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Santander Trustee Account error

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I have a trustee account for my son. He has mobile banking and in error Santander have allowed him unauthorised access and he has spent most of the money in there...over £1,000.
Do I have any redress ?

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  • dunstonh
    dunstonh Posts: 116,707 Forumite
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    Do I have any redress ?

    Yes.

    You go to the police to report the fraud by your son. Let Santander know the crime reference number and they will work with the police directly.

    Santander will likely refund the money to the trust whilst they push for prosecution and recovery from your son.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • xylophone
    xylophone Posts: 44,648 Forumite
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    I have a trustee account for my son.

    What kind of Trustee account? How old is your son?

    Are you the only "signatory" on the account? It is not in any way a "joint" account?

    If it is not a joint account, why is it showing in your son's on line banking?

    Have Santander acknowledged an error on the part of the bank? If so, how do they say it arose?
  • christinencl
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    It wasn't fraud by my son. Santander added the account in error to his online banking which yesterday when I went into a branch they acknowledged and apologised saying it was a glitch in system that trustee accounts were added to the young persons mobile banking. I certainly would not be involving the police. My son had innocently thought that as he was 18 and the bank had givien him access that it was his to use. I complained in branch and was told I would be contacted but haven't heard anything as yet.
  • xylophone
    xylophone Posts: 44,648 Forumite
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    Was the account a mini 123 or some other type of account?

    Was the account held in bare trust for your son?

    Did your son have prior knowledge of this account?
  • chesky
    chesky Posts: 1,341 Forumite
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    Is your son over 18? He has mobile banking?
  • colsten
    colsten Posts: 17,597 Forumite
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    My son had innocently thought that as he was 18 and the bank had givien him access that it was his to use.
    If it wasn't his money, he should pay it back. He should also learn that just because money shows in your online banking it isn't necessarily yours.
  • dunstonh
    dunstonh Posts: 116,707 Forumite
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    edited 22 July 2016 at 3:45PM
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    It wasn't fraud by my son.

    Yet you say your son took the money. What would you call taking money that does not belong to you?
    I certainly would not be involving the police. My son had innocently thought that as he was 18 and the bank had givien him access that it was his to use.

    At 18, he is an adult and has legal responsibility for his actions. Errors do not entitle you to keep the money. He spent money he was not entitled to spend. He had no reasonable expectation of that money (which is the only area where you are allowed to keep money that is not yours). He would be expected to repay that money.

    Obviously turning 18 and being classed legally as an adult and actually being an adult mentally are often two different things. However, in terms of law, he did wrong. Santander did wrong too but they will want the money back. You may want to remind your son of his responsibilities and common sense. Did he not think it strange that he suddenly have access to over £1000. Did he not think about mentioning it to you or thanking you for putting it aside for him/looking after it for him?

    The usual outcome in errors in things like this is that the person that took the money has to repay it. If they have spent some of the money then and the error was also with the bank (which it is) then a repayment period is usually agreed. Typically a period that was similar to the error occurring and being identified or 12 months.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • teddysmum
    teddysmum Posts: 9,477 Forumite
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    Someone of 18 (ie an adult) unless mentally challenged does not innocently take what is not theirs.
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