Opening an account with a cheque

[Dullstreet]

If your children had junior cash isas already that wouldn’t accept payment by cheques, what would you do if they had an already written cheque in their names that was worth around £2000 each?

There is little to no chance of the cheque being cancelled and converted to a bank transfer (which would be accepted by the ISAs), or converted to a cheque in the parents’ names which could then be reallocated to children’s ISAs.

Children are aged 5-11 and currently have no other bank accounts.

Nationwide offer a bank account to 11 year olds in their own name, with a Visa debit card and online banking. That would be the first option I would try for the oldest, taking a cheque into a branch or posting it in.

For the younger ones - I would transfer the existing Junior ISAs to Coventry Building Society Junior Cash ISA (currently paying 4.95%). You can initiate the process by phoning them and they will post the application paperwork to you (or in branch if you are within reasonable distance).
They accept transfers and also take cheque deposits by post or in branch.

Once the account has been credited with the deposits, you could transfer out again if you wish, to the provider of your choice as long as they accept transfers in.

https://www.coventrybuildingsociety.co.uk/member/product/savings/children/junior-cash-isa-2.html

Thanks @seekingasimplelife unfortunately I can’t open a new cash Isa for the younger ones as they’ve already had deposits into one this year, but into accounts that don’t accept a payment by cheque (NS&I).

You don't need to open a new one. Just transfer the existing one.
You can do this at any time, even within the same year. Just tell the new provider you want to transfer the existing one - they will initiate it for you once they have the correct admin from you.
I have done this many times to take advantage of the best rates for a cash JISA.

I also see that Coventry BS has a better interest rate than NSI (I have found they are often competitive with interest rates for Junior ISAs).

Ah thanks, I thought once you’d started paying into your Isa for the year then you could not start (even by transferring) to a new one.

Open a bank account for each child - the 11 year old will likely need one soon anyway.
Deposit cheque in new account. Transfer money to ISA oncce cleared.

It is my understanding that a child cannot open a current account in their own name under the age of 11. Before this it is held as a guardian account under the parent's name. (Things might have moved on since I last looked into it). This might make it tricky to deposit a cheque.