MMD: Can I keep grandma's cashback?

smashandgrab

A made up question. Who would ask this?

Nuncle

I don't understand why most people in this thread seem so against the question. Fictitious or not, in this situation the asker is not robbing her grandmother. Grandma is not able or willing to generate interest and cashback on her own finances. Granddaughter is. If she does this and keeps the interest and cashback, Grandma is no worse off, and still benefits from Granddaughter being there to help with any admin or whatever. I think it would be pretty cold to just keep it all and not tell Grandma. I think you share it out. And I think a shared bank account would be more appropriate for this arrangement.

Big_Ot

Ask your Grandmother what she thinks.

Pollycat

Nuncle wrote: »

I don't understand why most people in this thread seem so against the question. Fictitious or not, in this situation the asker is not robbing her grandmother. Grandma is not able or willing to generate interest and cashback on her own finances. Granddaughter is. If she does this and keeps the interest and cashback, Grandma is no worse off, and still benefits from Granddaughter being there to help with any admin or whatever. I think it would be pretty cold to just keep it all and not tell Grandma. I think you share it out. And I think a shared bank account would be more appropriate for this arrangement.

So why isn't the originator of this MMD telling Grandma about this extra cash that is being generated?
Instead of asking a bunch of random strangers if it's OK to keep the money?
Could it possibly be that the Grandma might just feel she's being taken advantage of...? :whistle:

fairy_lights

Nuncle wrote: »

Grandma is not able or willing to generate interest and cashback on her own finances. Granddaughter is. If she does this and keeps the interest and cashback, Grandma is no worse off, and still benefits from Granddaughter being there to help with any admin or whatever. I think it would be pretty cold to just keep it all and not tell Grandma. I think you share it out. And I think a shared bank account would be more appropriate for this arrangement.

Seriously?! It's still the Grandmas money, why on earth would granddaughter be entitled to it?
Unless her only motivation for helping her out is her own financial gain.

bryfi

If there were a Lasting Power of Attorney in place, the cash back and interest would be Grandma's. Opening an account that gives cash back and/or interest, is just acting in the best interests of the power's donor. For the attorney to take it, would be theft. Although there is no lpa in place here, (there certainly should be in this case), I think a similar principle applies. That the question is even asked indicates the questioner has mislaid his or her moral compass.

lexiLD

Check the definition of Fraud by Abuse of Position under the Fraud Act 2006 and see if you can figure it out...This isn’t a moral dilemma, it is an illegal act (profiting off someone’s money whilst in a position of trust and not telling them about it - akin to keeping the interest of an account. As a family member taking care of someone else’s finances you are in a position of trust, for clarification).

Safest bet is to try to explain cash back to Grandma. Most Grandmas would then usually offer to give you it or at least share it. However take the account out of your name.... you’re leaving yourself open to all kinds of trouble.

Out,_Vile_Jelly

Smodlet wrote: »

Ah, this takes me back to youth, when saddoes working for Jackie, Oh Boy! and similar toilet paper publications would sit around dreaming up "problems" so they could write "answers" to them. Could do better, MSE.

It least in teen magazines the questions were mildly entertaining:

Dear Jackie, I really like a boy in my year, and he once looked at me in Chemistry which surely means he likes me too, only as of yesterday he's come to school dressed as Boy George, what should I do?

ALANFARMER

ONLY if you tell her and she AGREES!

tallgirld

You sound desperate and broke! Why on earth would you want to keep it if it's not even your money.


What a strange question.....