Childrens ISA - providers that can offer both cash and S&S ISAs?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81949186#Comment_81949186

While it's undoubtedly true that at 18 they'll have absolute control over this money (and anything else in their names), there has to be a line drawn somewhere, and who's to say that 21 or 16 or whatever would be more appropriate, so, knowing that it's 18, it's not unreasonable to expect parents to do the parenting and include some financial education…

mither_2

Agreed. Its up to us to explain to them that they need to think longer term and this was the intention of the money. Whatever the amount i would encourage them not to talk about it aroudn others that may not be receiving such funds from their parents.

mither_2

Further to this conversation its my understanding that when the ISA matures on the child's 18th birthday they can immediately transfer the funds to another ISA in their name and so can preserve the tax benefits?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81979627#Comment_81979627

They can, if they choose to…

mither_2

Or they can go out and spend it all. Hopefully we can educate them and encourage the idea that there won't be any more to come and to use it wisely.