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Junior Cash ISA

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If there has been a change to the child's address please call us on 0345 678 5678* or write to us at: Tesco Bank, PO Box 27017, Broadway One, Glasgow, G2 9FH Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.
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Yes, however Tesco Bank do not offer stocks and shares Junior ISA's. Learn more about ISA's by visiting the HMRC website.
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We will provide the Registered Contact with a statement free of charge each month when there has been any activity on the account excluding credit interest.   We'll also provide the Registered Contact with an annual statement on the anniversary of your account opening. If you have opted to go paperless on your account, we'll contact you by email or text to let you know that your statement is ready to view electronically.
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You can only deposit up to the Annual Cash ISA subscription limit each year. You can do this in the following ways: 1. Faster Payment / BACS.  Contact your account provider or use their online banking service to make a one-off payment into your account, or set up a Standing Order to make regular payments. You’ll need your Tesco Bank Savings sort code and account number to do this – you’ll find this on your statement or your welcome letter. 2. Posting cheques to us. You can post cheques to us at: Freepost TESCO BANK, 4943. No other address details are needed. Please ensure the cheque is made payable to the child named on account and clearly write the account number and sort code on the back of the cheque. On average this takes 2 business days to arrive, however, timescales may vary. Please note only cheques made payable to the correct account holder will be accepted.  3. Online Banking.  You can move funds from another account you have with Tesco Bank using Online Banking or the Mobile App. 4. ISA Transfer.  If your Tesco Bank Junior Cash ISA accepts transfers in, transfer from another ISA using the ISA transfer process.
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From 5th April 2015, the Government announced that Child Trust Fund (CTF) account holders would be able to transfer the whole of their CTF funds into a Junior ISA
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The account will earn interest at our standard Junior Cash ISA interest rate (which is variable) plus any fixed bonus interest rate available at the time of applying for the account.   The Key Features Document enclosed with the Welcome Pack confirms the annual interest rate which applies to the Account and when this rate will end.   Interest is calculated daily and paid annually, on the anniversary of the account opening. The interest paid is tax free. Please note that if money is paid in by cheque, this will not start earning interest until 2 working days after we receive it.   The Registered Contact can also find out how much interest the account is earning by calling us on 0345 678 5678* or by checking our interest rates by logging into Online Banking.   *This number may be included as part of any inclusive call minutes provided by your phone operator.
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No, apart from the right to cancel, money cannot be taken out of the account until the child turns 18. It is however possible to transfer a Junior Cash ISA to a Junior ISA with another provider. For further information, see Can a Junior Cash ISA be cancelled?  In exceptional circumstances withdrawals may be allowed, for example, where the child is diagnosed with a terminal illness. We need permission from HMRC to do this. For more information about this please call us on 0345 678 5678*. Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.  
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The Junior Cash ISA annual subscription limit for 2019/20 has increased to £4,368. So you’ll be able to earn tax free interest on your ISA savings up to the increased amount. It’s important to note that the current rules for ISAs are subject to change by HM Revenue and Customs and the value of tax benefits depends on personal circumstances. The current rules for ISAs are subject to change by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.
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Interest is calculated daily and paid annually, on the anniversary of the account opening. Please note that if money is paid in by cheque, this will not start earning interest until 2 working days after we receive it. The Registered Contact can also find out how much interest the account is earning by logging into Online Banking or using our Mobile App. The current rules for ISAs are subject to change by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.
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The account can only be closed where:   the child reaches 18 HMRC tell us to close the account all funds in the account have been transferred to another Junior ISA the child passes away The Registered Contact fails anti-money laundering or identity checks in the first 30 days from account opening. When this happens we’ll return the funds to where they came from.   If the Registered Contact or account owner want to close the account they must call us on 0345 678 5678* to let us know or write to us at: Tesco Bank, Broadway One, 199 Renfield Street, Glasgow, G2 9FH Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.
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