A child can have two Junior ISAs (JISAs). They can have one Cash JISA and one Stocks and Shares JISA.
JISAs can be transferred between providers, but your child cannot have more than one of each type of JISA at any one time.
There is an annual allowance for JISA contributions which is £9,000 per tax year. This allowance can be split between the two types of JISA.
How many Junior ISAs can you open?
As an adult, you can open a maximum of two JISAs (one Cash JISA and one Stocks and JISA) per child.
You must be a child’s parent or legal guardian to open a JISA on their behalf. This means grandparents and other family members cannot open a JISA for a child. However, they can contribute money to a JISA after it has been opened.
What are the different types of Junior ISA?
There are two main types of JISA: Cash JISAs and Stocks and Shares JISAs.
Cash JISAs are a cash savings account for your child.
With a Stocks and Shares JISA, you invest money on behalf of your child.