Can I Withdraw Money From My Child Trust Fund

Child Trust Fund guide

Got a question about Child Trust Funds? Find your answer here

The Child Trust Fund (CTF) was a long-term savings and investment account introduced by the government, encouraging saving for a child's future.

FAQs

How do I find out whether I have a Barclays CTF?

Barclays CTF is provided by OneFamily¹. To find out more, please visit the OneFamily website.

Alternatively, please contact

Telephone: 03448 920 920 ²

Address:
OneFamily Customer Service Team
16-17 West Street
Brighton
BN1 2RL

Where do I look if my CTF is with a different provider?

Visit gov.co.uk for further details on what to do.

What happens to the account when my child turns 18?

The account matures when your child turns 18. This means the funds in the account become available and only your child will be able to access the money. If your child has a Barclays CTF, OneFamily will be in touch with more information before your child approaches their 18th birthday. OneFamily will explain the options available to your child when their CTF account matures. If you have any questions, please ask OneFamily.

Visit OneFamily

Telephone: 0333 2255 068² (for maturity queries only)

OneFamily customer service team email: customerservices@onefamily.com

Address:
OneFamily Customer Service Team
16-17 West Street
Brighton
BN1 2RL

You can also visit The Money Advice Service for further information on CTFs.

Can I still open a CTF?

The scheme has now been withdrawn and no new CTF accounts can be opened. CTFs were replaced with the introduction of Junior ISAs in November 2011. We don't offer Junior ISAs right now, but you can see our guide for more information.

Can money be withdrawn from the CTF before my child reaches age 18?

No. Only your child can withdraw the money, and only when they reach 18 years old.

How can I find out the value of my child's Barclays CTF?

If you sign up for Online Account Management provided by OneFamily, you can check the current value of the account any time you want. OneFamily will also send you a statement just before the child's 11th, 16th, 17th and 18th birthdays. If any contributions have been made into the account in the previous statement year, you will also receive an annual statement. In the meantime, if you require a statement, please call the OneFamily customer service team on 03448 920 920².

Who can I talk to for further information on my child's Barclays CTF?

If you have any questions, please ask the OneFamily customer service team on 03448 920 920².

Complaints

If you have a Barclays CTF and you need to make a complaint, please contact OneFamily customer service team on 03448 920 920².

Address:
OneFamily Customer Service Team
16-17 West Street
Brighton
BN1 2RL

Email: customerservices@onefamily.com

Website: onefamily.com

Additional important information

The provider of the Barclays CTF is Family Equity Plan Limited (FEPL) (trading as OneFamily). The Barclays CTF is a Stakeholder CTF, which means that some funds are placed in investments, and some are placed in cash. The Barclays CTF invests in a security called PROSPER 1 (known as PROSPER) – a type of corporate bond, which is a loan to a company – in this case, Barclays Bank PLC. For more information about PROSPER, please refer to the Barclays CTF fact sheets on OneFamily's website. If you have further questions, please contact OneFamily customer services team on 03448 920 920².

Are returns from the CTF taxable?

Returns on CTF accounts are exempt from income tax and capital gains tax. Your entitlement to other family benefit and tax credits isn't affected either. Remember, tax advantages depend on individual circumstances and may change in the future.

Are your contact details up-to-date?

If you have a Barclays CTF, please make sure that your contact details are kept up-to-date with OneFamily, including your home address and email address, so that OneFamily can contact you about your investment. You can do this using OneFamily's Online Account Management or call OneFamily customer services team on 03448 920 920².

Barclays CTF important information booklet

If you'd like to see a copy of the Barclays CTF Important information booklet, please call the OneFamily customer service team on 03448 920 920².

Important information

OneFamily is a trading name of Family Equity Plan Limited (Co. No. 2208249), which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales at 16-17 West Street, Brighton, East Sussex, BN1 2RL.

The Barclays CTF Account is provided by OneFamily. Neither OneFamily nor Barclays provide financial advice on this product. If you would like advice on whether the Barclays CTF remains suitable for your child's needs, please seek independent financial advice. To find an adviser in your area, please visit www.unbiased.co.uk. All advice may be subject to fees.^{Return to reference}
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