JISA that grandparents can pay into?

[Cinnamonandcoal]

My parents want us to open an ISA for our kids that they can (also) pay into.
Kids are 8 and 5.
We tried to do this before and it turned out that grandparents couldn't transfer money in, and they need to be able to do this directly rather than through us (some kind of tax reason).
This info doesn't seem to be readily available when reading about products, does anyone have a recommendation?

They have about £7k each already in a normal savings account opened in their name, because my grandmother left them some money. But I'll probably move some of that into the ISA too as I've realise the rate on anything over £5k is rubbish.

Thanks

Have a look at Hargreaves Lansdown junior ISA for stocks/shares. This should do a lot better than cash over the 10-15 year timeframe you're looking at. There are no fees for the junior version, unlike their regular ISA.

I'm not sure if your parents would be able to pay in directly or if you can only link 1 bank account to it.

Thank you

I experienced this issue a few years back. Then some providers did allow more than one account to be used to pay in - Nutmeg for eg made it easy so would be worth a look.

For boring reasons I ended up going with Vanguard (who do not allow this) so I do exactly what you've said your parents don't want to do (ie they pay me, I pay in to the JISA).

I'm now rather fretting about this - do you know why they aren't keen to do it that way?

Thank you, I will check with them for the exact reason.

I just had another look at Vanguard. They do allow one off payments but have no facility that allows a regular payment from someone other than the person who opened the account. I've emailed them to check this is still the case and, if so, have asked why.

So Presumably grandparents could just make a manual one off online payment each month.

Fidelity allow this. A grandparent pays into our children’s JISAs monthly via standing order, no problems.

Thank you! Will check that out