{"id":17051,"date":"2020-09-03T12:17:47","date_gmt":"2020-09-03T11:17:47","guid":{"rendered":"https:\/\/www.kidstart.co.uk\/blog\/?p=17051"},"modified":"2021-05-11T14:19:38","modified_gmt":"2021-05-11T13:19:38","slug":"switching-your-kids-child-trust-fund","status":"publish","type":"post","link":"https:\/\/www.kidstart.co.uk\/blog\/switching-your-kids-child-trust-fund\/","title":{"rendered":"Could switching your child&#8217;s CTF be the best option for you?"},"content":{"rendered":"\n<header>\n<strong><p>You may have seen in the news that the first wave of Child Trust Funds are going to mature. Did you know that if your child\u2019s CTF has a couple of years left you could potentially save money on fees, meaning more saved for your child?<\/p><\/strong>\n<\/header>\n<p>\nIf your child was born between 1st September 2002 and 2nd January 2011, it is likely they were set up a Child Trust Fund through the government voucher scheme when they were born. New CTFs were abolished in 2011 but many remain in existence often in stakeholder funds charging 1.5% per annum, significantly higher than our JISA, <strong><a href=\"https:\/\/smart.link\/fbrw987fz7a2c?site_id=blog\" target=\"_blank\" rel=\"noopener noreferrer\">Beanstalk<\/a><\/strong>. Which means that switching to Beanstalk could save you \u00a3100+* in fees, so more money for your child!<\/p>\n<p>We&#8217;ve created a <strong><a href=\"https:\/\/beanstalkapp.co.uk\/ctf-calculator\" target=\"_blank\" rel=\"noopener noreferrer\">CTF calculator<\/a><\/strong>, which will help you work out how much and if you could save by switching your child&#8217;s account.<\/p>\n<p>If you&#8217;re unsure whether your child has a CTF or you know they do but have no idea how to find it then check out our <strong><a href=\"https:\/\/beanstalkapp.co.uk\/articles\/locate-a-missing-ctf\" target=\"_blank\" rel=\"noopener noreferrer\">locating a missing CTF article<\/a><\/strong>.<\/p>\n<p>Finally, if you&#8217;d just like more information into child savings and JISAs in general, we&#8217;ve put together an <strong><a href=\"https:\/\/beanstalkapp.co.uk\/guides\/jisa-guide\" target=\"_blank\" rel=\"noopener noreferrer\">Introduction to JISAs Guide<\/a><\/strong> to help explain what a JISA is, the different types available and more.<\/p>\n<p>Beanstalk will take care of the switching process for you if you do decide to transfer your CTF, making it simple to do. If you would like more information on switching then check out our <strong><a href=\"https:\/\/beanstalkapp.co.uk\/articles\/transfer-ctf-jisa\" target=\"_blank\" rel=\"noopener noreferrer\">transferring a Child Trust Fund or Junior ISA article<\/a><\/strong>.<\/p>\n<p>Please note: Capital at risk. As with any investment the value can go down as well as up.<\/p>\n<p>*A 13 year old with \u00a32500 in a stakeholder CTF charging 1.5% would save ~\u00a3115 in fees over the remaining life of the account.<\/p>\n","protected":false},"excerpt":{"rendered":"You may have seen in the news that the first wave of Child Trust Funds are going to mature. Did you know that if your child\u2019s CTF has a couple of years left you could potentially save money on fees, meaning more saved for your child? If your child was born between 1st September 2002","protected":false},"author":1,"featured_media":17055,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3507,3349],"tags":[],"class_list":["post-17051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-save-for-your-child-with-help","category-household-savings-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Could you save money by switching your kid&#039;s Child Trust Fund | KidStart<\/title>\r\n<meta name=\"description\" content=\"Child Trust Funds are starting to mature. 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