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A Junior Cash ISA is very much like a regular children’s savings account but you do not pay tax on any interest earned.
 It is widely regarded as a ‘Tax Wrapper’ for your child’s savings rather than a stand alone product and most of the UK’s high street banks & building societies provide their own Cash ISA For Children.
To open a Cash Junior ISA you need to be the parent of the child or have the legal parental responsibility of that child but once the account is open, anyone can contribute towards it including grandparents, uncles, other family members and any friends who have a vested interest in the child’s financial future.
The capped investment limit currently stands at £3,000 per tax year (6th April to 5th April) meaning that the total amount paid into the account cannot exceed £3,000 per year.
You are free to shop around and even move your Junior ISA from one provider to another but please note that when moving to another Junior ISA Provider you must move all of the funds.
With a Cash ISA For Children, the money will remain locked away inside the account and can only be accessed by the child when they reach 18 years of age.
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