can someone open a bank account for a child without parental concent?

brians_daughter

mikey72 wrote: »

It should still affect your MIL's pension credit (if she's old enough), and other benefits etc, as she will be trustee still.
You could probably deny all knowledge as well, as no mail should be addressed to you personally.

Thanks for this. Yes, she is a pensioner. I doubt she knows this, will pass info on.
TBH i wish I had just said nothing to the advisor, but I didnt want to end up in hot water for not mentioning it.

tandraig

right - so in effect he confirmed what we have all said - if gran opens and administers the account - with you having NO access then you can safely discount it from your applications for funding. presumably, though you have been told verbally how much will be going in - you will have no idea of actual amount? then you dont mention it - its nothing to do with you!

brians_daughter

tandraig wrote: »

right - so in effect he confirmed what we have all said QUOTE]

No,
"He went on to say this would have bearing on my grant and housing help."

As you say tho, if i dont know whats going in or where the account is held i cannot declare it. I just didnt want to end up being done for fraud or something for not suplying correct info

DVardysShadow

brians_daughter wrote: »

I simply answered his question. I responded by saying my MIL had intention of setting up an account for my son with £20,000 deposit. He went on to say this would have bearing on my grant and housing help.

Hence my worry now. I assume if someone is being paid to do a job (ie student advisor) that the info they give is correct. He advised she kept the money seperate from my son til next year when i graduate then there can be no come backs/complications.

As tandraig says basically. But just because an advisor says it - particularly on an issue like this, you don't necessarily take it at face value. You should ask him what is the source for his info, then read up for yourself.

AFAICS, the rule is to stop parents from squirreling away their own savings into an account in the name of the children - and still retaining control in order to get finance. If you can find out the actual rule, then it will be possible to do further research to establish how MIL can pass the money on without causing a problem, if she won't just sit on it.

brians_daughter

Thanks, thats great. Thanks for the help!

tandraig

brians_daughter wrote: »

I didn't go and ask, it would never have crossed my mind TBH. I was asked by the uni rep who was assisting me in filling out my student finance forms for 10/11 and he was also doing an 'entitled to' check. He asked about any savings any for me or my children has that amounted to over £3,000.

I simply answered his question. I responded by saying my MIL had intention of setting up an account for my son with £20,000 deposit. He went on to say this would have bearing on my grant and housing help.

Hence my worry now. I assume if someone is being paid to do a job (ie student advisor) that the info they give is correct. He advised she kept the money seperate from my son til next year when i graduate then there can be no come backs/complications.

Sorry for the confusion BriansDaughter - this is the bit I meant! if the money is not accessible by you or your son until he comes of age - then really it cannot be counted can it?

paddy's_mum

But surely the whole point of the opening post is that grandma is obstinately refusing to do anything except put the money in the sole name of the child .. which is what is leading to all the knock-on problems. As I read it, grandma might be the person providing the cash and holding the actual pass book or documents, but the money will be very firmly the property of Morris Minor alone.

If grandma is adamant that her will shall prevail, and opens the account without the consent of the minor child's mother, and as a result questions are asked by officialdom, how is the OP to protect her own status and financial welfare?

I stand by my feeling that grandma is being stubborn for reasons of her own since it surely is not beyond her wit to appreciate why the 14 month delay would be a sensible and advantageous thing to do. There is no reason that I can conceive why the suggested joint account can't be set up now and after the daughter-in-law's graduation, change the account into Morris Minor's sole name.

I suspect grandma believes that wielding money equals wielding power since it is not reasonable to so airily dismiss the views of the one person who stands to lose a lot but gain nothing from the gift. Catch 22, anyone?

tandraig

yes paddysmum - but i dont think this is the main concern here! I think briansdaughter is concerned about the fact that the sons 'savings' will affect any benefit or funding she applies for. perhaps briansdaughter will have to correct me here!
as far as I know, anyone can open an account for a minor if they have the birth certificate - these are public records and anyone can obtain one. they can then open an account - without a parents knowledge or permission - BUT, the parents wouldnt have access to the account and usually the minor doesnt either.
btw did you know that anyone with access to your account number and bank sort code can deposit money in your account? how do you think your pay works? they cannot take money out - but they can put it in!
I dont want to comment on grandmas reasons - have seen some of briansdaughters posts in past and think this person may have featured before.

*Louise*

I honestly can't see how money that is not yours and you have no access to can affect your funding.

Fair enough if you were the trustee, but I think if you were to explain it properly to someone who knew more about the funding they might understand.

You say she wants to be able to have access to it, so I assume she will be the nominated trustee.

I would be more concerned about the fact she won't listen to your concerns about the matter.......and I would be inclined to ask why.

Susan_Frost

Sor;ry if I have missed the information somewhere.

She is your MIL, so what does your husband have to say about it all?

Do you and MIL get on well, or is she trying to undermine your studies.

It seems that, at the moment, you can genuinely answer NO on the forms you have to fill in, which is a start.

If she is doing this to cause you heartache, I dont know your feelings about each other, maybe dont get into a discussion and she may not actually get on with the job. 14 months is not that long, she has not got the money yet (I dont think) So maybe she will not be too pro-active with it all if the subject is dropped, or you dont let her know your concerns. She does seem to have some odd agendas around all this. But only you really know.