Halifax Junior ISA
Compare Junior Stocks & Shares ISAs From £10 pm!
- Fund Choice: 10 managed portfolios to choose from. Choose your risk profile and have an investment Plan built and managed for you
- Invest From: £1
Why we like it: Choose your level of risk from cautious to adventurous and have a plan expertly created and managed for you. Create multiple Plans – including Ethical Plans – with different risk levels. Invest as little or much as you like, add regular payments and top up whenever you like. Withdraw money or transfer out without notice or penalty fees. Wealthify app lets you check how your Plan is performing, manage your transactions and provide investment news and insights. Simple annual management charge of 0.6%
- Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds
- Invest From: £25 pm
Why we like it: An award-winning ISA that gives you complete control. The second largest platform in the UK with the widest choice of investment options in the market including funds, investment trusts, ETF’s and more. Open online in less than 10 minutes. Access to expert independent ideas and analysis. Low cost fees and trading. Capital at risk.
- Fund Choice: Invest in over 2,000 funds, shares and more across 25 markets
- Invest From: £25 pm
Why we like it: Invest in over 2,000 funds, shares and more across 25 markets. Invest from £25 per month. Which? Recommended Provider for Investment Platforms 2019–2023. Low-cost online dealing from £3.50. Open your account in minutes from app or website, manage your portfolio on the move. FSCS protected. Capital at risk
- Fund Choice: Nutmeg offer 5 investment styles with ETFs, using technology to keep charges low
- Invest From: Min. £500
Why we like it: Get a stocks & shares ISA portfolio – Choose one of five investment styles, either fully managed by Nutmeg’s expert team or a fixed allocation portfolio. No tie-ins, no set-up fees, no exit charges. Easy, online set up. Start with as little as £500. Portfolio management fees of 0.45%-0.75% up to £100k. 0.25%-0.35% beyond £100k. There are also underlying investment charges, see the fees page. Plus, live chat, amazing customer support and brilliant investor tools and guides. Nutmeg are regulated by the FCA & are covered by the FSCS. ISA eligibility and tax rules apply. Capital at risk. Approved by Nutmeg 09/08/2024
- Fund Choice: Choose from over 4,000 investment options, including one of the widest fund ranges in the UK. With online guidance tools and expert fund ideas to help you choose
- Invest From: £25 pm
Why we like it: This award-winning ISA has an extensive range of investment options, including thousands of funds and shares, plus a guidance service to help you find investment ideas. There is a low service fee (typically 0.35%), easy online application process and apps to manage your money on the move. Additional charges apply depending on your choice of investments. Plus, everything is backed by Fidelity’s 50 years of investment experience. Boring Money Best Buy ISA 2023
Stocks & Shares ISA Transfer Cashback Offer (Terms Apply)
from Hargreaves Lansdown
- Fund Choice: 3,000+ Funds
- Invest From: £25 pm
Why we like it: Choose your own funds or alternatively a ready made portfolio. Market-beating savings and discounts of up to 5.5%. No charge to buy and sell funds. Low, tiered annual charges for holding funds, with a maximum of just 0.45% per annum. Free fund updates and analysis from experienced research team. Invest with a financially secure, FTSE 100 company.
Offer:
Cashback » available now when you transfer (Terms Apply)
Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.
- Invest From: £10 pm
- Investment Options: Is an insurance based Junior ISA which invests in stocks and shares via a With-Profits pooled fund
Why we like it: Your child’s money will be invested through a fund manager & will be invested primarily in stocks and shares, with the aim of achieving higher growth over the long-term than might be available through a cash-based Junior ISA. Open a Junior ISA for your child and get rewarded too. . Capital at risk. Please note: As with all investing, your capital is at risk you may get back less than you have put in. The value of the ISA will depend on the performance of the investments and any bonuses cannot be guaranteed. Additionally, if investment conditions are poor, we may apply a Market Value Reduction (MVR)
- Fund Choice: Choose your risk profile and have it matched to an investment portfolio expertly built and managed.
- Invest From: £1,500
Why we like it: Answer questions about your goals, financial situation and attitude to risk, and Moneyfarm will recommend the right ISA portfolio for you, built and managed by experts to help your money grow. You’ll always be invested in a portfolio that’s suitable for you, and you can manage this through the Advice Centre. See what you’re invested in, how you’re performing and how much you’re paying anywhere and any time with the Moneyfarm app. Add money to your ISA by setting up a direct debit, investing a lump-sum, or by transferring old ISAs for free. Capital at risk.
Halifax Junior ISA
What is a Junior ISA?
They are an initiative by the government to encourage and help parents to save for their children’s futures. It was launched in 2011 and both tax-free savings and investment ISAs are available.You’re able to have one of each type of ISA per child and transfers are permitted between the two or to a new provider, much like adult ISAs.
Halifax Junior ISA Review
Halifax is a British bank operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group.
This is a Junior Cash ISA so your savings aren’t going to decrease and you’re guaranteed some sort of interest. Junior Investment ISAs carry more risk but may provide better returns.Features:
- High variable interest rate
- Interest paid annually on the 5th April
- Long term tax-free savings account for under-18s
- Deposits can be made by anyone
- Opening balance of £1
Useful to Know
- If you already hold a Child Trust Fund you can only apply for the Junior ISA in branch
- The account must be opened by and adult with parental responsibility if the child is under 16
- You can’t view the account on your online banking profile
- Withdrawals are not permitted until the child reaches the age of 18
Who Can Open a Junior ISA?
ISAs can be opened by anyone who has parental responsibility for an eligible child. Management of the ISA passes to the child when they turn 16. However, funds remain inaccessible until the child turns 18, after which they can either withdraw the funds, or have their account roll over into an adult ISA.
It’s worth taking in to account that you no longer have any control over the money once they child receives it and therefore, if you have a specific savings goal for the money in mind then it may be best to open a savings account in your name.
What are the rules surrounding Junior ISAs?
Junior ISAs operate on a similar principle to regular adult ISAs. It’s permissible to switch providers, but only one of each type of Junior ISA can be held by each child at a time. Unlike Child Trust Funds, Junior ISAs don’t involve any Government contribution.
Each year there is a Junior ISA allowance. This allowance can either be put into a Junior cash ISA or divided between a Junior Stocks and Shares ISA and a junior cash ISA in whatever proportion you wish. The money will automatically pass to the child when it reaches 18 but no withdrawals are permitted before then.
What are the advantages of junior ISAs?
- Junior ISAs provide parents, friends and family members with a convenient, tax-efficient way to save for a child’s future
- The money saved in a junior ISA stays tax-free once the child reaches the age of 18
- The money is locked away until the child turns 18
- If you want to save an annual amount for your child that generates over £100 in yearly interest, a junior ISA ensures that this interest isn’t taxed