Junior/ Child ISA available online with any bank?

xylophone

At the moment, you have a stocks and shares JISA.

Do you want to transfer it to another provider of a stocks and shares JISA?

Or do you want to invest in both a stocks and shares and a cash JISA?

https://www.gov.uk/junior-individual-savings-accounts

https://www.moneysavingexpert.com/savings/junior-isa/

alanwils

OK - this is where I reveal myself to know very little regarding such financial matters

Is there a 'massive' difference between the two types of ISA, because my overwhelming priority is to simply view the account online, and it wouldn't matter, so much, if one gave slightly better returns than the other. A cash JISA would suffice if it were 'online viewable'

refluxer

Yes, there is a big difference. Junior Stocks and Shares ISAs are taken out by those willing to accept a certain amount of risk in return for a potentially bigger return on their money than they would get in a Junior Cash ISA, which has zero risks attached. It's essentially investing in the stock market vs saving in a bank account. Seeing as you opted for the S&S option at the time, you must have decided that the risk was worth it, so do you really want to change that decision now, simply so you can check a cash balance online ?

The problem with the high-street banks and building societies is that they often require branch visits for managing children's accounts (as you've found) so you will need to be prepared to look beyond the high-street, regardless of whether you stick with the S&S option or move over to Cash. The other option, as mentioned above, is to open a Junior Cash ISA in addition to your current Junior S&S ISA (you're allowed one of each), but bear in mind this will only allow you to view the new Cash ISA online (with the right provider) and won't help with the existing S&S ISA issue.

If you wanted to stick with the S&S option but gain online access, then I would have thought there should be providers who you could transfer over to that would allow you to manage the account online - many of them are based wholly online and don't have a high-street presence. Just bear in mind that their choice of investments (and therefore the way their products perform) are likely to be different to your current ISA, so the risks, costs (etc) will vary. Transferring a Junior S&S ISA from one provider to another will undoubtedly require more thought and research than switching Junior Cash ISAs providers, which is often simply a case of choosing a better rate.

How have their current Junior S&S ISAs performed so far ? Bear in mind that the highest-paying Junior Cash ISA is currently 2.5%, or 2.25 % with Tesco if you want to open and view the balance (and statements) online.

Also - what sums of money are we talking ? Hundreds, thousands, tens of thousands ? I'm not sure if this would necessarily have a big bearing on your decision but the larger the amount, the more likely you are to need to seek professional, independent financial advice I would have thought.

xylophone

If you wanted to stick with the S&S option but gain online access, then I would have thought there should be providers who you could transfer over to that would allow you to manage the account online -

As in my post of 30 September......... example Fidelity.

Fidelity would accept a transfer in

https://www.fidelity.co.uk/junior-isa/junior-isa-faq/#2473534

Yes, you can transfer your Junior ISA to Fidelity. The Junior ISA savings will be sent to Fidelity as cash, which can be invested once received by us.

Below might be worth a look

https://monevator.com/low-cost-index-trackers/

https://monevator.com/best-global-tracker-funds/

alanwils

Many thanks xylophone and refluxer.

I've just noticed that the Natwest Child Trust Fund is viewable online and, I'll admit, this is what I began with many years ago and; foolishly perhaps(?), transferred to a NatWest S&S Junior ISA in 2019 (which they now have discontinued with). If only I'd known.
Thanks for your very wise words, advice and education