started with NatWest Child Trust Funds then transferred them to Junior ISA thinking they'd be able to access them online, but we can't   (Our children are now 7 and 11)

eskbanker

https://www.moneysavingexpert.com/savings/junior-isa/#bestbuys lists Tesco as an online option, and https://www.tescobank.com/savings/isa-accounts/junior/ seems to confirm that the responsible adult can have online access.

Such access shouldn't be necessary for paying in though, as this can be done directly by transfer from the linked current account.

Re "not interested in withdrawing money", this should go without saying for JISAs, as the scheme rules mandate that withdrawals aren't allowed until the child reaches 18 anyway....

refluxer

As you've probably spotted, many Junior ISA accounts can only be opened and managed in branch or by post however, as suggested above, Tesco Bank are currently paying the 3rd-highest rate @ 2.25% and their Junior ISAs can be both opened and managed online.

I opened an account recently and requested the transfer of my daughter's Nationwide Child Trust Fund which did take many weeks to process, but it is now all set up and I can confirm that you can keep an eye on the balance and access statements using the Tesco Online Banking site and phone app. You don't add money to it this way though - that would be done via your own online banking as an external/faster payment using their account details.

I also took the opportunity to open a Tesco Internet Saver Account, which is currently the second-highest paying instant access savings account @ 0.59%.

alanwils

Re "not interested in withdrawing money", this should go without saying for JISAs, as the scheme rules mandate that withdrawals aren't allowed until the child reaches 18 anyway....

Yes, I deliberately included that line to confirm that we obviously seek an online account to view only; to 'keep an eye on' as it were, especially in these volatile times. I'm very surprised that none of the 'big boys of banking' are offering this online access (NatWest, Lloyds, Barclays etc) - we all now live in this transparent, online banking world where everything can be viewed and accounted for - for reassurance above everything else 

BTW, would a bank (in our case NatWest) charge or transferring a Junior ISA into a new provider, such as Tesco? Thanks

refluxer

alanwils said:

BTW, would a bank (in our case NatWest) charge or transferring a Junior ISA into a new provider, such as Tesco? Thanks

I've transferred a number of Cash ISAs (easy access so not within a fixed term) and transferred two (cash) Child Trust Funds into two Junior ISAs (all from one provider to another) over the past year or so and haven't been charged or suffered any penalties.

You need to make sure that the new account allows transfers in, that the T&Cs for the old account allows transfers to another provider without penalty and then arrange the transfer properly with the new provider via the process they provide.

In my experience, the new provider will deal with the whole transfer process and I haven't had to deal with the existing provider at all. You may need to be patient though - transferring a Nationwide CTF to a Tesco Bank Junior ISA took just over 5 weeks for me, as the transfer process sometimes involves cheques and you need to post a form or two off (if you're not already a Tesco Bank customer). Interest is back-dated though, so no interest is lost during the process.

Incidentally, I'm presuming you're talking about cash accounts ? Stocks and shares products could work differently.

alanwils

"Incidentally, I'm presuming you're talking about cash accounts ? Stocks and shares products could work differently"

Its a "NatWest Junior ISA -  stocks & shares ISA" (RBS Stakeholder Fund)

eskbanker

alanwils said:

"Incidentally, I'm presuming you're talking about cash accounts ? Stocks and shares products could work differently"

Its a "NatWest Junior ISA -  stocks & shares ISA" (RBS Stakeholder Fund)

Ah, I think we'd assumed cash from your references to looking for JISAs from banks - S&S JISAs are available from a range of providers, including platforms such as HL, Fidelity, etc, or are you wanting to transfer from S&S into cash?

xylophone

S&S JISAs are available from a range of providers, including platforms such as HL, Fidelity, etc, or are you wanting to transfer from S&S into cash?

It seems that the primary requirement is for the OP to be able to view and manage on line?

Example

https://www.fidelity.co.uk/junior-isa/

Always at your fingertips

Manage investments 24/7 with our secure online service and apps

eskbanker

xylophone said:

It seems that the primary requirement is for the OP to be able to view and manage on line?

Agreed that this is what was posted, but establishing what type of JISA is required takes precedence over the detail of how to manage it!  OP seemed to be considering Tesco as a potential destination, but that was mentioned in the context of a misunderstanding about what he currently has and is obviously irrelevant if he wants/needs a S&S product going forward....

alanwils

Priority is to view online. I was going to go forward and open a Tesco JISA ...that idea is still 'fine' isn't it?

refluxer

alanwils said:

Priority is to view online. I was going to go forward and open a Tesco JISA ...that idea is still 'fine' isn't it?

The Tesco Junior ISA is a cash ISA - you have a stocks and shares ISA