Can I open an account for someone else?

emp_3

Hi all

I am a newbie, so hope this doesn't sound a moronic query!

My bro currently lives at home but is thinking of starting to save to buy somewhere..... I am all for this so thought for Xmas I could open him an account and put some cash in it, rather than buy him some pointless pressie.

Can I do this?! or do u have to open them yourself? I know all his details...?

Then the important secondary question, which account would anyone recommend? It cannot be instant access, or he will spend it, but be good if it was an internet account.

Ta

Emp

Rikki

Get him to open the account. You give him a cheque.

emp_3

Rikki wrote: »

Get him to open the account. You give him a cheque.

hmmm, it not a very sexy xmas pressie then tho !

but i suppose a cheque is a good idea ...

ta

x

Lokolo

Or you could get his details from a letter (account number etc.) and transfer it across on xmas day

sabretoothtigger

Think you can buy premium bonds for someone else and maybe other po products, not sure

miserable_ol_so_n_so

..sorry....but all i'm doing is living up to my username.......i think you will find it virtually impossible to open an account for someone else.....unless you can furnish the paerwork such as passport, drivers licence, utility bills etc in the name of the account holder.......also, you will have problems buying premium bonds too.....unless you have the account holders bond holder number.........sorry to be the bearer of bad news.......

sabretoothtigger

You could do all the paperwork and then just get a signature and send it off. But not exactly bling, but then money isnt till you get to spend it generally I guess
Laundering and tax rules probably prevent anything easier then that unless you lie and forge it all :O

The exception would be legal guardians I guess

atypical

You'd have to have Power of Attorney me thinks. Perhaps fill in the application with cheque leaving him to just sign it and send it off? Slightly 'sexier' that way.

Fixed rate accounts are probably your best bet.

emp_3

ha ok, thanks for your replies... i def don't want to get into trouble for laundering or fraud or whatever.

cheque it is then !