Friends & Family Junior ISA

Our Friends and Family Junior ISA is a Stock and Shares Junior ISA, where your child's savings will be invested in our With Profits Fund. This gives a low to medium risk return and aims to achieve higher returns than a cash fund, whilst offering a guarantee to the member.

A child can only hold one stocks and shares Junior ISA along with one cash Junior ISA. Alternatively, they can have one Child Trust Fund (CTF), however, you can transfer an existing Junior ISA or CTF into our Junior ISA.

Under 16?
A parent or guardian, with parental responsibility, needs to open the account.

Aged 16 to 17?
You're free to open your own account.

Whoever opens the account will be the Registered Contact for the account. When they hit 16, the child can apply to become the Registered Contact.

The child must be a UK resident at the time of opening the account.

Yes. If you're opening your first Junior ISA simply apply online by clicking here.

If you prefer a paper application form, you can download one here.

Alternatively you can enquire about a product here.

Yes you can, though a child can only hold one stocks and shares Junior ISA and one cash Junior ISA OR one CTF.

To transfer, simply contact us for an application form.

That's easy. Once the Junior ISA is open, the Registered Contact is given access to the online dashboard. From there, they can set up a regular payment by Direct Debit or make a payment using a debit card.

A Share button lets the Registered Contact send a secure link to friends and family so they can make payments into the account. They can leave a message with every payment for the child, allocating the money to a named savings pot. This gives an indication how they'd like the money to be spent, however, the child has the ultimate choice when they receive the money.

Only the Registered Contact and account holder (if different) can see the payments in and messages left for the child.

We cannot refuse any payments made into the account, unless the Government annual limit has been reached. Cheques can be accepted by post but must have the account holder's name and account number on the back. All payments made into this account are gifts to the child and can't be returned to the payer.

The Government sets the maximum limit for investment into a Junior ISA within a tax year. This maximum limit can be split between a Cash and Stocks and Shares Junior ISA, or all paid into one.

We accept regular payments of £5 or more per month and one-off payments from £10 up to the Government's annual maximum limit. The current maximum that you can invest in a Junior ISA is £4260 for the 2018/19 tax year.

Yes. You're free to stop, start or change your payments at any time.

Certainly! In fact, you have 30 days to change your mind, just complete and return the cancellation notice.

For new applications, a refund of any payments in to the account will be made.

For transfers, we don't request that fund from your current provider until the cancellation period has ended.

No. Nothing can be withdrawn from the account until the child's 18th birthday.

Yes, both. Our Junior ISA guarantees everything paid into it, plus all the bonuses declared on it, on the child's 18th birthday.

Bonuses are declared at the end of each year and depend upon the performance of the With Profits Fund. This is called a Reversionary Bonus and once declared it can't be removed.

As a Friendly Society, we ensure that all our members receive a fair share of any investment returns. Therefore we regularly check that you have the correct bonuses to achieve this and if appropriate we may add a Final (Terminal) Bonus to any withdrawals when made.

Please see our Guide to the With Profits Fund for more information.

We'll send out an annual statement to the Registered Contact with details of any payments made and Reversionary Bonus added throughout the previous year. You can also log on to your account dashboard at any time to check the current balance.

To cover the expenses of running the society, we currently charge 1.5% of the policy value which is reviewed each year. The charges will be taken out of the investment returns before we declare a bonus.

We'll pay out 101% of the value of the Friends and Family Junior ISA in the tragic event of death or diagnosis of a terminal illness.

Please contact us if this happens.

You can't close this account before the child's 18th birthday. You can, however, transfer to another provider whenever you wish. Please contact your new provider if you would like to transfer. Depending on the investment returns at the time of transfer, a Market Value Reduction (MVR) may be applied to the account.

Please see our Guide to the With Profits Fund for more information.

We'll contact the child before their 18th birthday to let them know their options.

They can keep the tax-free status as the account rolls into an Adult ISA or if they wish to withdraw the funds, they'll need to apply to the society within 7 days of their 18th birthday. We may ask them for ID before any payments are made.