Junior ISAs

NP2024

My son has set up a Junior ISA for his child and I now want to put money into this ISA as their grandmother.

I understand that I can't put the money in directly. Only via my son. My understanding was that once the parent has opened the ISA then anyone can pay into it. This doesn't seem to be the case.

What if my son were an undischarged bankrupt, or a feckless spendthrift, or just had a massive overdraft? He isn't by the way! But how could I then pay money into the junior ISA if it had to be paid via him and his bank account?

This seems totally illogical to me.

Does anyone know if this information is correct, or is it just a requirement of the particular company we are with? Fidelity.

eskbanker

Fidelity's published information differs from what you've been told:

Who can contribute into a Junior ISA and how?
Anyone (including grandparents, other family members or friends) over the age of 18 can contribute to a Junior ISA

https://www.fidelity.co.uk/junior-isa/junior-isa-faq/#accordion-ec6576be

refluxer

As mentioned, Fidelity's own site states that you should be able to pay into it.

I guess it's possible that they may have changed the rules though, so it would make sense to check the T&Cs of the account that your son signed up to if it was a while ago.

Keep_pedalling

What a rubbish site, it tells you what can be done but not how. Our GCs ISAs are with Vanguard and we can make payments to their ISAs from the Junior ISA section just by clicking on the gift money tab.

https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa

I suggest you ring Fidelity and ast them how you add money.

xylophone

https://www.fidelity.co.uk/forms/accounts-children/#accordion-2288915e

https://www.fidelity.co.uk/media/PI%20UK/pdf/forms/isa/junior-isa-application-form.pdf

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/81992468#Comment_81992468

You have to log in to the account to add cash so no really helpful for grandparents.

xylophone

https://www.fidelity.co.uk/media/PI%20UK/pdf/forms/isa/junior-isa-application-form.pdf

Any relatives or friends who would like to make regular payments into the account should complete sections
6, 7 and 8.

6 About a relative or friend paying into this Junior ISA
T 0 0 7 1 0 0 7
To help prevent fraud and money laundering we need to check your identity. We may be able to do this online using the
information you give us below. The check will create a record on your credit report, which will only be visible to you and
will not affect your credit score.

You should complete this section if you want to make a lump sum payment into the Junior ISA as a friend or relative.

The lump sum will be deposited into cash. The registered contact can then select investments on behalf of the child using
our online service. Please include payment by cheque with this form.
Important: Cheques should be issued from a personal or joint bank account. Cheques must be payable to Fidelity
and include the account holders name e.g. ‘Pay Fidelity – re John Smith’. If an application is accompanied by a bankers
draft or building society cheque, the reverse of the draft / cheque must contain details of the original account debited; full
name, account number and the sort code. Cheques must be endorsed with the banks official stamp.
You should complete this section if you want to make regular payments into the Junior ISA as a friend or relative. We will
write to you saying when we are going to collect your payments each month.
Fund code Fund name Lump sum (£)
CASH •
• The minimum regular payment is £50 in total, and £25 per fund.
Amount you will invest each month

8 Declaration and signature of relative or friend paying into this Junior ISA