Transfer it to a Junior ISA
Because new CTFs are no longer available, you may be able to get a better deal by transferring the funds to a new Junior ISA provider.
You can transfer the funds without this impacting the child's tax-free allowance for the year.
You can arrange a transfer by contacting your chosen Junior ISA provider.
If you're thinking about transferring a Child Trust Fund, take a look at our My Select (Junior ISA).
Continue to contribute
You can continue to add up to £4,368 a year to your CTF account.
Anyone can make a payment into a CTF.
You can't withdraw the money as it belongs to the child and they can only take it out when they're 18.
If you have a Scottish Friendly Child Trust Fund you'd like to contribute to, you can find out more in our help centre.