WARNING: Bank stole child's money

dzug1

It does depend on whether it was actually set up as a proper trustee account or in the parental name with a note of the children

And no they didn't STEAL the money - they either took it in error (trustee account) or justifiably (parental account). Neither is stealing.

squibbs25

Lokolo wrote: »

Although I agree with that, the OPs sister had an agreement that the children wouldn't get the money until 18. quote]

Where did i state this?

I have no idea when the money is to be released to the children nor how.

Please don't assume things, just go by the facts as they are.


Thank you all for your comments, it's interesting to see the difference of opinions.

I still believe the bank WAS WRONG to take the money as it was from a childs account.

Lokolo

squibbs25 wrote: »

Where did i state this?

I have no idea when the money is to be released to the children nor how.

Please don't assume things, just go by the facts as they are.

I misread... I am goin crazy...

crispy_chris

I know its already been said in the thread but just to confirm, we (Fraud Department) cannot use a trustee account to offset any debt that a customer has with us.
Simply put - the money in that account does not belong to the customer. The bank were totally in the wrong to do so and probably just did so in error.

squibbs25

Thanks again for all your comments, especially crispy-chris for tie-ing it all up.

I know the money was put back, i just posted really to warn others who may be in a similar position to my sister, just to keep an eye on their kids money.

Squibbs

simon_templar_2

Can the OP change the thread title to something less dramatic and more accurate?

squibbs25

simon_templar wrote: »

Can the OP change the thread title to something less dramatic and more accurate?

Why?

Defination of steal/stealing/stole: to take (something) from someone without permission or unlawfully

Is this not what happened?
Was permission granted for the bank to help themselves to my nephews money? NO IT WAS NOT
If they were so right, then how comes they put it back? :rotfl:

Sorry if the title offends but it happens to be the truth.

Squibbs

Rustvaar

I have to agree with OP - While it make be dramatic it is correct;
Definitions of steal on the Web:
take without the owner's consent;

S'what happened!

krisskross

I think the issue will probably be whether the money in the account can be accessed by the adult. If it is in trust then no one should be able to touch it until the trust conditions are met. Such as the person reaches 18 or whetver the conditions are. If it is a more usual child account with the parent named then yes the mony can be accessed. My daughter in law draws out the cash we put in our grandsons account to buy things for him or Jimmy Choos for herself.:-) We don't ask what the money is spent on

It is a known fact that you shouldn't have other accounts with a bank you owe money to as they can and do take from one to pay the other.

krisskross

Rustvaar wrote: »

I have to agree with OP - While it make be dramatic it is correct;
Definitions of steal on the Web:
take without the owner's consent;

S'what happened!

Is it then also stealing if people use the banks money without asking first?