£85k fscs protection & ISA / JISA

lg13mza

I've got a s&s isa with vanguard and my two sons have jisa also with vanguard which appear in my online portal as I opened them.

Between us we will soon breach £85k. I presume we have 3x £85k in this situation?

masonic

Money in a JISA belongs to the child, and you will each have £85k protection for your investments with Vanguard.

The £85k limit is much less important for investments, as these are held in a ring-fenced nominee account and not available to the provider. This is in contrast to deposit accounts where the money is effectively lent to the bank or building society to use in the course of their business. FSCS compensation would cover missing assets, and the administrators' costs in returning the investments. it is highly unlikely costs would come anywhere near £85k per customer.

lg13mza

Brilliant, thank you.