Who can open a Junior ISA?

Whether you’re a parent, a grandparent or a family friend, saving for a young person’s future is a great way to help them along the road to financial stability.

Although only a parent or legal guardian can open a Junior ISA, they’re not the only ones who can help save for a young person’s future.

Who can invest money in a Junior ISA?

If you’ve decided to open a Junior ISA for your child, you’ll be able to pay money straight in. But did you know that once it’s set up, anyone can pay into the Junior ISA account?

All you have to do is provide them with the account number of the Junior ISA you want them to pay into, along with the child’s date of birth. If it’s a OneFamily Junior ISA, we even have a helpful ‘Making a payment’ page, where they can easily pay in online.

Each year, up to a maximum total of £9,000 can be paid into the Junior ISA account, by yourself and others.

Can a grandparent open a Junior ISA?

A grandparent can only open a Junior ISA for a child if they are their legal guardian. Otherwise, they will not be able to open a Junior ISA account, but can still contribute to their grandchildren’s future by paying into one a parent has set up.

Does the government pay money into a Junior ISA?

The government does not pay money into Junior ISAs. This type of ISA is purely for saving and investment for a child’s future, maturing when they turn 18 years old.

This differs from products like the Lifetime ISA, which the government will pay into if you hit certain saving criteria, but is only available from age 18 to 39. It can then only be redeemed for the purposes of buying a first home, or on retirement.

The reason a Junior ISA makes such a good choice for young people is that everything paid in, plus any profit earned, will be tax-free - allowing you to save more than you normally would for their future.

How many Junior ISAs can you have?

You can open one of each Junior ISA per child. For example, one may be a Stocks and Shares ISA and one may be cash. Once one has been opened, you can then pay into that account as you see fit, and encourage others who would like to contribute, to do so too.

When can a child access the money in their Junior ISA?

A child with a Junior ISA account in their name can only access their money when they are over the age of 18. Once they have reached their 18th birthday then the money will automatically go into a Junior ISA. They will be notified of this ahead of time and given the choice to keep saving or to spend the money as they wish.

Give your kids the head start they deserve

As a five-time award winning Junior ISA provider, we have plenty of experience in helping families invest in their children’s future.

Discover our Junior ISA