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Junior Cash ISA

  • A Cash ISA for under 18s
  • Save up to the annual limit of £9000
  • Children can access the money on their 18th birthday
  • Summary
  • Important InformationInfo
  • How to Apply
  • Account Name

    Junior Cash ISA
  • What is the interest rate?

    £10 + 1.30% Gross PA/AER

    If the balance falls below £10, a variable rate of 0.10% Gross pa / AER will be paid.

    Interest is calculated daily and paid annually at 31 December into this account.

  • Can Buckinghamshire Building Society change the interest rate?

    Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

  • What would be the estimated balance after 12 months based on a deposit of £1,000?

    The estimated balance after 12 months based on an initial deposit of £1,000 would be £1,013.00. This estimation assumes that £1,000 is deposited on 1 January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31 December.

    This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

  • How do I open and manage my account?

    • A person with parental responsibility for the child must operate the account. They will be known as the Registered Contact. There can only be one registered contact for an account at any time.
    • The account can be opened in person or by post, in a single name only.
    • You can make a deposit by visiting the branch, send a cheque made payable to the account holder or make a bank transfer.
    • You can save from £10 to £9,000 in the current tax year (6th April 2022 to 5th April 2023).
    • You can save up to the JISA limit of £9,000 in either a cash or stocks and shares JISA or split between one of each type. Only 1 JISA of each type can be held.
    • Any person can subscribe to the JISA up to the annual limit by cash, bank transfer, debit card or cheque made payable to the child. 
    • Money subscribed by any person is a gift to the child, and as such cannot be repaid to the subscriber if they change their mind at a later date.
    • A JISA is available to any child under the age of 18 provided they do not have a Child Trust Fund.
    • The child is the beneficial owner of all funds in the account and access is only permitted by the child on maturity of the JISA on the child’s 18th birthday.
    • If the young person who turns 18, lacks mental capacity and is unable to make decisions for themselves, we’ll need to see either a power of attorney or financial deputyship order before we can close the account. These must authorise a close relative or friend to make financial decisions on the young person’s behalf. To get an order, you must apply to the:
      - Court of Protection in England and Wales
      - Office of the Public Guardian in Scotland
      - Office of Care and Protection in Northern Ireland
    • Upon reaching the age of 16, the child may become the registered contact and operate the account themselves. They may also open an adult Cash ISA, which they can subscribe to alongside their JISA.
    • Transfers in of existing JISAs are accepted from other ISA providers into this JISA while the issue is still available.
    • We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status. You must be a UK resident.
  • Can I withdraw money?

    • Withdrawals are not available on a JISA prior to the maturity date on the child’s 18th birthday, except in the case of death or terminal illness of the child.
    • Transfers out are permitted subject to a penalty of 90 days loss of interest.
    • Transfers between JISAs can only be made with the entire funds in the account. Part transfers are not permitted from a Cash JISA to another Cash JISA.
    • We will send you details of the adult ISAs you can transfer into on maturity of the JISA.
  • Additional Information

    • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
    • Interest on a Cash ISA is paid tax free provided the ISA regulations have been fulfilled.
    • The Society is required by law each year to supply to HMRC particulars of all interest paid or credited to investors.
    • The favourable tax status of ISAs is granted by the Government and may be subject to change.

You should read this information carefully in conjunction with the JISA Terms and Conditions and our General Savings Terms and Conditions to ensure you understand them.

Upon opening  this account you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.

The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

As the child is the beneficial owner of the money in the account, we reserve the right to question if withdrawals are for the child's benefit.

More information on transfers can be found here.

Open an Account

Download and complete the application form and return it to us by post or to the branch.

Financial Services Compensation Scheme

You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

Verifying your Identity

In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account including any adults signing on the account. Click here to see the list of required ID documents.