Savings Account Problem/Concern

[computerwhizz]

What is the name of your state? Pennsylvania

Hi, I'm 16 years old, and I have a savings account like most people at my age due. On my bank statement it says my mom's name and under it, it says guardian for...and then my name is shown. Why I am writing to you is, because recently I deposited money into a paypal account electronically without my parents permission (I didn't believe I needed it because it's my money). My original plan was to pay for my own cellphone bill, put all the money I have in the house into the bank, and start putting the money I get from my job into my bank account. I figured I am allowed to take money in and out as I please because after all it is my money. Well my mom just found out I took $135.00 and deposited it in my paypal account, and she flipped her lid. She expects it back in my bank account over night, and if you're familiar with paypal you'd know that's literally impossible. Anyway, my question is, is there some technicality out there, that says I can do what I want with my money? I don't trust her having control over it like that. Because if she has that much power of it like she says she does, she can steal my money, and I know that's not allowed. Most of the checks and things have been signed to me and not her. So anyway, is there a way where I can get her off my back since I spent the money in my paypal account on various online things? I hope there is, any help would be appreciated, thanks!

- Nick

[Veronica1228]

Originally Posted by computerwhizz

What is the name of your state? Pennsylvania

Hi, I'm 16 years old, and I have a savings account like most people at my age due. On my bank statement it says my mom's name and under it, it says guardian for...and then my name is shown. Why I am writing to you is, because recently I deposited money into a paypal account electronically without my parents permission (I didn't believe I needed it because it's my money). My original plan was to pay for my own cellphone bill, put all the money I have in the house into the bank, and start putting the money I get from my job into my bank account. I figured I am allowed to take money in and out as I please because after all it is my money. Well my mom just found out I took $135.00 and deposited it in my paypal account, and she flipped her lid. She expects it back in my bank account over night, and if you're familiar with paypal you'd know that's literally impossible. Anyway, my question is, is there some technicality out there, that says I can do what I want with my money? I don't trust her having control over it like that. Because if she has that much power of it like she says she does, she can steal my money, and I know that's not allowed. Most of the checks and things have been signed to me and not her. So anyway, is there a way where I can get her off my back since I spent the money in my paypal account on various online things? I hope there is, any help would be appreciated, thanks!

- Nick

Nick, I'm sorry but there is no technicality such as what you are looking for. Because you are a minor the bank is unable to hold you legally liable for any misuse of your account. Therefore, you must have a guardian who is. Usually it is only the guardian that can make withdrawals, or close the account. It is not unusual that you can still make deposits. If I wanted to, and I had the account number, I could make a deposit to your account. Unfortunately, if your mother wanted to take your money, legally she can. She is the one in charge of your account.

I know this is not what you wanted to hear, but it is the truth. Try to look on the bright side. In two short years you will be able to control your own bank account. Until then, try to stick it out.

[kyle_kyle_p]

I know exactly how you feel Nick. I went through the same thing. Even though you may have a job and makeing your own cash and all that good stuff the fact is that you're not legally an "adult" yet, so that's why they have your parent's on the account. My advice, just use cash for everything. If you want to get something off ebay, take your cash and get a moneyorder. It may take a little longer but it'll save some hassle from you not having to get yelled at everytime.

and yup, just 2 short years and you can have her tak'n off the acount or open your own.

[dallas702]

I congratulate you for being willing to work and save money....but spending it on a cellphone is a waste of the effort. That's why 16 year olds aren't allowed to execute contracts. The bank has no legal duty to you except to protect your money through your ADULT guardian.

Now....a more serious issue. You must have lied to Ebay/Paypal about your age to get the account. You must have lied to the cellphone provider to get that account. You admitted lying to your mother. That's a pretty poor way to journey into adulthood. You could be criminally liable for defrauding those service providers. At the very least, they would ban you from their services if they know you are a minor. Contrary to what your friends or some TV show has told you, you don't have a "right" to these services.

As far as your mom "stealing" your money...are you paying for rent, food, medical and dental care, transportation, school, clothing, utilities, insurance, etc.? Maybe your mom is just protecting you from yourself by trying to keep somemoney in that account for your future needs. Maybe she needs some of that for all the expenses involved in raising and providing for you.

Maybe you should stop looking to circumvent your mom and sit down with her and talk about your needs vs the family needs. That cellphone bill could pay for a semester of college tuition.

[Veronica1228]

Originally Posted by dallas702

I congratulate you for being willing to work and save money....but spending it on a cellphone is a waste of the effort. That's why 16 year olds aren't allowed to execute contracts. The bank has no legal duty to you except to protect your money through your ADULT guardian.

Now....a more serious issue. You must have lied to Ebay/Paypal about your age to get the account. You must have lied to the cellphone provider to get that account. You admitted lying to your mother. That's a pretty poor way to journey into adulthood. You could be criminally liable for defrauding those service providers. At the very least, they would ban you from their services if they know you are a minor. Contrary to what your friends or some TV show has told you, you don't have a "right" to these services.

As far as your mom "stealing" your money...are you paying for rent, food, medical and dental care, transportation, school, clothing, utilities, insurance, etc.? Maybe your mom is just protecting you from yourself by trying to keep somemoney in that account for your future needs. Maybe she needs some of that for all the expenses involved in raising and providing for you.

Maybe you should stop looking to circumvent your mom and sit down with her and talk about your needs vs the family needs. That cellphone bill could pay for a semester of college tuition.

As my good friend Enasni would say, OY!!! Why are you digging up dead threads? The OP got his answer almost 2 weeks ago and has not been back since, so he probably will never see your little diatribe on family values. What is the point of this?