FREQUENTLY ASKED QUESTIONS
If you can’t find the answer you are looking for, please feel free to email us at [email protected]
If you can’t find the answer you are looking for, please feel free to email us at [email protected]
What is Silo Gift?
Silo Gift is a new feature that allows friends and family to directly contribute cash into a Junior ISA (JISA) or Child Trust Fund (CTF).
Gifters with a Silo account can take advantage of setting up regular weekly, monthly or yearly contributions, link multiple beneficiaries, view previous gifting activity, and sent messages.
Why Gift into a Junior ISA or CTF?
As an alternative to a toy or game, grandparents, godparents, aunts, uncles, family and friends can directly contribute into a child’s Junior ISA or Child Trust Fund.
How can I send a gifting link to family and friends?
- To send a Gift link, log in to your Silo account
- From the top left corner select the account you wish to generate a gift link for. This is the Junior ISA or CTF you manage.
- Tap to share your Unique Gift Link via SMS, Email, WhatsApp or Contacts.
How to send a cash gift to a Silo account
- Click on the Silo Gift link which was sent to you by SMS, Email or WhatsApp.
- Fill in your details, including any middle names as these will be verified when making the payment. Tap proceed to payment.
- You’ll be directed to Truelayer to connect with your bank to authorise payment. Truelayer is an open banking, secure payments provider regulated by the FCA.
- Log in to your bank account to authorise your Silo Gift and complete.
Is Silo Gifting safe?
Yes – Silo connects to your bank via Truelayer, an open banking, secure payments provider regulated by the Financial Conduct Authority (FCA).
Do I need a Silo account to gift into an account?
No, simply click the Unique Gift Link you were sent and follow the onscreen instructions.
What is the maximum I can gift?
The maximum you can gift depends on how much remaining balance you have in the JISA or CTF account. This information can be accessed on the first page from the gifting link under the title ‘Remaining Allowance’.
Can I set up a regular Gift?
Yes, you can set up a regular Gift by creating a Silo account. Gifters with a Silo account can take advantage of setting up regular weekly, monthly or yearly contributions, link multiple beneficiaries, view previous gifting activity, and send messages.
Can I add a message to the Gift?
Yes, you can add a personal message with your Gift. Simply follow the instructions and enter a personal message under ‘Your message’.
What currencies can I send the gift in?
GBP
How do I get in contact with support?
You can contact our support team via email at [email protected]
