What is a Junior Individual Savings Account (JISA)?

Individual Savings Accounts (ISAs) aren’t just for grown-ups: kids can get in on the action too! Junior ISAs, or JISAs for short, are similar to normal ISAs, but you can start saving sooner.

A JISA is essentially a long-term, tax-efficient way to save up to £9,000 per year for each of your children, so long as they live in the UK and are under 18. With a Stocks & Shares JISA, you can invest up to £9,000 each tax year, and this isn't shared with your personal adult ISA allowance of £20,000. Once the child turns 18, the account matures into a Standard Stocks & Shares ISA which they can then access and manage.

A JISA is opened and managed by a parent or guardian (the Registered Contact) but only the child can access the money (when they turn 18). It cannot be withdrawn before this time (though you have a 30-day cooling off period to change your mind, during which time you can withdraw the funds if you decide it isn’t right for you).