Child Trust Fund - Savings Support

What happens to your child's money?

This Child Trust Fund account is provided by OneFamily. The account is a 'stakeholder account,' which means it meets strict criteria.

This account invests in stocks and shares. The value of the account can fall as well as rise and your child could receive back less than was paid in.

How the account operates

• Anyone can pay into the account. Parents, grandparents or other family members or friends can make a deposit (from as little as £10) into the account up to a combined total of £4,260 in the current subscription year.
• You can add one off payments and also set up a Direct Debit to make regular payments.
• All payments into the account are a gift to the child, which they can withdraw when they reach 18 years of age.
• Online statements let you keep track of how the account is performing. You can call OneFamily at any time for a valuation.
• Returns are free from tax, though tax advantages depend on individual circumstances and may change in the future.

Ways to add to your child's Child Trust Fund account

There are a number of ways to add to your child's Child Trust Fund:

By phone

Call OneFamily on 03448 920 920 to set up a regular Direct Debit or standing order, or to make a single one-off payment. OneFamily might record your call to help improve their training and for security purposes. We hope you don't mind. Calls to 0344 numbers are charged at a local rate and the actual cost will depend on your provider's tariff, so please check with them if you'd like to know more.

By cheque

Send a cheque with the child's name, date of birth and account number on the back to the address below. Make the cheque payable to OneFamily or the child. Send your cheque to:

OneFamily Child Trust Fund
FREEPOST BR2206
Brighton
BN1 2BR

Online by Direct Debit

Set up a regular direct debit or one-off payment. Have your child's CTF account number and your bank details to hand.

The Sainsbury’s Bank CTF is provided by OneFamily.

OneFamily is a trading name of Family Assurance Friendly Society Limited (incorporated under the Friendly Societies Act 1992, Reg. No. 939F), Family PEP Managers Limited (Co. No. 2934967), Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249). Registered in England & Wales at 16-17 West Street, Brighton, BN1 2RL, United Kingdom. Family Assurance Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Family PEP Managers Limited, Family Investment Management Limited and Family Equity Plan Limited are authorised and regulated by the Financial Conduct Authority.

If you already have a Sainsbury's Bank Child Trust Fund you can manage it online.

Register or log in to manage your account.

Once registered you'll be able to:

• Check the current value of your child's account
• View an up-to-date statement summary
• See what the value of your child's account may be at age 18
• See how much you can still top up this year
• Set up and manage your Direct Debit

The Sainsbury’s Bank CTF is provided by OneFamily.

OneFamily is a trading name of Family Assurance Friendly Society Limited (incorporated under the Friendly Societies Act 1992, Reg. No. 939F), Family PEP Managers Limited (Co. No. 2934967), Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249). Registered in England & Wales at 16-17 West Street, Brighton, BN1 2RL, United Kingdom. Family Assurance Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Family PEP Managers Limited, Family Investment Management Limited and Family Equity Plan Limited are authorised and regulated by the Financial Conduct Authority.

What’s the difference between stakeholder and non-stakeholder?

There are strict rules for Stakeholder accounts. For example they must start off investing primarily in shares and they can't charge you more than 1.5% annual management charge.

Not every Child Trust Fund account will meet these criteria - some will charge more or less than the maximum and others will put your money into an alternative investment such as a cash savings account. While there is nothing wrong with these, Sainsbury's Bank believes that Stakeholder accounts are a potentially profitable way to invest your child's money. You should remember though, that just because a Stakeholder account will meet certain criteria it does not mean it is suitable for you or your child or has a guaranteed return. It is possible your child could get back less than was invested.

What are the charges?

A Stakeholder account has annual charges of no more than 1.5% per annum of the value of the fund. Providers may also levy a charge for incidental services such as share dealing in transfer cases.

How much can be paid into my child's Child Trust Fund account?

The limit is £4,260 in any subscription year — the date of the child’s birthday to the day before their next birthday. This excludes the value of the voucher in the first year. Remember that only your child can access the money and only when they are 18.

Who can pay into my child's Child Trust Fund account?

Anyone can 'top up' your child's Child Trust Fund account as long as the total amount paid in during the subscription year doesn’t exceed the investment limit.

Am I committed to regular contributions?

No. You may invest as and when you like. You’re not obliged to pay anything into the Child Trust Fund account other than the Government voucher.

How long will it take to transfer funds?

If you send money to your account by Faster Payments, it should arrive no later than the next business day. If you send money from your account before 5pm on a business day, the funds will arrive in the external account on the same day. If it's after 5pm, it will arrive on the next business day.

If you make an online transfer to an external account by 5pm Monday to Friday it will be transferred by midnight on the same day. Transfer requests after this time will be made on the next business day.

Transfers between Sainsbury's Bank accounts normally arrive in your account straightaway, except when you make them after 8pm or on a non-bank working day.

Can I access the money invested into my child's Child Trust Fund account?

No. You can only pay money into your child's Child Trust Fund account. Your child is the only one who can access the money in their account, but not until their 18th birthday.

Can I transfer it to another provider if I want to?

Yes. The account can be transferred (in whole) to another provider at any time. There should be no fee for the transfer providing you transfer between Stakeholder accounts. However, providers are allowed to charge the account with the costs of any share dealings necessary as part of the transfer process. You will be able to transfer your child's Child Trust Fund account as many times as you wish.

If you have any queries on your Child Trust Fund, contact OneFamily on:

This CTF account is provided by OneFamily. OneFamily does not provide advice on this product. If you have any doubts about the suitability of this product you should seek financial advice.