We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Bank accounts closed for a 19 yo - apparently fraud

2»

Comments

  • Nasqueron
    Nasqueron Posts: 11,327 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    lr1277 said:
    I googled: Can I open a basic bank account with a CIFAS marker

    This result suggests a basic bank account is not automatic nor impossible:

    I have no idea as to the accuracy of the site to which  have linked.

    Other results suggest it is impossible i.e. can only get a savings account. If in this position you should do your own research.

    Edited to add: there was a tv show about this in about 2018. On it a policeman suggested this be reported as fraud with the account holder as the victim. I don't know how far somebody would get if they reported ths to their local police force.
    You can get a basic account with extremely limited functionality e.g. get wages in, pay bills with with a CIFAS

    It is fraud but it's also being an accomplice to theft/money laundering. OP son has been paid a fixed amount (maybe £50, £100?) to move money around to keep it from whoever it was stolen from. Ignorance is not a defence 

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.9K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.