Child's Bank Account Overdrawn

custardpi

A 15 year old relative has had a Santander account for about 3 years. Somehow it has gone overdrawn (by under £10, but still). (Somehow obviously being they either withdrew or otherwise spent the money, but the account should not have allowed this).

Can their parents just close the account without repaying anything?

InsideInsurance

No you cannot just close the account, the debt is owed its just not enforcable. They can pay it off or leave it to exist in perpetuity

Surely this is an opportunity to teach about money management and responsibility rather than weaseling your way out of things?

colsten

You / the parents should be deeply ashamed at the sheer thought of closing the account to make an entire tenner!

Instead, this unfortunate situation should be seen as a unique opportunity to grab by the horns and teach the kid what can happen if you do not properly manage your money. And how to settle the debt a bit pronto.

xylophone

Give the child the cash to settle the O/D immediately and deduct it from his pocket money.

Teach him how to manage his account so that he doesn't go overdrawn.

jonesMUFCforever

We need to know HOW the account became overdrawn before giving advice.

Mrtight

Teach him a lesson, and send him a letter telling him he's overdrawn with out a permitted overdraft and charge him £20 for admin cost.. So now he's £30 overdrawn. Life's hard

le_loup

Malcnascar wrote: »

A bit too judgemental here folks. I totally agree with #6

Not at all. The OP asked a very clear question:


Can their parents just close the account without repaying anything?


If answering no to that question is judgemental, you have a very low threshold of morality.

paragon909

What's the big deal here. Call the bank ask how the account got overdrawn, Maybe the account holder has some sort of subscription that doesn't require funds available.

I suggest you cancel the card and pay the £10. Lucky the account holder is under 18 or fee's would start getting applied. If its unauthorised then claim it back simple.

InsideInsurance

paragon909 wrote: »

Lucky the account holder is under 18 or fee's would start getting applied. If its unauthorised then claim it back simple.

Legally nothing to stop fees being added to it even if they are under 18 assuming its in the terms of the contract its just that they would be equally unenforcable so a little pointless.

Mr_Goodkat

jonesMUFCforever wrote: »

We need to know HOW the account became overdrawn before giving advice.

OP stated by under £10!

Mr_Goodkat

As others have posted good opportunity to teach the 15 year old about money management, with parents considering closing the account to save less than a tenner they are going to need to get their money management lessons from elsewhere!