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Foolish teenager - should bank have done more?

Parent_of_teenagers · 2024-01-29 17:17:50

My son is 18 and one month old - and over the past couple of weeks has tried out a stocks&shares trading app. He seemed to be doing quite well with the fake money the app let him have as a trial - and so decided to put real money into the app. He transferred almost all the money from his current account (HSBC) via its app.…

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enthusiasticsaver Posts: 16,062 Ambassador

31 January 2024 at 10:39PM

No I don't think the bank are liable for this. Have you spoken to him about gambling or directed him to Gamble Aware as it sounds like this is what he was doing. A lesson learned (albeit an expensive one) that you should never invest in something you do not understand and that investing carries risks so he needs to learn how to mitigate these before investing again.

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