Junior ISA

[user1486984759]

Hi,

Does anyone know what happens to the Junior ISA if the family stops being resident in the UK? Are you able to withdraw funds or do they still get withdrawn after the baby turns 18?

Thanks!

Following. We are in same boat and I keep meaning to pop in Halifax. We are leaving the UK soon for the USA so from what I can gather we will no longer be eligible for the bank account. They may try to change the type of account to something else I'd imagine or just close it down.

I think the child has to be living in the UK to be eligible, but talk to the bank for clarification.

I moved from the UK to the US a couple of years ago so let me know if you have any related questions china, I might be able to help!

I understand that no more deposits can be made into the junior ISA once we are no longer UK residents. But what happens to the money that's already in the account? Does that stay stuck in that account for 18 years? Can it be moved between cash ISA and stocks/shares ISA? Can it be withdrawn completely to an overseas bank account?

Here's what Halifax told me:

1. Money cannot be withdrawn until the child is 18, even if you move abroad. Only exceptions are emergencies (medical etc.)
2. Money in the account will continue to earn interest
3. Can be moved between cash and stock and shares ISA as usual
4. You can continue to make deposits into the account, even after you have moved abroad

So basically, nothing really changes. As I don't trust the customer service at these banks, I shall try to confirm these points (especially point 4) from Nationwide too

As I suspected, Nationwide disputes point 4 above. They say no more contributions can be made to the account if he child moves abroad.

Anybody has actual experience with this situation? Thanks

gov.co.uk says: 'If your child moves abroad, you can still add cash to their Junior ISA.'

www.gov.uk/junior-individual-savings-accounts/add-money-to-an-account

Thanks. Unfortunately it seems that, while the government allows this, it varies from provider to provider. Halifax seems to allow for their cash ISA. Aberdeen seems to allow for their stock ISA. But Nationwide doesn't allow...

What would worry me more is that, most likely, income from the junior ISA will be taxable in the new country you are moving to, defying the point of an ISA