Cash Junior ISA

We have temporarily stopped new applications to this account type. We will update these pages once the situation changes.

Financial Services Compensation Scheme

Your eligible deposits with Wesleyan Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here for further information or visit the


We have temporarily stopped new applications to this account type. We will update these pages once the situation changes

Give your children a head start in life

We all want to give our children the best possible start in life. That’s why so many parents start saving early for their children’s future, whether it’s to help cover the cost of university, get them onto the property ladder or pay for their first car. With our Cash Junior ISA, you and your family and friends can invest up to £4,368 each year on your child’s behalf and pay no tax on the interest.

Junior ISAs at a glance

  • Annual limit - currently £4,368
  • Interest - currently paid gross, with no UK Income or Capital Gains tax
  • Paying in - anyone can pay in, either in a lump sum or monthly payments up to the annual limit. All subscriptions to the account will constitute a gift to the child
  • Withdrawals - you can’t withdraw money from your child’s ISA, except in cases of terminal illness or death of the child, before they reach 18.
    When your child reaches 18 years of age, they take control of their account and only they can withdraw money
  • Until they reach 18 their account will be managed by a ‘Registered Contact’ - i.e. their parent or guardian (you). This can be done by phone or post and we’ll send you a yearly statement
  • Transferring from another ISA – you can transfer from another Childrens ISA into a Wesleyan Bank Cash Junior ISA, either in full or in part

Current Interest Rates information

Ready to save for your child’s future?

Apply online for a Cash Junior ISA today, or call us on 0800 358 1122 to find out more. Alternatively, fill in our contact form and we’ll call you back.

Further information

What is a Junior ISA?

  • A Junior ISA is a tax-efficient savings account for children under 18 who are eligible for the account
  • HM Treasury sets how much can be invested each tax year (the tax year runs from 6 April one year to 5 April the following year)
  • There is no income tax to pay on any income made from a Junior ISA.
  • Capital gains tax does not have to be paid on any money made from a Junior ISA
  • A child can hold one stocks and shares Junior ISA or one cash Junior ISA or both types at any time
  • A child can have one Junior ISA Manager for their stocks and shares Junior ISA and one for their cash Junior ISA

Who is eligible?

A child is eligible for the Wesleyan Bank Cash Junior ISA if they:

  • are under 18
  • were born on or after 3 January 2011, or born before this date and do not have a Child Trust Fund account

and are either:

  • a resident in the UK for tax purposes; or
  • a UK crown servant, or married to or in a civil partnership with a UK crown servant

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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