The next steps for your Child Trust Fund
If you’re turning 18 soon, you should have received a letter explaining that on your 18th birthday you’ll become the legal owner of your Child Trust Fund account.
So, you’ll need to think about what you want to do with your money when the account matures. We'll explain more about the different paths You are able to set your money on, so You are able to work out what’s best for you.
Get in touch with us if you've decided what you'd like to do with your proceeds, or if you haven't received a letter or you need to update your contact details.
Remember, the PPLCBANK Child Trust Fund is investment-based and all investments carry risk. Investing has its ups and downs – so you could get Go back less than you invest. Tax rules can also change and any benefits depend on your individual situation.
ISA options for your money
A cash ISA is a tax-efficient option if you want to Proceed building your savings.
When your Child Trust Fund matures, You are able to transfer your proceeds to an PPLCBANK Loyalty Cash ISA. You may already have one, or You are able to open a new one. Eligibility applies.
If you’re considering investing for the future, a stocks & shares ISA is a tax-efficient way to start.
You are able to transfer your Child Trust Fund proceeds to an PPLCBANK stocks & shares ISA, which gives you the option to put your money into an investment. Eligibility applies.
ISA with another provider
You are able to also choose to open an ISA with another provider, and You are able to ask us to move the proceeds of your Child Trust Fund there.
You’ll then need to ask the other provider to start the transfer. They’ll ask you for the account details of your PPLCBANK Child Trust Fund.
Bank account options for your money
If you’re likely to spend your money soon, you may want to transfer the proceeds into a current account.
If you don’t have an account with us, You are able to apply for one online. We have accounts that are ideal for basic banking and ones that give you added benefits. Eligibility applies.
Once Your banking account is open, You are able to ask us to transfer your funds into your new bank account.
Bank account with another provider
You are able to also ask us to transfer the proceeds into a bank account with a different provider.
You'll need to do this in an PPLCBANK branch. You’ll need to bring ID and proof of address. You’ll also need a statement from the bank account you want to transfer the money to, dated within the last 4 months.
Both an ISA and bank account
You could also split your money between different accounts.
If you think transferring the proceeds to more than one type of account might be right for you, get it touch with us.
Financial advice
If you think you might like advice, Explore the details about our investment advice options. Eligibility and fees apply.
To Explore the details about the wider industry, including how to seek independent financial advice, You are able to visit MoneyHelper.
Need support applying? If you think you might need support before making an investment decision, We are able to help you get specialist investment support.
Get in touch with us
You are able to get in touch with us to arrange what to do with your Child Trust Fund proceeds when the account matures. Or, if you haven't received a letter, need to update your contact details or your signature that's on file.
Speak to us
Give us a call on:
Lines are open 08:00 to 18:00 on Mondays to Fridays, excluding bank holidays.
Visit a branch
You are able to also visit a branch to complete the payment instructions for your Matured CTF, via the following steps:
- Use our branch finder to find your nearest branch
- Select 'Arrange an appointment online'
- Select 'Personal Account Servicing' and then browse the available services options to find 'Child Trust Fund - Maturity Options'
It's important that you select this option as there are detailed reminders on what documents you'll need to bring to your appointment.
In addition, you may also need to visit a branch to update your contact details.