What is a JISA?

JISA stands for Junior Individual Savings Account. They were launched by the government to help parents and guardians save for their child's further education or simply to give them a helping hand when looking to leave home.

Like the grown-up version, a Wealthsimple JISA can hold investments while allowing gains and income to grow tax-free! When the child turns 18, they have full rights to the money - it is theirs, after all!

Who can setup/fund a JISA?

A JISA account can only be opened by a parent or legal guardian for children under the age of 18. Once the account is setup, it can be funded directly by friends and family so long as the annual allowance is not exceeded! (£9,000 for the 2020/21 tax year). You can obtain your child's JISA account details by heading to the Funding page on our website and submitting a bank transfer. Here you will find our the relevant bank details, sort code, and JISA account reference number to make a bank transfer to your JISA.