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Call: 01494 879500

Junior Cash ISA

No access until the child's 18th birthday 2.65% Gross pa/AER

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  • Summary Back Copy 2
    • What is the interest rate?

      2.65% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form.

    • 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 a deposit of £1,000 would be £1,026.50.

      This estimation assumes that:
       - £1,000 is deposited on opening the account.
       - No additional deposits or withdrawals are made.
       - Interest is paid annually and added to the account.

      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?

      • The account can be opened in person or by post and in single name only.
      • A JISA is available to any child under the age of 18 provided they do not have a Child Trust Fund.
      • A minimum investment of £10 is required to open the 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.
      • Your child can open and contribute to a Cash JISA, a stocks and shares JISA or a mix of the two within a single tax year, but the total amount contributed across all your ISAs cannot exceed the annual subscription limit set by HM Revenue & Customs.
      • Any person can subscribe to the JISA up to the annual limit by visiting the branch and making a cash deposit, by bank transfer, 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.
      • 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.
      • Transfers in of existing JISAs are accepted from other ISA providers into this JISA while the issue is still available.
    • 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

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • 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 favourable tax status of ISAs is granted by the Government and may be subject to change.
  • Important Information Back Copy 2

    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 one of these accounts you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.

    If you wish a third party to operate this account on your behalf, a Power of Attorney should be in place.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    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.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • How To Apply Back Copy 2

    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.

    • What is the interest rate?

      2.65% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form.

    • 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 a deposit of £1,000 would be £1,026.50.

      This estimation assumes that:
       - £1,000 is deposited on opening the account.
       - No additional deposits or withdrawals are made.
       - Interest is paid annually and added to the account.

      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?

      • The account can be opened in person or by post and in single name only.
      • A JISA is available to any child under the age of 18 provided they do not have a Child Trust Fund.
      • A minimum investment of £10 is required to open the 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.
      • Your child can open and contribute to a Cash JISA, a stocks and shares JISA or a mix of the two within a single tax year, but the total amount contributed across all your ISAs cannot exceed the annual subscription limit set by HM Revenue & Customs.
      • Any person can subscribe to the JISA up to the annual limit by visiting the branch and making a cash deposit, by bank transfer, 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.
      • 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.
      • Transfers in of existing JISAs are accepted from other ISA providers into this JISA while the issue is still available.
    • 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

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • 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 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 one of these accounts you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.

    If you wish a third party to operate this account on your behalf, a Power of Attorney should be in place.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    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.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • 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.

Need some help?

Call us: 01494 879500  Email: info@bucksbs.co.uk  or visit our branch

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