Junior Cash ISA

A tax-efficient savings account to put away savings for your child until they're 18

Why a Triodos Junior Cash ISA?

At Triodos, we believe being ethical means being open and honest. We publish a list of every organisation we lend to, so you know exactly where your money goes. And we only lend our savers' money to organisations that have a positive impact on society, culture or the environment. No other bank offers you such a clear link between your savings and the positive difference they make.

By choosing our Junior cash ISA, children get much more than a savings account to start them off in life - it's an opportunity to change the world for the better.

When the child turns 18, the Triodos Junior Ethical Cash ISA will automatically become a Triodos Cash ISA, allowing them to continue to save with tax-free interest into adult life.

Once you’ve opened an account for your child, you can pay in as and when you choose, up to a maximum limit of £4,368 in the 2019/20 tax year – and earn tax-free interest on the savings. Or if you're aged 16 to 17 you can open one yourself.

Summary Box

Everything you need to know about the Triodos Ethical Junior Cash ISA, including key features.

Interest rate is 2.25% tax free* / 2.26% AER** variable.
Interest is calculated daily and paid six monthly.

Yes – the interest rate is variable and can therefore change at any time. Please refer to section 14.3 of our Terms and Conditions for personal savings accounts.

At least 14 days’ notice in writing will be given of any reduction to the interest rate on this account.

£1,022.63

This estimate is based on £1,000 being deposited at account opening, no further deposits or withdrawals being made and interest being added to the account six monthly. This projection is for illustrative purposes only and does not take into account your personal circumstances.

To open an account the child must be under 18 and a UK resident.
A parent or legal guardian can open the ISA on behalf of the child, or if the child is 16 or 17 they can open the Triodos Ethical Junior Cash ISA themselves.
The account can be opened online or by post.
Only one Junior cash ISA or Child Trust Fund can be held at any one time, either with Triodos or any other provider.
The minimum opening deposit is £1 and can be made by cheque made out to the child from an account in the account operator’s name or from someone related to the child, by transfer from an existing Triodos UK account in the account operator’s name or by transferring an existing Junior ISA or Child Trust Fund with another provider to Triodos. Once the opening deposit is made, funds can be paid in from any account.
There is no maximum balance, but the maximum current year’s subscriptions should not be more than the current tax year’s ISA allowance of £4,368 (2019/20 tax year).
In addition to making deposits that count towards the ISA subscription allowance, existing Triodos UK or other providers’ ISAs can be transferred in.
The account can be managed online or by post.

Withdrawals are not permitted until the child is 18 years old, except in the event of death or terminal illness.
The account cannot be closed until the child is 18 years old.
Transfer to another ISA provider is allowed at any time.

*The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future. ** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Download Triodos Ethical Junior Cash ISA Summary Box21 KB, PDF

Transfer an ISA

Transfer an existing Junior ISA or Child Trust Fund to a Triodos Ethical Junior Cash ISA without losing its tax-free ISA status.

FAQs

The person with legal parental responsibility who opened the account. When the account holder turns 16 the child may apply to be the account operator.

The ISA allowance is the maximum amount you can invest across all types of ISAs in any one tax year. You can put your whole allowance into a particular type of ISA or you can split it between the different types of ISAs: Cash, Stocks & Shares, Lifetime and Innovative Finance. The ISA allowance for the 2019/20 tax year is £20,000. For Junior Cash ISAs, the allowance is £4,368.

If for any reason you need to withdraw your money earlier than the notice period, you will need to write to us by post or secure message in internet banking.

At our discretion you may have access to your savings without waiting the notice period for Online Cash ISA, 90 Day Notice Online Cash ISA and Cash ISA. However we will charge you the interest due on the amount withdrawn for the part of your notice period for which you have not given notice. So if you withdraw £500 on 15 Calendar Days’ notice from an Account set up on 90 Calendar Days’ notice, then a charge equivalent to the interest you would have earned on that £500 for 75 Calendar Days (i.e. 90 - 15) will be deducted from your Account.

For Fixed Rate ISAs withdrawals are not allowed until maturity. The only exception to this is if you close the account and/or transfer the full balance to another ISA. Early closure will result in an early access charge being applied equivalent to a number of days of interest.

2 year term – 180 days’ interest

3 year term – 270 days’ interest

The charge will be taken from the account balance, so you may get back less than originally deposited.

Instructions given in internet banking to make a payment from your account will only be carried out after the expiry of any notice period on your account. Any attempt to schedule a payment before then will be rejected.

By completing an application for any of our accounts online you are automatically registered for Internet Banking and can manage your account online.

If your application was made by post then Internet Banking access is available for the following accounts:

Triodos Saver
Triodos Cash ISA
Triodos Regular Saver
Triodos Fixed Regular Saver
Triodos Online Cash ISA (TOISA)

You can also access the Triodos Right Start Saver account online but you can't make payments from this account.

If you want to apply to manage your existing Triodos account online, download the application form below or call us on 0330 355 0355 and we'll send you one. Before completing an application form please ensure you have read our Terms and Conditions for personal savings accounts below.

You can open a Triodos Ethical Junior Cash ISA account, and transfer the funds from your Right Start Saver into it, subject to the Junior ISA allowance of £4,368 for the 2019/20 tax year.

No. The money can't be taken out until the child is 18.
If you wanted to take the money out of the Junior Cash ISA you must contact HM Revenue & Customs (HMRC) visit www.hmrc.gov.uk.

To top up a Triodos Junior Cash ISA, you can:

Make a transfer from another account (either an account with another provider or another Triodos account that allows withdrawals)
Transfer by cheque made out to the child

The Triodos sort code is 16-58-10 and you can find your Triodos cash ISA account number on your statements. If you want to deposit a cheque, please post it along with a paying-in slip to:

Freepost TRIODOS BANK

A child may only hold one Junior cash ISA and one Junior stocks and shares ISA at any time and cannot hold a Junior ISA and a Child Trust Fund at the same time.

You can however apply to transfer a Junior ISA or a Child Trust Fund from one provider to another. You can also transfer between the different types of Junior ISA, in either direction.

Junior ISA

Transfers of current year’s subscriptions or transfers between the same type of Junior ISA must always be done in full.
Partial transfers can only be done if they are previous years’ subscriptions and you are moving the subscriptions between different Junior ISA types e.g. Junior cash to Junior stocks and shares or Junior stocks and shares to Junior cash.

Child Trust Fund

The whole of the Child Trust Fund must be transferred and the Child Trust Fund subsequently closed.
The annual subscription allowance for a Child Trust Fund is based on the child’s birth year while Junior ISA subscriptions are based on tax years. When a transfer of a Child Trust Fund to a Junior ISA has been made, the child can use the full Junior ISA subscription allowance for the tax year in which the transfer takes place regardless of any subscriptions made to the Child Trust Fund in that year. This only occurs in the tax year in which the Child Trust Fund is transferred, in subsequent years only the Junior ISA allowance can be used.

When your child becomes 16 they can become the Account operator and manage their own account if they want to.

To set up a Junior Cash ISA for a child, the parent or person with legal parental responsibility for the child will need to be identified. We also need the child’s original birth certificate, original NHS card or a certified copy of their passport. All certified copies must be in colour. We’ll return original documents by registered post. To help us verify the identity of customers opening an account we may make an electronic search, using the information you supply. In some instances we may need to ask you to send in further information or documents.

Regardless of who put the money into the Junior Cash ISA, the money in the account belongs to the child. It is only the child that can make withdrawals once they turn 18.

Each child can have one Junior cash ISA and one Junior stocks and shares ISA at any one time. These can be with different providers.

A child cannot hold both a Junior ISA and a Child Trust Fund, with the same or different providers.

Anybody can deposit money into a child's Junior Cash ISA.

Before the child turns 18 we will contact you to confirm that the Triodos Ethical Junior Cash ISA will become a Triodos Cash ISA on the child’s 18th birthday. After this date the child can decide what they wish to do with the account/funds.

A Junior cash ISA can only be opened by a person with legal parental responsibility for the child. The person applying must be aged 16 or over. If the child is 16 years old, the child may open the account themselves.

Welcome to positive change

Saving with Triodos is different. We lend our savers' money only to organisations that make a positive impact on society and the environment. So, while you earn interest, your money works for positive change.