From the day you turn 18, your 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 you tell us what you want to do with your investment.
We can’t accept new contributions into a matured account (even from you) so any direct debits will stop on, or before, your 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 you transfer into a new account though.
You’ll receive a letter from us around the date of your 18th birthday asking you to make a decision about your investment. You’ll be directed back to this page, where you’ll find a form which you will need to fill out and send back to us whatever decision you take with your account. Please note you can only do this once you’ve turned 18, but you don’t have to make a decision right away.
We’ve listed the options available to you below, but should you have any questions about the process or your options, you can contact us.