How to transfer a Junior ISA

You may want to transfer a Junior ISA if you find an account with lower fees, better features, or more suitable investment options for your child.

This guide will give you everything you need, whether you want to move providers, switch between a cash Junior ISA and a stocks and shares Junior ISA, or transfer from a Child Trust Fund to a Junior ISA.

For more information, read Freetrade’s full guide to Junior ISAs.

Transfer a Child Trust Fund to a Junior ISA

To transfer a Child Trust Fund to a Junior ISA, you will just need some account details, like the Unique Reference Number found on the account statements. You should also ensure the child who owns the account is under 18.

One key thing to keep in mind is that a child cannot have BOTH a Child Trust Fund and a Junior ISA. This means any transfer from a Child Trust Fund to a Junior ISA must be a full transfer. 

You will not be able to open a Child Trust Fund again following the transfer.

How to transfer a Child Trust Fund to a Junior ISA?

The transfer process can be relatively simple: 

1. Pick a new provider and Junior ISA account.
2. Begin the Junior ISA account opening process with the new provider. The new provider will offer you the chance to fill in a transfer form while applying.
3. Complete the new provider’s transfer form. After this, your new provider should handle the rest.
4. The new provider will contact the CTF provider on your behalf.
5. The transfer completes, and the CTF is closed automatically. You should receive confirmation of the completed transfer from your new provider.

Should you transfer a Child Trust Fund to a Junior ISA?

Different accounts may suit you and your family better depending on your goals and circumstances.

That being said, Child Trust Funds are no longer available to open. This means competition between providers is not fierce, as there is little pressure to innovate or attract new customers.

As such, you can often, though not always, secure better rates or account features with a Junior ISA.

Transfer an existing Junior ISA

You can transfer an existing Junior ISA to a new provider, but your options will be impacted by the child’s accounts. 

This is because a child can only have ONE stocks and shares Junior ISA and ONE cash Junior ISA at a time.

For example, if transferring a stocks and shares Junior ISA into a Freetrade stocks and shares Junior ISA, it cannot be a partial transfer. This is because a child can only have one stocks and shares Junior ISA at a time. 

Another caveat is that all contributions from the current tax year MUST be included in any transfer. 

But what do these rules mean in real terms?

As an example, let’s say you were transferring from a cash Junior ISA to a new stocks and shares Junior ISA. The existing cash Junior ISA has £5,000 in it, and £1,000 has been contributed in the current tax year. 

In this example, you could opt for a partial transfer because the Junior ISAs are of two different types. However, this partial transfer would need to include the £1,000 contributions from the current tax year.

How to transfer a cash Junior ISA to a stocks and shares Junior ISA

A cash Junior ISA can be partially or fully transferred to a stocks and shares Junior ISA.

1. Pick a new provider and Junior ISA account.
2. Request to transfer a cash Junior ISA as part of the new account opening process. If transferring a cash Junior ISA it can be a full or partial transfer.
3. Complete a transfer form, which should be offered by your new provider during the application process. 
4. Your new provider will contact the old provider on your behalf.
5. The transfer will be completed. If a full transfer, then the old cash Junior ISA is closed automatically.

How to transfer a stocks and shares Junior ISA

When transferring from one stocks and shares Junior ISA to another, you can do a cash transfer or an in specie transfer.

A cash transfer involves all investments within the transferring account being sold, and the resultant cash amount being transferred to the receiving account. 

With an in specie transfer, the investments are not sold, but are ported across to the new account. If any of your investments are not offered by your new provider, these cannot be transferred and may need to be sold down as part of the transfer.

1. Pick a new provider and Junior ISA account.
2. Request a Junior ISA transfer as part of the new account opening process. It will need to be a full transfer, as a child cannot have two stocks and shares Junior ISAs at the same time.
3. If given the option, decide between a cash transfer and an in specie transfer. In specie transfers are only usually possible if transferred investments are also available on your new chosen platform. 
4. Complete a transfer form. This will be offered by your new provider during the account opening process. 
5. Your new provider will contact the old provider on your behalf.
6. The transfer will be completed and the old stocks and shares Junior ISA is closed automatically.

How long does a Junior ISA transfer take?

Transfers from Junior ISAs and Child Trust Funds typically take between four and six weeks. Timings may vary depending on providers, and bear in mind that investments may be out of market if sold as part of a cash transfer. 

Junior ISA transfer rules

The nitty-gritty of Junior ISA transfer rules can be complicated. Here are some key nuances to consider when considering or approaching a transfer:

• You must be the registered contact for a JISA account to request a transfer. Registered contacts must be a parent or legal guardian. 
• Junior ISA transfers and CTF transfers do not count towards the current tax year’s annual allowance.
• A child can only have one stocks and shares Junior ISA and one cash Junior ISA.
• This means cash Junior ISA to cash Junior ISA transfers and stocks and shares Junior ISA to stocks and shares Junior ISA transfers CANNOT be partial transfers.
• Contributions from the current tax year MUST be transferred in full, while previous years’ contributions may be partially transferred if applicable. 

How to transfer a Junior ISA to Freetrade

Transferring into a stocks and shares Junior ISA with Freetrade is simple.

1. Open a Freetrade account.
2. Open a JISA in the Freetrade app.
3. Request to transfer in an existing Child Trust Fund or Junior ISA. Choose between a cash or in-specie transfer.
4. Freetrade will contact your Child Trust Fund or Junior ISA provider on your behalf.
5. Your transfer is completed!

Why not give it a try? Transfer a Junior ISA to Freetrade today!

JISA Transfer FAQs

How do I transfer my Junior ISA to Freetrade?

You can transfer a Junior ISA to Freetrade by heading to Freetrade’s Junior ISA page and selecting the option to transfer a JISA. Then simply follow the steps of the transfer process. 

Can you transfer a Child Trust Fund to a Junior ISA?

You can transfer a Child Trust Fund into a Junior ISA. Remember that a child cannot have both types of accounts at the same time.

Which providers accept Child Trust Fund transfers to a Junior ISA?

Freetrade accepts Child Trust Fund transfers into its stocks and shares Junior ISA account. 

How long does a Junior ISA transfer take?

Junior ISA transfer times depend on the providers involved, but tend to take between four and six weeks. This may vary depending on your individual circumstances.

Can you transfer a Junior ISA to another provider?

You can transfer a Junior ISA from one provider to another. The transfer will not count towards the annual JISA allowance, and you can transfer as many times as you want. 

Can I transfer a cash Junior ISA to a stocks and shares Junior ISA?

You can transfer a cash Junior ISA to a stocks and shares Junior ISA. 

Can you transfer money out of a Junior ISA?

Money can be transferred from one Junior ISA to another Junior ISA. However, you cannot withdraw money from a Junior ISA unless the account was opened on your behalf and you have reached the age of 18.

Will Junior ISA transfers affect your child’s allowance?

Junior ISA transfers do not impact annual allowances.

Can you partially transfer a Junior ISA?

You can partially transfer a cash Junior ISA into Freetrade’s stocks and shares Junior ISA. However, because each child can only have one stocks and shares Junior ISA, transfers from JISA accounts of this type cannot be partial.