Can Banks find other accounts

Grandad12345

Dear MSE forum

When my Granddaughter was born I started a small savings account for her with Nationwide. Simple Passbook in her name that I held.

She is now 18 and is in serious debt. Apparently Barclays (probably her credit card) instructed her to move the money, over £700 to them to credit against her account which was in debt. This she did, not once but three times. The account is now empty

At All times the passbook has been with me, I have never told her the account number and I don't think she even new it was with Nationwide.

My question is "How on earth did this happen" I only found out when I had the book made up at the Nationwide Branch

Can a bank search against a name to find matching account?

Any help from a banking geek would be most welcome

Sad Grandad

antrobus

Grandad12345 wrote: »

....My question is "How on earth did this happen" I only found out when I had the book made up at the Nationwide Branch

Can a bank search against a name to find matching account?...

As far as I'm aware, no.

I would guess that, in the circumstances, grand-daughter approached Nationwide and went though the 'lost passbook' routine to gain access to the money.

happy_bunny_2

Only linked banks would be able to search for other accounts and then they can just take the money. Called offset.

No idea if not linked, as savings accounts don't show up on credit files.

Grandad12345

Having contacted Nationwide through their secure messaging it seems that outside banks cannot trawl for other accounts which is good to know. In the end we found that she has another Nationwide account to which she has internet access and so of course all accounts will show up including the pass book one.

Moral of story, once upon a time pass books were secure, now they are not so if you want to be sure of how your G/childs etc savings are looked after use something like National Savings and have them in proper trust accounts.

Sad but there you are

Bernie