The value of investments can fall as well as rise, and you may not get back the full amount you invest. Any tax efficiencies referred to are those applying under current legislation, which may change. Eligibility criteria, fees and charges apply.
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Child Trust Fund (CTF)
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What is a Child Trust Fund?
Child Trust Funds are long term, tax-free savings accounts for children that were set up by the Government in 2005.
You will have a Child Trust Fund if you were born between 1st September 2002 and 2nd January 2011, unless you, your parents or guardians have transferred this into a Junior ISA.
The money is invested in a tax-efficient fund in your name until you turn 18. Once you’re 18, you can take control of your investment and choose to:
- continue investing
- make a withdrawal
- transfer to another ISA provider.
Any income and gains on the account are exempt from UK income tax and UK capital gains tax.
The holder of the Child Trust Fund (the child), the registered contact (the person with parental responsibility) or other third parties (such as grandparents and friends), can collectively make contributions up to the subscription limit allowance for each year, which is currently up to £9,000.
HMRC has produced a document with useful information: 10 things you need to know about Child Trust Funds (PDF, 91KB)
Where is my Child Trust Fund?
Child Trust Funds are held in various UK Child Trust Fund Providers. You can find out where your Child Trust Fund is located by checking:
GOV.UK – Find a Child Trust Fund.
To apply, you will need:
- to register and create a government gateway login
- your full name and address
- child’s full name and address
- child’s date of birth
- child’s national insurance number or unique reference number if known.
(Alternatively, you can post these details to HMRC if preferred).
You can also check through The Share Foundation.
Missing Money - Lost Child Trust Fund - helping 16 & 17 year-olds find their account
To apply, you will need your:
- child’s full name and address
- child’s date of birth
- national Insurance number if known/applicable.
Some organisations ask for a fee to find Child Trust Funds. The above are free so there’s no need to pay anyone to find your Child Trust Fund.
How do I manage my Child Trust Fund?
Our online portal makes it easy to check up on your Child Trust Fund, and to access your investment when you turn 18.
The registered contact (the person who has parental responsibility for the child) can register on the portal at any time. The child can take over responsibility for the account at 16 but they won’t be able to access the portal until they are 18.
If your child is unable to manage their own financial affairs, you may want to consider setting up a Power of Attorney or obtaining a Court of Protection order which will allow you to manage their finances for them. For more information on how to do this please visit the gov.uk page.
The registered contact for an account can see the latest value of the account, top it up, set up a direct debit, and tell us if you have changed address.
To register for the portal, all you need is your:
- name
- date of birth
- client account number (8-digit number starting with 1 is contained on your annual statements, which is addressed to the registered contact).
What happens when my Child Trust Fund matures?
We will write to you 20 days before your 18th birthday with information about your investment and details of how to register for the online portal.
On your 18th birthday we’ll move your investment from the Child Trust Fund into a Matured Child Trust Fund. Your money will be kept invested in the Personal Portfolio Balanced Fund until you choose what to do with it.
Once registered online, you’ll be able to make a choice about your money. You can:
- continue investing with us by moving the investment into a Royal Bank of Scotland ISA
- withdraw all or part of your investment into a UK current or savings account in your own name
- transfer to another ISA provider.
Whichever option you choose we’ll need to take you through some additional checks to verify that you are the correct owner of the account. We might need copies of documentation, which you can post to us. You can find a list of the identification documents we accept below.
It can take up to a few weeks before the money is released.
If you decide to keep your money invested, this will be moved from the matured Child Trust Fund into an adult ISA within 24 hours.
What account do I need to access my money?
You’ll need to have a UK current or savings account in your name if you choose to make a withdrawal, so be sure to get that sorted out in advance.
If you don't currently have a suitable account, you can set one up with most high street banks, building societies, credit unions or the post office.
For more information on our accounts please see the account options below, which may help you decide which one is the best for your circumstances.
For more information on our accounts please see the account options below which may help you decide which one is the best for your circumstances.
Current accounts OpenClose
Move your funds to a current account
Keen to get your hands on your money? You might want to put the funds into a current account.
Move your funds to a current account
A current account lets you:
- Get your wages/salary directly into your current account.
- Pay bills using direct debits and standing orders.
- Easily manage your account anywhere, anytime with our mobile banking app. Criteria apply.
- Pay with Apple Pay, Google Pay or with a Contactless Debit Card. Limits apply.
To apply, you need to be 18+ and a UK resident. Specific account eligibly criteria may apply.
Savings OpenClose
Start saving for something great
Saving isn’t just for a rainy day. How about saving for lots of sunny days on an overseas adventure? Or maybe you’re thinking about buying your first car? If you’ve already got plans for the money in your Child Trust Fund then a savings account could be the best place to put it.
Start saving for something great
- A savings account is a safe place to put your money if you’re saving up for something in the future.
- Savings accounts will usually give you a better interest rate than a current or basic account.
- The more you save, the more interest you could earn.
- You could choose an instant access savings account, or a fixed term account that usually have higher interest rates, but you might lose out on that interest if you want to take your money out before the end of the term.
Individual account eligibility criteria apply.
Investments OpenClose
Investing for later
Some things are worth waiting for. So if you want to start saving for a longer term goal (usually five years or more), then investing could be a good option for you. Before deciding on investing you must first ensure you are aware of the risks.
Investing for later
- Royal Bank Invest allows you to choose from 5 ready-made funds with varying levels of risk from cautious to daring.
- Investing could offer better returns than saving alone, but the value of your investment could go down as well as up, which is why we suggest investing over the long term.
- Start investing from £50.
What is investment risk?
Risk is the possibility that your investment will lose money. Generally, all investments carry some degree of risk. Risk free would be where you hold cash in a current or savings account or a Cash ISA.
The value of investments can go down as well as up, your capital is at risk. Eligibility criteria, fees and charges apply.
Can I gift more money to my child’s Child Trust Fund?
Although Child Trust Funds are closed to new business, you can add money to an existing Child Trust Fund account. You can do this by setting up a direct debit or paying in by cheque or by debit card over the phone. Whichever option you choose, you should be aware that:
- once the money is gifted it becomes the property of your child and cannot be withdrawn until your child reaches 18
- you can gift lump sums by cheque of £10 or more
- you can gift a regular monthly amount from £10 a month
- the maximum amount that can be saved each year is £9,000. A year starts on your child’s birthday and runs to the day before their next birthday.
Other Frequently Asked Questions (FAQs)
We’ll send you a letter 20 days before your 18th birthday.
If you’re 18 and you haven’t received a letter, please email us on admin@ciflinvestments.natwest.com or call us on 0345 300 2585 - Relay UK: 18001 0345 300 2585.
You don’t need to have an account with us to withdraw the funds from your Child Trust Fund, but you must have a current or savings account in your name with another bank or building society that we can pay your money into.
Document List | Validity Guidelines |
Current signed passport |
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Current signed UK/EEA photo-card driving licence (full or provisional), or blue disabled driver’s pass |
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Military ID Card |
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Recent evidence of entitlement to state or local authority funded benefit, including housing benefit and council tax benefit |
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UK Birth/Adoption Certificate |
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EU/EEA member state identity card
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PASS Card (Card must have a ‘PASS’ hologram on it) |
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Most recent HM Revenue and Customs tax notification, assessment or statement |
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Using the online portal
The registered contact (the person who has parental responsibility for the child) will lose access to the portal once the child reaches 18.
If you believe you should have access to the online portal but you can’t get into it, please watch the ‘Online Registration Help’ video. You can also email us on admin@ciflinvestments.natwest.com or call us on 0345 300 2585 - Relay UK: 18001 0345 300 2585.
If you have turned 18 and you don’t want to use the online portal, please see the steps outlined in our Postal Maturity Information Form.
Investing the Child Trust Fund money
The money is invested mainly in the stock market so they have more potential to grow. However, please bear in mind the value of the fund may fall as well as rise and returns are not guaranteed, and the capital is at risk.
The money is invested in the Personal Portfolio Balanced Fund that is managed by the experts at Coutts & Co.
This fund offers lower risks than investing directly in shares because the fund spreads your child’s investment across equities, bonds and cash.
There is still a risk that your fund value could go down as well as up.
You can find more details in our full Key Investor Information Document (KIID) and Supplementary Information Document (SID).
Transferring or withdrawing the money
No. Only your child can withdraw their money from the Child Trust Fund when they reach the age of 18.
Should your child become terminally ill before age 18, the registered contact will need to apply to HMRC for authority to withdraw the money. Where your child has passed away the Child Trust Fund is payable to your child’s personal representatives subject to appropriate evidence of death.
Although you can no longer open a new Child Trust Fund , you can transfer your child’s existing Child Trust Fund to another Child Trust Fund provider
A Child Trust Fund can be transferred to a JISA. This could be to the same provider (check your provider facilitates this) or to a new one.
To transfer your child’s Child Trust Fund from ourselves to a different provider you will need to contact the new Child Trust Fund provider and complete their forms.
A Child Trust Fund can be transferred to another provider, a Cash JISA or a Stocks and Shares JISA before your child turns 18.
Your child and/or the registered contact will be contacted before your child’s 18th birthday outlining the options for the Child Trust Fund, which will include the option of moving the investment into an adult ISA.
When deciding what to do, you have two options:
- Cash Child Trust Fund: a low-risk option that works like a normal savings account. It’s likely your child will get back the money that you put in, plus interest on top. We don’t currently offer a Cash Child Trust Fund Cash so if you prefer this option you’ll need to transfer the Child Trust Fund to another provider.
- Stocks and Shares Child Trust Fund: investing generally means the potential for higher gains but there’s also the greater chance of losses. You may not get back the money you invested. When investing in stocks and shares it is usually recommended to invest for a minimum of 5 years.
If you have a cash-based Child Trust Fund you’ll receive a set interest rate. If interest rates are low, returns on cash are generally lower and inflation can erode away earnings potential, so some investors prefer to take on a little more risk for potentially higher returns.
It’s important to remember that a stocks and shares JISA is invested in the stock market and the value of the Child Trust Fund can go down as well as up and your child may get back less than was invested.
A child cannot have both a Child Trust Fund and a Junior ISA, but an existing Child Trust Fund with us can be transferred to our Junior ISA.
To speak to our Junior ISA team, please call us on 0345 877 7103.
If you have any questions including how to add funds or the charges applicable, please contact us.
You can find more details in our full Key Investor Information Document (KIID) and Supplementary Information Document (SID).
Managing the fund
Once your child turns 16, they can either:
- Take over the account by contacting the Child Trust Fund provider
- Leave the registered contact in charge of the account
When your child turns 18, they will automatically take over the account and can take out the money.
You will need to contact your Child Trust Fund provider who will advise you on what you need to do.
You won’t be able to withdraw the money until the age of 18.
Parents are not able to stop a 16 year old from taking control of their Child Trust Fund.
If you’re the main contact for the Child Trust Fund account you’re called the ‘registered contact’. You have certain responsibilities until your child turns 18, unless your child chooses to take control of their own account at age 16.
Your responsibilities as the registered contact are to:
- make sure that the Child Trust Fund is with a provider that provides an appropriate Cash or Stocks and Shares Child Trust Fund account that meets your desired risk appetite
- keep the address and other personal details up to date
- switch to another provider should your circumstances change and your current provider does not have an appropriate product offering
- make any other investment decisions
Get in touch
You can only give us your maturity instruction once you turn 18. On your 18th birthday, your Child Trust Fund will convert into a Matured Child Trust Fund and you can tell us what you want to do with your money.
Call us
For general questions, to top up your Child Trust Fund or updating contact details, you can call us on 0345 300 2585. Relay UK 18001 0345 300 2585.
Telephone lines open Monday-Friday 8am – 6pm (excluding bank holidays). Calls are recorded.
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Write to us
If you'd prefer, you can write to us at:
RBS Collective Investment Funds Limited
PO Box 9908
Chelmsford
CM99 2AF
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Learn more about investments
Whether you’re an experienced investor or just finding out what investing is, we’ve got a range of articles to help you understand more about investing.
We regularly update our articles depending on what’s happening in the market so check back for future updates.