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dual ISA allowance for 17 year old?

zbb
zbb Forumite Posts: 1 Newbie
edited 31 May at 2:11PM in ISAs & tax-free savings
is this still allowed?....does anyone know providers that will accept 17 year old cash isa adult £20k allowance?....Tesco/ Shawbrook saying have to be 18 yr old??...only junior £9k allowed?...thought both allowed from 16yrs were but they both said no!

Comments

  • refluxer
    refluxer Forumite Posts: 2,104
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    Yes, there are some ISA providers who allow 16 year olds to open an adult ISA in addition to any Junior ISAs they might have.

    IIRC, Ford Money and Santander are two who do, but there will be others. 
  • ForumUser7
    ForumUser7 Forumite Posts: 1,971
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    zbb said:
    is this still allowed?....does anyone know providers that will accept 17 year old cash isa adult £20k allowance?....Tesco/ Shawbrook saying have to be 18 yr old??...only junior £9k allowed?...thought both allowed from 16yrs were but they both said no!

    https://www.moneysavingexpert.com/savings/junior-isa/ point 9 - it is still allowed, but some providers have minimum age requirements.

    This year, £9k can be put in a JISA and £20k in a adult cash isa for a 17 year old IIRC

    Your local building society (if you have one) may offer an adult ISA, that is open to 16+, but @refluxer has made 2 good suggestions too.
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • xylophone
    xylophone Forumite Posts: 42,609
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    https://www.fairinvestment.co.uk/instant-access-cash-isas/
  • lon_don
    lon_don Forumite Posts: 48
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    Can the (16yo+) child open and fund (up to 20k) an adult cash ISA with a provider, and simultaneously open and fund (up to 9k) a cash JISA with a  different provider ? Or do both ISAs have to be with the same provider ? 
  • refluxer
    refluxer Forumite Posts: 2,104
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    lon_don said:
    Can the (16yo+) child open and fund (up to 20k) an adult cash ISA with a provider, and simultaneously open and fund (up to 9k) a cash JISA with a  different provider ? Or do both ISAs have to be with the same provider ? 
    Each ISA can be opened with a different provider if you wanted to do that.
  • xylophone
    xylophone Forumite Posts: 42,609
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    Will the parent (s) be gifting the money for the adult ISA?

    If so, see

    https://forums.moneysavingexpert.com/discussion/comment/80093888/#Comment_80093888 

    https://forums.moneysavingexpert.com/discussion/comment/80095991/#Comment_80095991
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