Cash ISA age limit

millyd40

I understand you can open a cash isa age 16+ but why do some providers still state you must be 18+ ?

A number of the best buys on MSE fall into this category

jimjames

It'll be irrelevant as of April when the limit is 18 . They can choose who they want to offer to so if you need the allowance then do it before April with whichever allows it.

Edited to correct as below - thanks eskbanker!

eskbanker

jimjames said:

It'll be irrelevant as of April when the limit is 16.

Just to be clear, from April the minimum age changes from 16 to 18!

millyd40

Thanks! I didn't realise there was change coming. So a provider can simply ignore the following gov.uk info if they want to?

Who can open an ISA

You must be:

• 16 or over for a cash ISA

eskbanker

millyd40 said:

Thanks! I didn't realise there was change coming. So a provider can simply ignore the following gov.uk info if they want to?

Who can open an ISA

You must be:

• 16 or over for a cash ISA

Yes, providers are free to set their own age limits as subsets of the overarching limits if they choose to, so could, for example, offer a product to those aged between 27 and 29 if they felt that was appropriate!  They couldn't offer an adult ISA to 15 year olds though....

xylophone

As above, adult cash isa will only be available to 18+ from April 6.

Until then, have you considered Leeds BS?

https://www.leedsbuildingsociety.co.uk/savings/cash-isas/limited-issue-online-access-isa/

• This account is only available to individuals aged 16 and over. 

• The account can be opened via our website at www.leedsbuildingsociety.co.uk

millyd40

I had not seen Leeds BS, it looks quite good, thank you. Until now I had settled on Principality BS: 

Online Bonus ISA Issue 4

This is also a 16+ paying 5% (0.90 bonus for the first 12 months)