Support managing a Child Trust Fund or Junior ISA

Mental capacity means a person’s ability to understand information and make decisions for themselves. Mental capacity is assessed based on a specific decision at the time it needs to be made.

A person is generally considered to have mental capacity if they can:

• understand the information relevant to a decision
• remember that information long enough to make the decision
• weigh up the information and consider their options
• communicate their decision in any way, such as speaking, writing, signing or using gestures

You do not need to get a formal assessment for mental capacity before contacting us. You do not need to apply for anything from a doctor or the Government. Simply talk to us and we will guide you through the steps.

Child Trust Funds and JISAs are in the name of the account holder, the child. When they mature as the child turns 18, the account continues to belong to the account holder unless other arrangements have been made.

If you would like to manage the account because the child lacks mental capacity, contact our Specialist Support team. They will explain what options are available based on your circumstances.

This depends on how much you have paid in and the interest rate.

You can save up to £9,000 in a Child Trust Fund each year.

When a Child Trust Fund matures, it becomes a CTF Maturity ISA. Because this is only designed to be a temporary home, you will not be able to pay any more money into this account.

This depends on how much you have paid in and the interest rate.

You can save up to £9,000 in a Smart Junior ISA each year.

When the child reaches 18, we will transfer the account to a Junior ISA Maturity. This may have a different interest rate to the original account.

Yes, you can speak to us at any time about your child's support needs.

A support need is anything that will help you get the most out of your interactions with us. We want you to be able to access our products and services without barriers. So, where possible, we will adjust certain processes or how we communicate with you.

Tell us about your support needs

Importantly, this will not change what happens when the child's Child Trust Fund or JISA matures. You will still need to contact our Specialist Support team to discuss their options.

No, a parent, guardian or other carer can call on their behalf.

They can also call us themselves if they feel capable of doing so.

During the phone call, we will need to run a quick assessment to understand your circumstances. So it would be helpful to have them in the room with you.

Usually, if a child lacks mental capacity, a parent or other guardian will need to apply for a Court of Protection financial deputyship order. This allows them to manage the child's accounts when they turn 18.

If this is needed, our Specialist Support team will walk you through how to apply and what evidence is needed. In the first place, you should call us to discuss the options available.

There are many children's savings accounts available.

Some of these are opened in the child's name while others are in the parent's name.

Compare our range of children's savings accounts

In most cases, you cannot take money out of a Child Trust Fund or Smart Junior ISA before the child turns 18.

Some exceptions apply, such as if the child is terminally ill. You can find the full details in the terms and conditions.

When the child turns 18, the account matures into a different type of account and you can access the money. If the child cannot manage their own finances because of mental incapacity, call our Specialist Support team. We can explain the options available and help you with the next steps.

This will depend on a range of factors, such as:

• how much money is in the account
• what documents or evidence you need
• how long it takes for the payment to process

Our Specialist Support team will be able to outline the full process and answer your questions.