Taking money out

Former Member

Heyy,

I looked on the banks website, and couldn't find anything... but does anyone know if my mum has to be with me when I take money out of the bank because I'm under 18?
Thanks,
Xx

Former Member

Dunno. I'm with HSBC and on their site. 11+ you get a basic ATM card and 13+ you can have a debit card, with parents permission.

Have you got a passbook ?

Former Member

Yeah I have, but my mum has just decided she's taking all the money back (even though half of it was mine in the first place!) sooo don't worry. I only wanted stuff for school FFS, but apparently I'm not even allowed that.
Xx

Former Member

Broken-Angel wrote: »

Yeah I have, but my mum has just decided she's taking all the money back (even though half of it was mine in the first place!) sooo don't worry. I only wanted stuff for school FFS, but apparently I'm not even allowed that.
Xx

She cannot remove your own money from your own account. she is not the account holder so I do not believe she can remove it, unless she is also on the account!

Former Member

She says she can It's under my name, but because I'm under 18 she says she still has control
Xx

Former Member

She can't. Not without you there and agreeing to it. It's YOUR account.

The answer to your original question is yes, by the way, I used to do it all the time.

Former Member

I didn't have my own cash card until I was 18, but I was a member of the Post Office bank. You had a blue book for your current account and a grey book for your savings. You could go into any any post office branch to withdraw or deposit money. For the current (blue) book, the process was instant, like using a cash card. The savings (grey) book was somewhat slower (like days or weeks). I don't know how relevant this information is now.

Former Member

I used to transfer money out of my savings into my current account all the time too, and it was instant.

Former Member

What kind of account is it? Some accounts are controlled by parents until the young person turns 18.

Former Member

I think it's classed as a savings account... but it says on the banks website you can make withdrawels whenever. But would my mum have to get my dads permission to take all my money ? I have like... £2000! I don't want to loose it all.
Xx

Former Member

Maybe slowly with draw the money and get your dad to put it into another account

Former Member

With my savings account I think my parents could take the money out. I remember if i wanted money out dad used to get it for me and i didn't have to be there. But i am sure after i was 11 i had to be there and sign to get money out.

Former Member

Broken-Angel wrote: »

I think it's classed as a savings account... but it says on the banks website you can make withdrawels whenever. But would my mum have to get my dads permission to take all my money ? I have like... £2000! I don't want to loose it all.
Xx

I don't think any of us can give you a definitive answer. Why don't you call the bank for advice?

Former Member

It depends on what sort of account it is. If it's an account opened by your parents for you and you're under a certain age then it'd most likely be an account in your parent's control, so they could withdraw the money, and you would not need to be there.

It'd probably be obvious from statements or the account book whose name it is in.

Former Member

Hey there,

There is no legal age limit on when you can open a bank account; however each bank has it's own rules. Also, banks will not usually allow under 18's to have an overdraft facility as they are not yet responsible for their debts.

You don't mention how old you are or what type of bank card you have; and you may not wish to disclose this information which is perfectly fine.

Overthehill is correct in saying

I don't think any of us can give you a definitive answer. Why don't you call the bank for advice?

Your bank should be able to answer all your questions as they will know exactly what account you have and under who's power it is under.

You could also try finding the initial papers that came from the bank when you opened your account which may have more information.

Hope you find some answers soon.

Former Member

I got a cashcard at 11 ( a smart account at Nationwide), and could withdraw money by myself. I once asked my mum if she was able to take my money out without my permission, and she said that she wouldn't be able to, but it may just have been the type of account that I had. Like somebody said, try calling up the bank. If they say she is able to do that, would you be able to take it all out and get your dad to open up another account in your name only?

Former Member

I'm pretty sure the bank account is in my name. Anyway, my mum says she's taking the money whether I like it or not, and I really can't be bothered to argue with her anyway :-/
Thanks guys
Xx

Former Member

How much are we talking about anyway?

Just take it out before she does

Former Member

i can take money out of my sons account, and have done several times when skint (and put it back later)
Depends on the type of account.
Is your mum skint, or just being mean?

Former Member

Broken-Angel wrote: »

I'm pretty sure the bank account is in my name.

Why don't you pop into the bank after school and ask them what the situation is?

Former Member

She's just being mean, and it's nearly £2000

Anyway, I'm just going to not say anything for a bit and hopefully she'll forget. I'll try and go to the bank too, but it's like and hour from school and it closes at like 5
Xx