Opening a Family Saver but not a family?

hardleyouth

Hi,

I'm a single student, I have a bit of capital and I'm looking for the best possible investment for it. I have found a regular saver account which is offering a whopping 5%! (Norwich and Peterborough BS for anyone interested).

My question is, it is a family e-saver and it says that the requirements are you must be over 18 (I am) and have a child of under 16 or 18 in education. I don't see anyway of them knowing I don't have a kid so I can just go ahead and get that great interest rate.

Or am I wrong?

Thanks in advance,
Chris

grey_gym_sock

perhaps they're going to ask to see evidence that you're receiving child benefit for the fictitious child.

innovate

What will you do when they ask you for the birth certificate of your child? It seems rather foolish to try and deceive a bank.

Ken68

Hi... Norwich and Peterborough also have a 5% gold Regular Saver. You may have to open a Gold account for this but don;t have to transfer DD's.

TheSenSibleOne

Yeh... I still think that's fraud....

le_loup

Think it's fraud?
It certainly is!
If you are as young as "single student" implies, you have a lot to learn before you grow up.

Ken68

Fraud, yes but open for discussion, like children go for free or half price, who's paying???
Same with OAP's discount. Who is paying.
Or even students.
Like Tesco saying "these apples only for special groups"

Yorkie1

OP, it's fraud pure and simple. If you get caught you risk having a fraud marker put on a financial services database which could prevent you getting insurance, or a mortgage, or bank accounts in the future.

Are you really stupid enough to risk it for the sake of a few pounds? First Direct offers a higher interest rate on its regular saver without the potential consequences.

dzug1

hardleyouth wrote: »

I don't see anyway of them knowing I don't have a kid so I can just go ahead and get that great interest rate.

Chris

They are obliged under money laundering regulations to confirm the child's identity - so they WILL know, or find out.

Abatement

I cant stand this kind of discriminatory nonsense from banks. Shouldn't be able to get away with it in this day and age.

hardleyouth

le_loup wrote: »

Think it's fraud?
It certainly is!
If you are as young as "single student" implies, you have a lot to learn before you grow up.

I'm not asking to be patronised, only for an answer to my question.


Thank you to everyone who responded, seeing as some have said they will confirm the identity of the child, I'll steer clear.

However, to the person who mentioned deceiving banks. Oh how I'd love to deceive and exploit banks at any possible moment, I despise them and I think rightfully so.