OneFamily review

You need a minimum deposit of £25 to open the account. That keeps the starting point low, so you can open it with a modest amount and add money over time rather than committing a large sum upfront.

The range is narrow and specific: lisa and jisa. Both are built around saving for a child in a tax-sheltered wrapper, so OneFamily is not a place to hold an adult's own investments or a self-invested pension.

Withdrawals that are not qualified attract a government withdrawal charge, which is a percentage set by the government rather than by OneFamily. The charge is listed under deposit and withdrawal fees, so taking money early reduces the amount you receive.

The account can hold stocks and funds, so your child's savings are invested in shares and funds rather than sitting in cash. That is a deliberate choice, and it means the value of the account can move up or down.

Yes, it is regulated by Financial Conduct Authority (FCA), and the account is provided by Family Assurance Friendly Society Limited. Its FCA registration is listed as 181487, so you can check the firm against the register before you open anything.

Eligible investments are covered by FSCS up to GBP 85,000. That means the FSCS protection applies up to the stated limit for eligible money, which gives some reassurance about the safety of a long-term account that is meant to be left alone.

Support runs on help centre and email, so you can email or use the help centre. There is no phone support listed, which is worth knowing if you prefer speaking to someone about a long-term account.