Child Trust Funds

What is a Child Trust Fund?

A Child Trust Fund (CTF) is a long-term tax-free savings account for children. The child takes control of their account when they turn 18.
Please note: We don’t offer this type of account any more.

Find a Child Trust Fund

You can use the Government website to find a Child Trust Fund if you don't know where it's held. You'll need to fill in a form online to ask HMRC where the account was originally opened.

You'll need a Government Gateway user ID and password. If you don't have one, you can create one when you fill in the form.

Taking over your account

Once you turn 16, you can take over the account by contacting us. We can then remove the registered contact if you want. But you won't be able to close your account or withdraw the money.

Once you turn 18, you can take over the account and withdraw the money.

What happens when I turn 18?

You will be contacted by us when you turn 18, the money in your Child Trust Fund will be moved to a 1 year ISA Holding Account. This account is designed to be a temporary home for your savings until you decide what to do with the account.

You'll need to confirm your identity to withdraw the money or transfer it to a different account.

What ID do I need to provide?

See the full list of ID we can accept. We appreciate you might just have a passport or driving licence. If this is the case, get in touch and we'll see how we can help.

Call us to discuss your ID options on 03450 502 252

Leave your money where it is

Your account will mature on your 18th birthday. We'll then automatically transfer your savings to a 1 Year ISA Holding Account in your name. You won't be able to add any more money to this account and it won't have a registered contact like your Child Trust Fund.

The 1 Year ISA Holding Account is a Cash ISA, but it won't count towards your current year's ISA allowance – unless you later transfer your savings to a Lifetime ISA elsewhere.

Your holding account will mature on your 19th birthday. We'll write to you at that time to let you know your options.

Transfer to another account

You can move your money into another Leeds Building Society account without losing any interest or giving us notice. You'll be able to pay into the new account subject to the terms and conditions.

Call us to transfer to a new account on 03450 502 252

You can also move your money to an account with another bank or building society. If you want to transfer to another ISA, get in touch with the other provider and they'll sort it out for you.

We'll need to see your ID

You can close your account and withdraw your money. Please bear in mind that your money will lose its tax-free status if you do this. To do this, we'll need proof of your identity. We can accept a valid passport or driving licence, either by post or in branch.

Send via post

1. Send certified copies of your ID to:

26 Sovereign Street
West Yorkshire

2. You'll then need to call us to close your account and withdraw your savings.

To close your account call us on 03450 502 252

Call into a branch

Go to your local branch and show your ID. You'll then be able to close your account in branch.

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We can only speak to you if you're a registered contact on the Child Trust Fund and the child hasn't turned 18 or taken over their account yet.

Frequently asked questions