Process to open Junior S&S ISA

george4064
george4064 Forumite Posts: 2,751
Part of the Furniture 1,000 Posts Photogenic Name Dropper
Forumite
edited 21 November at 8:20AM in ISAs & tax-free savings
I’m going to help a friend of mine setup a Junior S&S ISA for their baby who is about 1 year old, I was planning on helping the baby’s mum open an account with Vanguard and I wanted to understand a few things first:

1. Does the child need a ‘child’ National Insurance number before applying? If so, how do you get this?

2. Does the child need some sort of ID like a passport? I don’t even think such a young baby would have one yet?

3. I believe Vanguard is a good option for the Junior S&S ISA, but does anyone have experience with Vanguard for this type of account? Or any strong recommendation for an alternative platform?

4. Do I need to be wary of minimum investments amount? I think with Vanguard the minimum investment (£500) only applies when first open the account (do they actually enforce this?) so after that we could gift say £50 or £100 a year that can be deposited and invested within the account.

Many thanks in advance
"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

Save £12k in 2021 - #027 £15,268 (76%)

Comments

Meet your Ambassadors

Categories

  • All Categories
  • 340K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.2K Spending & Discounts
  • 231.8K Work, Benefits & Business
  • 602.9K Mortgages, Homes & Bills
  • 171.6K Life & Family
  • 245K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards