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Junior Cash ISA

Junior Cash ISAs are tax-free savings accounts designed to help children and their families save for their future. There are no government contributions towards the Junior Cash ISA, as there were with Child Trust Funds (CTFs). However, all Junior Cash ISA savings will remain tax-free when the child turns 18, providing their savings remain in an ISA.

In summary

  • 3.02% tax-free pa/AER variable annual interest.
  • No monthly interest option available.
  • You must be under the age of 18 to open this account.
  • Open the account with a minimum of £1 by cash (branch only), cheque, debit card, or an internal transfer from another Skipton Building Society account.
  • Subsequent payments can be made the same way and by electronic payment from another UK bank or building society (online only).
  • Maximum investment of £4,000 in the 2014/15 tax year.
  • Withdrawals are not permitted until the child reaches the age of 18.
  • Receive a passbook to help keep track of your savings.

A Junior Cash ISA meets your needs if

  • you like the idea of a variable rate of interest which can move up and down, rather than a fixed rate which is guaranteed for the term of the investment, and
  • you would like to save, tax-free until the child is 18.
  • access to the funds is not needed until the child is 18.
More details

Summary Box

Account Name Junior Cash ISA
Interest Rate
(AER)
3.02% tax-free pa/AER variable interest rate
Tax Status Tax-free. Cash ISAs are exempt from Income Tax
Conditions for Bonus Payment There are no bonus payment features on these accounts
Withdrawal Arrangements Withdrawals are not permitted until the child reaches the age of 18
Access Branch/post

Important information

Any UK resident under the age of 18 is eligible for a Junior Cash ISA. Children who already have a Child Trust Fund (CTF) in place cannot currently open or transfer their CTF savings to a Junior ISA (subject to the Budget annoucement becoming law), but contributions can still be made to their CTF. CTF customers can now transfer into other providers’ CTFs. For more information on this, please see our Child Trust Fund. From April 2015, CTFs will be able to transfer to Junior Cash ISAs.

One of the key benefits of a Junior Cash ISA is that you, your family, and your friends are able to pay into the account and make contributions towards your child’s tax-free savings, subject to the JISA limits. Your child is then able to make use of and gain access to the funds once they turn 18.

You have 14 days from the date you receive your ISA acknowledgement letter to change your mind. You can cancel your investment by letting us know in writing during this period and your cancelled ISA will not count as an ISA subscription. Any interest that you have earned on your savings during this period will be paid gross.

Please note that this only applies for new ISA applications, not transfers or product switches.

Any interest will be paid into the account annually on the day before the child’s birthday.

If you would like to transfer your existing Junior ISA to our Junior Cash ISA account, please read our Transferring Your ISA page.

For further information on ISA please see our ISAs explained page

If you would like to transfer your Junior Cash ISA held with Skipton to another Junior ISA provider, you will need to complete the ISA Transfer Authority Form supplied by your new provider.

Annual subscriptions must always be transferred in full for the current tax year.

It is important that you read the Junior Cash ISA Key Features and Further Terms and Conditions (PDF) carefully.

You should also read our Investment Account Terms and Conditions (PDF), which apply to all savings accounts.

These contain the details of your agreement with us for this account and we will rely on them for our dealings with you.

Keeping our members happy is what really matters to us. So if you think we could improve our products or services, or if you have a complaint, please let us know. If you'd like to find out more about our internal complaints procedure, please ask for details at any branch or from our Principal Office.

Alternatively, please call 0345 850 1700* or contact us at the address below:

Customer Relations
Skipton Building Society
The Bailey
Skipton
North Yorkshire
BD23 1DN

Complaints we can't settle may be referred to the Financial Ombudsman Service.

Apply

This account can be opened in branch or via a postal application.

Please ensure you read the Key Features, Further Terms and Conditions and the Investment Account Terms and Conditions, before proceeding with the account opening. The Investment Account Terms and Conditions contain important information, including details about how you can complain.

Visit your local branch for further information and to open this account.

Branch finder

This account can be opened by post. Download the paper application form below and return it with your cheque to the address shown. 

Return your form to:

Investment Operations
Principal Office
The Bailey
Skipton
North Yorkshire
BD23 1DN

Need help?

Phone Call Skipton Direct 0345 850 1722*

Mon-Thurs
8am - 8pm
Fri
8am - 5.30pm
Sat
9am - 12pm
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