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Money Moral Dilemma: Should I keep the perks from my grandma's bank account?

MSE_Kelvin
MSE_Kelvin Posts: 375 MSE Staff
Seventh Anniversary 10 Posts Photogenic Name Dropper
edited 20 August 2024 pm31 3:53PM in Budgeting & bank accounts
This week's MoneySaver who wants advice asks...

My grandma doesn't have a bank account and keeps all her money in cash. Now I've started helping her with her finances, I've set up a bank account in my name and pay her bills from it - she gives me the cash - and I get cashback on the bills and interest on the balance. Each month I transfer money into the account to meet the minimum monthly pay-in, then when I transfer my money back, I also take the interest and cashback too. Is this fair, or should this money go to my grandma? I'm not really sure.

Unfortunately the MSE team can't answer Money Moral Dilemma questions as contributions are emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. Remember that behind each dilemma there is a real person so, as the forum rules say, please keep it kind and keep it clean.

B) If you haven’t already, join the forum to reply.
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Comments

  • oldagetraveller1
    oldagetraveller1 Posts: 1,410 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 20 August 2024 pm31 4:37PM
    I agree with Slinky.
    Ask Grandma what you should do after telling her there are monetary benefits with the account.
    If you are lucky she will tell you to keep the benefits as a bonus for doing this for her.
    Bear in mind it's Grandma's money.


  • HillStreetBlues
    HillStreetBlues Posts: 5,079 Forumite
    1,000 Posts Second Anniversary Homepage Hero Photogenic
    edited 20 August 2024 pm31 4:52PM
    In the real world away from an MSE "Moral Dilemma" sounds like you could be complicit in money laundering.  
    Let's Be Careful Out There
  • Q11
    Q11 Posts: 8 Forumite
    Second Anniversary Photogenic First Post
    If you’re happy to steal your grans interest and cashback then go for it! 
  • I think you should come clean with granny.
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