lloyds joint account with parent

messi2504

I have a joint account with my mum opened when i was about 11 years old am now 21 can i take money out of there alone or does my mum need to be there with me does anyone know? There not much in there around the £200 bar but i just want to move it into my own account now and close the joint account as its not really necessary so was wanting to go in on Monday to get it sorted but wasn't sure if i need to go on my own or take me mum too.

rb10

It depends on how the account was set up when it was opened; she may or may not be required.

[Deleted User]

normally you can take out at 16+ no problems (e.g. with halifax)

rb10

vinh1000 wrote: »

normally you can take out at 16+ no problems (e.g. with halifax)

No, that's not the way it works with Halifax, if it's a trustee account.

When a parent (or anyone, for that matter) opens an account in trust for a child at Halifax, then the money can only be withdrawn from that account in two ways:
1) The parent makes a withdrawal
2) The bank sees the parent's death certificate

The child's age does not come into it at all.

MME_2

This is probably an account opened in trust of or on behalf of rather than a joint account. I would ring phonebank before going into the branch to find out exactly what is required. It's difficult to say without knowing what type of account it is (might be a firstsave account).

The LTSB young saver account now is automatically transferred to a savings account where you have sole control once you are 16 but I suspect this won't happen for the account that you opened 10 years ago.

jonesMUFCforever

If it is a first saver account then the account is still in the name of and under the control of the mother.
She will need to close the account if wants to and give the money to the son