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  1. #1

    Question Can a parent/guardian withdrawal from a minor's bank account?

    What is the name of your state? Ohio

    I have a question about the legality of a parent withdrawing money from a minor's bank account. This concerns my half-brother so I'm not entirely sure about the specifics regarding the type of account. The minor is of working age and holds a job. The account was set up for the minor and the minor is paying into this account regularly. As far as I know this is a savings account, but could perhaps be some other type of account (I'll know more on that later). I do know that the minor does not have complete access to the account without parental consent. The question is in regards to the parent of the minor.

    I do know that the parent has taken money from the account without the knowledge or consent of the child. Without getting to specific, this money was used for the parents own personal reasons and were definitely not in the interest of the child. Again, I stress the money in this account is from the minor's job and was not originally provided by the parent. The parent in this case is also keeping the bank statements and has claimed to have paid the money back. We haven't yet been able to find out if that is the case, but we will be talking with the bank later today. The troubling thing is that the bank has so far said that the parent has the right to withdrawal money from the minor's account without permission or consent in anyway.

    Is this legal? If not, are there any circumstances where it would be legal (example - a trust fund or something similar). If it is illegal, is the bank responsible. Is this law or up the bank's own policy? If it is legal, will the parent be able to be held accountable for the money that has been taken? If not immediately, then when the minor obtains control of the account at the age of 18, can the parent then be held accountable for any money missing? If the parent does have the rights to this account, is there anyway to get the money out of the account into an account the minor can control? After all it is money he has earned.

    I will post again with the further specifics if they are required (i.e. details on the type of account and anything else I find out about it today). And most of all, thanks for any help and insight anyone can offer.

  2. #2
    Join Date
    Nov 2003
    South Carolina
    Since we are talking about a minor, I'm assuming at least one parent is on the account. If so, YES, that parent can take money out. The source of the money is irrelevant. Perhaps the minor would be better off not having a bank account?

  3. #3
    Join Date
    Jul 2002
    As he is a minor, he can not hold an account alone. It would be considered a contract as you have to agree to the banks terms. So the adult on the account can withdrawl, and so can any legal guardian that can show proof of such. I actually ran into this with a step child. We sat up accounts for our children and my step child. Their names and ours. Because the bio mother had proof she had custody and was legal guardian, she was allowed to withdrawl from it. There is no way to protect it as long as he is a minor.

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