With a CiFas could my sons wages be paid into my account??

Mhutch

Hi everyone

A very worried dad here

My son is 20 and his ‘friend’ gave his account details to someone a few months back and his account was shutdown Approx 9 months ago

He also had another account - natwest that continued to operate until last Friday when that was shutdown after I encouraged him to apply for an help to buy isa before the deadline, and it seems to have triggered a marker, but not much info given by the bank so applied for the DSAR from CiFas, hope to get full details next week

I feel awful for pushing him to open the isa but as a father that’s what you do...

Anyway my concern now is (until he gets full details back from CiFas)
How will his employer pay him?
Could it go into my account, but I don’t Want my account affected that would be catastrophic as the household main source of income and provider

My other worry is future job projects for my son and any employer screening checks that pick it up and ultimately retract job offers


So stressed!!! 😔☹️😢

fwor

He probably doesn't have much to lose from going to speak to someone at his "home" Natwest branch to see if they are willing to open the most basic of accounts with them.

My guess is that his "friend" persuaded him to have a go at money muling, and the banks seem to have decided that they are really going to crack down on this.

But if it was just an isolated incident and he has operated his account with them (as opposed to the other bank which you don't name) correctly, they may be willing to open a basic account with no credit/overdraft facilities. That would probably be a better solution than trying to use your account, as it will start him back on track to rehabilitation in the eyes of the banks.

There's no point in worrying about any possible impact on future employers, as what's done is done and he can't go back.

colsten

If your son has a CIFAS fraud marker, he won't get an account in his name for some years. If he doesn't, he should be able to get at least a basic account elsewhere. Another option might be one of the costly pre-paid card accounts. I think a CashPlus account might fit the bill. Though there is a residual risk that they'll eventually find the CIFAS marker and close the account.

If he is stuck, there's no reason I can see why his wages could not be paid into your account. He simply needs to give his employer your sort code and account number. You won't get linked to his Credit File and CIFAS, but you obviously have to sort out how he gets his cash. If you have to go down this road, it might be worth your while to set up a new account in your name, so everything is separate from your money. However, if he messes up that account, you'd also be implicated directly. So bottom line, the safer option is to try and get him his own account again, a pre-paid card one if necessary.

Good luck sorting it all out!

18cc

I would agree with Colsten - there should be no problem giving his employer your sort code and account number to receive wages.

Do not give your son any access to your account - you might find your accounts being closed down one day. What you can do is 1. withdraw cash and give it to him 2. transfer some from your account to a savings account eg the post office instant saver - your son can then get cash out himself using the supplied card.

Not sure if the saver should be opened in his name or your name - others on here might have some advice. Obviously if he intends to get the money out over the counter it has to be in his name. If he just plans to use the card at an ATM then it can be in either I suppose.

18cc

PS - IMPORTANT - do NOT allow any payments into your account (other than the salary) as you do not know the status of the sending account - that may also be under suspicion and the fastest way to get your account suspended is to allow a payment in from a suspect account.

phillw

18cc wrote: »

PS - IMPORTANT - do NOT allow any payments into your account (other than the salary) as you do not know the status of the sending account

What mechanism is there to prevent that?

surreysaver

phillw wrote: »

What mechanism is there to prevent that?

Probably none, save for not giving out the account number

colsten

surreysaver wrote: »

Probably none, save for not giving out the account number

Yeah, that's why an account in the son's name is preferable.

Let's wait to hear what the CIFAS record says.

phillw

surreysaver wrote: »

Probably none, save for not giving out the account number

Writing to the employer and asking for the money to be paid into your account and under no circumstances to give the details to the son, would be interesting. Assuming he hasn't already got the details.

18cc

Yes you are all right in that of course the implementation is difficult !

i guess what I meant was for the father to tell his son that although he is allowing his son's wages to be paid into the account that this was not a general permission for him to use the account and that under no circumstances is the son to allow any other money to be paid in from anywhere else

Mhutch

Thanks again all

I totally understand what you are saying
The wage into my account would be it and no other payments at all


Long term thou and depending on the outcome of the CiFas what account could he open maybe a Monzo? Or Pockit?
Simply for his salary to be paid into