Parents guide to Child Trust Funds

We'll explain what happens to their fund when they turn 18, and what their options are. 

You'll also learn what to get ready as their parent or registered contact.

Remember, the HSBC Child Trust Fund is investment-based and all investments carry risk. Investing has its ups and downs – so you could get back less than you invest. Tax rules can also change and any benefits depend on your individual situation.

Once a child turns 18, their Child Trust Fund will mature. 

2 months before the child's 18^th birthday, we'll send you (as the parent or registered contact) a letter to explain that once they turn 18, legal ownership of the HSBC Child Trust Fund will be in their name and all correspondences will then be sent directly to them.

They’ll then need to confirm what they would like to do with the investments and we'll explain what their options are.

The contact details we have can be found on your most recent annual statement. If they need to be updated, or the signature that's on file please get in touch with us.

Before their account is due to mature, please make sure that the child is happy with their registered contact.

The registered contact can be changed if any of the following apply:

• The registered contact no longer wants to be the registered contact
• The child is aged 16 or over and wants to become the registered contact
• Contact with the registered contact is lost
• The registered contact becomes incapacitated or dies
• The child is adopted
• A court order that names the registered contact as responsible for the child expires
• A new court order confirms that the registered contact should no longer be so

To change the registered contact, please complete our Change of registered contact form. Or get in touch with us and we’ll send you a copy.

Whichever option the beneficiary chooses, they'll need ID and proof of address. In most cases, this involves taking the documentation into an HSBC UK branch.

Once the beneficiary turns 18, no further contributions can be accepted into the account. So, make sure all payments are received before the Child Trust Fund matures.

If you think the beneficiary may not be able to make a financial decision on their matured Child Trust Fund once they turn 18, you'll need to make an application to the Court of Protection to get authority to access this money on their behalf.

Some young people may only need financial support, in which case they may be able to make a Lasting Power of Attorney. This would give you the authority to access the account for them. But, acting as an appointee for benefits won't give you legal access to the matured Child Trust Fund.

To find out more information about how to manage finances on behalf of someone, visit the GOV.UK website:

If you decide you need to appoint someone to act on their behalf, take a look at how to assist someone with their money It explains the documents needed to appoint a deputy who can instruct us on the matured Child Trust Fund.

If you think you might like advice, find out more about our investment advice options. Eligibility and fees apply.

To find out more about the wider industry, including how to seek independent financial advice, you can visit MoneyHelper.

Need support applying? If you think you might need support before making an investment decision, we can help you get specialist investment support.

You can get in touch with us to arrange what to do when the child's account matures. Or, if you haven't received a letter, need to update your contact details or a signature that's on file.

Give us a call on:

0345 606 6241

You may need to visit a branch to update your contact details or a signature that's on file.