Are cash junior ISAs safe?

Yes, as long as the bank or building society you're considering is authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA), it must protect customer deposits under the Financial Services Compensation Scheme (FSCS). This means that up to £85,000 per person, per banking institution, will be covered if the bank goes bust.

What happens if I exceed the junior ISA allowance?

If you go over the £9,000 annual junior ISA limit, the additional funds will be held in a savings account in trust for the child. The money won't be returned to the original donor.

Home Authors Nick Renaud-Komiya

Nick Renaud-Komiya

Writer

Nick Renaud-Komiya has been a writer and reporter for nine years, covering a range of consumer issues from energy suppliers to banking and mortgage issues. He enjoys helping people take control of their personal finances and better understand their consumer rights. Nick’s consumer writing and money journalism has been featured in a range of outlets including MoneySavingExpert.com, The Sunday Mirror, The Independent and Money.co.uk. Outside of work Nick enjoys cooking and collecting old David Bowie merch.

Latest articles by Nick Renaud-Komiya

40 articles written by this author

Children's banking

Children’s savings accounts that they cannot access until 18

Building up a savings pot for your child or grandchild can help ensure they have help and some financial security when they reach adulthood.

Nick Renaud-Komiya 23 August 2023

Children’s savings accounts that they cannot access until 18

Business Banking

Wallester review

If you use a digital banking app or an online-only prepaid card or savings provider, it’s possible that you’ll be using the services of a company like Wallester.

Kate Steere & Nick Renaud-Komiya 31 March 2023

Business Banking

Virgin Money business bank account comparison and review

Compare Virgin Money's selection of business current accounts for both startups and established businesses.

Nick Renaud-Komiya 26 July 2021

Virgin Money business bank account comparison and review

Business Banking

RBS business bank account comparison and review

In this review, you'll discover the main pros and cons of the business current accounts available from RBS.

Rachel Wait & Nick Renaud-Komiya 13 July 2021

RBS business bank account comparison and review

Energy

Methodology for energy ratings

The energy experts at Finder compare suppliers and rank them on several areas of customer service performance to give you an informed view.

Nick Renaud-Komiya 8 July 2021

Broadband Plans

Methodology for broadband ratings

This is how we came up with our expert ratings and satisfaction star ratings for broadband providers.

Nick Renaud-Komiya 28 June 2021

Business Banking

GoSolo business account review

We look at the features and fees of GoSolo's business account range.

Jason Loewenthal & Nick Renaud-Komiya 17 May 2021

Business Banking

NatWest business bank account comparison and review

NatWest offers a range of business banking options including current accounts, savings accounts and business insurance, as well as specialised accounts for startups and charities.

Ronny Lavie & Nick Renaud-Komiya 23 July 2020