Stocks & Shares ISA
Yes, we do. You can open a Stocks & Shares ISA or a Junior Stocks & Shares ISA with us. However we do not offer Cash ISAs or Junior Cash ISAs.
Two per tax year – one Cash ISA and one Stocks & Shares ISA. However, there are no limits on the number of different ISAs you can hold over time.
Orbis Access does not offer Cash ISAs.
You can take your money out of your Stocks & Shares ISA at any time absolutely free of charge. Please remember, money taken out of your current tax year ISA will count towards your current year ISA allowance.
You can hold cash within the Orbis Access Stocks & Shares ISA in a facility called ‘uninvested cash’. This is handy if you want to use your entire ISA allowance for a particular year, but aren’t sure in which funds to invest yet.
Since we don't pay interest on uninvested cash, it's best to invest it in a fund sooner rather than later.
You can invest up to £15,240 in an ISA in the 2016/17 tax year. As little or as much of this allowance can be used in a Cash ISA, a Stocks & Shares ISA, or both, depending on your personal investment objectives.
Remember, Orbis Access doesn’t offer Cash ISAs and any money left as uninvested cash in an Orbis Access Stocks & Shares ISA will not earn any interest.
No, we don’t pay interest on uninvested cash held in your Stocks & Shares ISA or any other Orbis Access accounts.
The government recently announced changes to ISAs - increasing the allowances and making them more flexible. These 'new ISAs' are sometimes referred to as 'NISAs'. You can find out more from HMRC. Orbis Access ISAs and Junior ISAs are in line with the new ISA rules.
Junior Stocks & Shares ISA
You can invest up to £4,080 in a Junior ISA in the 2016/17 tax year. As little or as much of this allowance can be used in a Junior Cash ISA, a Junior Stocks & Shares ISA, or both, depending on your personal investment objectives.
Remember, Orbis Access doesn’t offer Junior Cash ISAs and any money left as uninvested cash in an Orbis Access Junior Stocks & Shares ISA will not earn any interest.
Any child resident in the UK that is under 18 years of age can have a Junior ISA.
Only a parent or legal guardian of a child under 18 can open an Orbis Access Junior Stocks & Shares ISA on their behalf. This person is known as the ‘Registered Contact’ of the account.
Each child can have one Junior Stocks & Shares ISA and one Junior Cash ISA at any one time. These can be with two different providers. Money can be put into one or both of these each year, but the total paid into both should not exceed the annual allowance.
A Junior ISA is an Individual Savings Account that offers the tax efficiency of an adult ISA but is designed especially as a tax-free savings account for children. A parent or guardian can open one and invest money on behalf of a child. The money invested is locked away until the child turns 18 years of age, making it a great way to save for the child’s future.
As with regular ISAs, there are two types of Junior ISAs - Junior Cash ISA and Junior Stocks & Shares ISA. Please note that we do not offer Junior Cash ISAs.
Anyone can pay into an Orbis Access Junior ISA. Whether you’re the parent, grandparent, a family member or friend, you can all contribute towards a child’s financial future. If you’d like to pay into a Junior ISA, all you’ll need is the account number, child’s date of birth and a debit card. For more information, see our Junior ISA payment page.
Contributions made using this method will be held as uninvested cash. We will notify the registered contact (parent or guardian) when a contribution has been made to the account, as they are the only person allowed to make investment decisions.
No, it’s not normally possible to take money out of the Junior ISA until the child turns 18 years of age. Withdrawals are permitted only in exceptional circumstances, such as when the child has been diagnosed with a terminal illness or the child has passed away. Please contact us if you need more information.