We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
£85k fscs protection & ISA / JISA
Options
lg13mza
Posts: 188 Forumite
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?
Between us we will soon breach £85k. I presume we have 3x £85k in this situation?
0
Comments
-
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.1
-
Brilliant, thank you.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards