Eligibility and withdrawal penalties
If you’re opening the Junior ISA for your child:
- You‘re a UK resident aged 16 or over
- Your child is under 18 and a UK resident
- You have parental responsibility for the child
- If the child has a Child Trust Fund or a cash Junior ISA it must be transferred as part of the application
If you’re opening the Junior ISA for yourself:
- You’re a UK resident aged 16 or 17
- If you have a Child Trust Fund or a cash Junior ISA it must be transferred as part of the application
No withdrawals or closures allowed until the account matures on the child’s 18th birthday.
Junior ISA (Issue 2)
AER/tax-free (variable)
| Tier | Junior ISA |
|---|---|
| £1 + | 0.75% |
Interest is calculated daily and added to this account annually in March.
Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 14 days before the rate changes.
| Account name | Interest earned | Balance after 12 months |
|---|---|---|
| Junior ISA | £7.50 | £1,007.50 |
Estimates assume that the account is opened and deposit made on 1st March and no change to interest rates.
These illustrations are only examples and don’t take into account individual circumstances.
We’ll contact the registered contact around 90 days before maturity and/or the child around 14 days before maturity. At maturity on the child’s 18th birthday, we’ll transfer the Junior ISA to an ISA Saver in the child’s name only, currently paying 0.01% AER/tax-free (variable) for balances of £1+.
To open the account the child must be:
- aged under 18; and
- a UK resident, UK Crown Servant or a dependant of a UK Crown Servant.
For children under 16, account must be opened by a person with parental responsibility for the child (the registered contact).
Children aged 16 or 17 can open and manage the account in their own name or it can be opened by a person with parental responsibility. Joint accounts are not allowed.
Opening
- Visit any Santander branch.
Junior ISA transfers
This Junior ISA is a cash Junior ISA. A child can only have one cash Junior ISA and/or stocks and shares Junior ISA at any one time up to their 18th birthday. If a child already has a cash Junior ISA, it must be transferred in full at the point of account opening.
Stocks and shares Junior ISA transfers in are allowed at any time and can be made for the full or partial amount.
You can transfer your cash Junior ISA to another provider at any time, you will need to contact your new ISA provider to arrange this.
A child can’t hold a Child Trust Fund and a Junior ISA (of any type) at the same time. If a child has a Child Trust Fund, it must be transferred in full as part of the application for a cash Junior ISA with us.
If a transfer in request of a Child Trust Fund or a Junior ISA is made, the child and the registered contact on both accounts must be the same.
Deposits
There is no minimum deposit required. The maximum balance you can have in this cash Junior ISA at any time is £2 million. The Junior ISA limit for the 2020/21 tax year is £9,000 and deposits can be made from 6 April 2020.
Save up to the Junior ISA limit into one cash Junior ISA and/or one stocks and shares Junior ISA per tax year.
A tax year runs from 6th April in one year to 5th April the next.
Deposits can be made at any time via standing order, one-off payments or online transfers.
Any money paid into this account is a gift to the child and cannot be repaid. The money in the account belongs to the child and can only be accessed by the child at the age of 18.
This product doesn’t accept additional permitted subscriptions
Manage the account
- Online and Mobile Banking, branch and telephone.
- A certificate will be issued after account opening.
- Statements are issued annually in March. We provide you with information about transactions on your account by posting them to Online Banking for you to view at any time. You can also request this information in branch or by calling us on 0800 9 123 123.
The account can only be managed by the registered contact on behalf of the child and all communication will be sent to them.
From the age of 16 the child can take over management of the account without the consent of the registered contact. Once this is done the registered contact status can’t change to another person.
No withdrawals are allowed until the account matures into an adult cash ISA on the child’s 18th birthday.
You can cancel the account within 14 days of opening and your money will be returned in full with interest.
The tax treatment of ISAs depends on your circumstances and may change in the future.
The cash junior ISA is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 3 August 2020.
A child can’t have a Child Trust Fund and a Junior ISA (of any type) at the same time so if you’re opening a cash Junior ISA with Santander and have a Child Trust Fund elsewhere, you must request to transfer it to Santander. This must be done at the point you open a cash Junior ISA with Santander in branch, Santander will arrange the transfer in and your Child Trust Fund will be closed.
You can transfer in balances from existing Junior ISAs held with another ISA provider to a Santander cash Junior ISA. The Junior ISA being transferred in must be held in the child's name.
A child can only have one cash Junior ISA so if you’re opening a cash Junior ISA with Santander and have another cash Junior ISA elsewhere, you must request to transfer it to Santander. This must be done at the point you open a cash Junior ISA with Santander in branch, Santander will arrange the transfer in and your old cash Junior ISA will be closed.
A child can have one cash Junior ISA and one stocks and shares Junior ISA. If you’re opening a cash Junior ISA with Santander and have a stocks and shares Junior ISA elsewhere, you can choose to keep your stocks and shares Junior ISA or you have the option to request to transfer it to Santander at any time. This can be done by completing the form below. Alternatively, you can request the form by phone on 0800 328 1 328* or in your nearest Santander branch
We don't charge a transfer fee but other providers may. If you are transferring in a cash Junior ISA, the full amount must be transferred in. For stocks and shares Junior ISA transfers in, you can choose to transfer in the full amount or a partial amount. Santander does not provide advice as to whether transferring your Junior ISA(s) is right for you.
Stocks and Shares Junior ISA Transfer Form (pdf)
Once you have completed the Stocks and Share Junior ISA Transfer Form, please send to the following address.
ISA Customer Services
PO Box 1112,
9 Nelson Street
Bradford, BD1 9NR
* Lines are open 8am to 6pm Monday to Friday and 8am to 4pm Saturdays. View our call charges
We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.
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