Setting up a JISA account
Only parents or guardians with parental responsibility can open a JISA for a child under 16 years old, with the JISA will be in child’s name.
The parent or guardian, the ‘registered contact’, will be the only person who can change the account, change the account provider and report for changes of circumstances. Children over 16 can become the ‘registered contact’ or open their own JISA until they turn 18-year-old when they will be able to open an adult ISA.
JISA accounts automatically turn into adult ISA when the child turn 18 years old, with a higher annual allowance.
Each child can only have one cash JISA and one stock & shares JISA at any time. Our SCM Direct minimum for a JISA is £1,000 and the child must be under 18 years old and living in the UK.
If you want to open a JISA with SCM Direct please write us at email@example.com and we will send you the relevant forms and instructions.