Kids bank accounts

copier_guy

Just had a thought!!!

Oldest daughter and son have a RBS bank acount, eldest is starting to get some money in and out as she is starting college soon and the sons has a little bit of money in there.

When we go BR, its getting further away as its a £1000 but thats another story!!, will the kids accounts be OK?

We bank with the RBS to

Happy Easter!!!

Bluebelle72

copier_guy wrote: »

Just had a thought!!!

Oldest daughter and son have a RBS bank acount, eldest is starting to get some money in and out as she is starting college soon and the sons has a little bit of money in there.

When we go BR, its getting further away as its a £1000 but thats another story!!, will the kids accounts be OK?

We bank with the RBS to

Happy Easter!!!

MMMMM tricky one that, are you trustee for any of their accounts?

fiveyearplan

If your name is not on there account then the money will be just fine.

maxmycardagain

empty the accounts just in case.

its easier to do that than to try get the cash back when the bank seize it under some fine print..

fiveyearplan

Are you children's banks one of your creditors?
You certainly don't need to add their account details to your BR forms.

dreamcatcher73

I am trustee for two of my childrens accounts, I didn't mention them on my SOA and nothing has been said at all

Just don't mention them..

copier_guy

WOW,

Didnt expect a reply until tommorow!!

We are not trustees on the accounts, We dont owe the RBS anything, despite their best efforts!!!

We only have an old key account with them, DD's SD's and a Solo card, in fact im hoping i can keep this account to be honest.

blind-as-a-bat_2

It has happened once or twice that the bank in question, because the BR's name was on the account have closed them.

In one case they just shut the accounts and posted a cheque for the ballence to the BR, the other held the funds for the OR (yeh right:rolleyes:) the OR did instruct them to return it though.

To be fare it is a well known scam for a BR to 'hide ' Funds in a sibblings account, not that im saying you have done that, just others have.

Might be wise to contact your OR and get them to declare no intrest in it to be on the safe side

dreamcatcher73

Wise words Baat, I didn't think of the scam thing tbh, mind you if they investigated don't think they would have been too interested in the 82p that's in my daughters account!