On the child in your life’s 18th birthday, their Child Trust Fund will turn into a matured CTF account, meaning it will have the same benefits and charges as before, but it will be closed to any new investment. The matured CTF will remain the same as before until they tell us what they want to do with their investment.
We can’t accept new contributions into a matured account (even from you) so any direct debits will stop on, or before, their birthday but the annual charges on the account will remain the same as before (£25+VAT on a shares account or 0.7% of investments for a stakeholder account). We can help start direct debits up again if they transfer into a new account though.
Your child will receive a letter from us around the date of their 18th birthday asking them to make a decision about their investment. They’ll be directed back to this page, where they’ll find a form which they will need to fill out and send back to us whatever decision they take with the account. Please note this can only be done once they’ve turned 18, but they don’t have to make a decision right away.
We’ve listed the options available to them below, but should you or your child have any questions about the process or the options, you can contact us.