J(S&S)ISA which grandparents can easily transfer?

[freeinchrist87]

I've opened up a Vanguard JISA for our baby. In-laws kindly want to contribute £20 a month. However there doesn't appear to be an easy way for them to transfer the money in with vanguard in terms of a direct debit (they are not keen to transfer it into my account for me to then transfer it in to the JISA from my linked account).

Has anyone had a different experience with a different provider?

 

[layprocadam1978]

@freeinchrist87 I'm with fidelity and there is a form you fill out for third party payments for direct debit or standing order can't remember which for grandparents or other relatives to pay in to it

Scroll down to payments from relatives for more information

https://www.fidelity.co.uk/forms/accounts-children/#accordion-2288915e

 

[julia736]

@freeinchrist87 Is there a reason the grandparents want to use a JISA instead of a bare trust?

 

[sashieng]

@freeinchrist87 You should have chosen Fidelity or HL as the JISA provider, as they do not charge a platform fee on their JISA products.

Why don't the grandparents set up a standing order to you, and you create or increase your own payment to the JISA? OR, as suggested they can invest via a Bare Trust, or via an account in their name(s) designated as 'money for XXXXX'?

 

[cherylf1]

@freeinchrist87 Nutmeg is good and the website is very user friendly

 

[freeinchrist87]

@cherylf1 Thank you- do you know if family members can pay directly into an account?

 

[cherylf1]

@freeinchrist87 They can just set up a direct debit into the J-ISA

 

[jb21]

@freeinchrist87 AJ Bell provider URLs for third parties to make JISA contributions.

AJB, HL, II and Fidelity you can setup standing order with the account details. You'd hope VI UK could do the same.

NB you're better off choosing Hargreaves Lansdown for a Junior ISA as totally fee free.

 

[nigelm91]

@jb21 Aren't fidelity fee free for junior ISAs too?

 

[jb21]

@nigelm91 Not entirely, no platform fee, but they charge for ETF and share trades.