Teen Checking forced closed by mother

[reiguy]

What is the name of your state (only U.S. law)? Texas
My daughter and I opened a teen checking account for her and her mother got pissed off and tried calling the bank to close it, after failing to get it closed she made my daughter call and close it. any thoughts?

 

[Antigone*]

What is the name of your state (only U.S. law)? Texas
My daughter and I opened a teen checking account for her and her mother got pissed off and tried calling the bank to close it, after failing to get it closed she made my daughter call and close it. any thoughts?

If your daughter closed the account, nothing illegal happened.

It is a bad idea to give a teenager access to a checking account.

 

[strongbus]

OP if you want your daughter to have a checking account and don't want the mother to be able to do anything about it reopen on with both your name and daughters name on it and make it so both of your have to sign papers to close it. This would stop your ex form being able to do anything besides maybe taking your daughters check/debt card form her.

The only question for you is do you want to risk having your ex drag you into court to force you to close it.

 

[Mass_Shyster]

It is a bad idea to give a teenager access to a checking account.

I think your statement is a little overbroad. 28% of teens are not minors. My 18 and 19 year old sons both have checking accounts. How to you propose they pay their bills?

OP could open an account in his name only but put daughter's name on the checks and list her as an authorized signer.

 

[Antigone*]

I think your statement is a little overbroad. 28% of teens are not minors. My 18 and 19 year old sons both have checking accounts. How to you propose they pay their bills?

OP could open an account in his name only but put daughter's name on the checks and list her as an authorized signer.

You are right Steve, I did make a broad statement. But I guess you have been asked to reverse several hundred of dollars in NFS fees over and over for client's kids who have checking accounts and can't manage their money.

My daughter had a checking account. As a banker I made sure that I educated her on the importance of personal financial responsiblity. Unfortunately this is not something that is taught well in school.

You know how you get a mental image of other members... I never imagined you old enough to have adult boys.

 

[reiguy]

its a TEEN account...only comes with a debit card. its attached to my account so i can deposit funds directly from mine. your opinion of its a bad idea is YOUR opinion. I personally like the idea and know its a smart move to teach kids how to handle money and make smart decisions with it.

 

[Antigone*]

its a TEEN account...only comes with a debit card. its attached to my account so i can deposit funds directly from mine. your opinion of its a bad idea is YOUR opinion. I personally like the idea and know its a smart move to teach kids how to handle money and make smart decisions with it.

You are right ~ I gave you my opinion. I also gave you an accurate legal answer. The child's mother did nothing wrong.

I also suggest that you don't put your daughter in the middle of your battle with your ex by doing this again.

 

[Mass_Shyster]

You know how you get a mental image of other members... I never imagined you old enough to have adult boys.

I'll be 50 when I take the bar exam in July.

 

[Silverplum]

You are right ~ I gave you my opinion. I also gave you an accurate legal answer. The child's mother did nothing wrong.

I also suggest that you don't put your daughter in the middle of your battle with your ex by doing this again.

The poster should know that your opinion is a considered one: of all the replies, yours is the one from the experienced banker's point of view...also, a Mom's.

 

[Antigone*]

I'll be 50 when I take the bar exam in July.

Very cool Steve. Hats off to you!! We will have to have an FA celebration for you when the time comes!!!

 

[Silverplum]

I'll be 50 when I take the bar exam in July.

THAT'S awesome!!

 

[Antigone*]

The poster should know that your opinion is a considered one: of all the replies, yours is the one from the experienced banker's point of view...also, a Mom's.

You know us bankers are the least trusted people in America next to lawyers, so I'm never surprised that people don't like my opinion. Yet, I'm one of the first to see them go financially bankrupt, which is truly a sad state of affairs.

 

[CSO286]

Very cool Steve. Hats off to you!! We will have to have an FA celebration for you when the time comes!!!

*like*

 

[RemitAdvice]

I agree on both counts:

1) fiscal responsibility is NOT taught in school. I also believe that budgeting, credit, terms and the ramifications of NOT being responsible with your funds are one of the MOST important lessons you learn in life.

2) I am an asset recovery specialist. I hear every excuse in the book (and new ones everyday!) from bankers, lawyers, tax professionals, teachers, doctors, business owners, et. al., on why they couldn't make payments, why they didn't think it would happen, etc. etc. and why I shouldn't be doing my job since they didn't do theirs. I'm always the bad guy and nobody ever believes me. I don't want that to be MY kids. So kudos to dude for not wanting it to be his either. My kids, 6 & 7, get an allowance each week for chores, good grades, homework assignments, etc. and do plan on working with them as far as their banking goes a.s.a.p.

3) My suggestion is that you discuss your reasoning behind the checking account with 'mom' and remind her that you have your daughter's best interest in mind and only want her to learn to be responsible with her funds so that YOU GUYS are not helping her file for BK or making her car payments for her or watching her charge up thousands on Dept Store CC's and watch her sink herself. Maybe ask 'mom' why she thinks kiddo shouldn't have the account. If she's the CP, then she may know info you do not.

 

[mistoffolees]

You know us bankers are the least trusted people in America next to lawyers, so I'm never surprised that people don't like my opinion. Yet, I'm one of the first to see them go financially bankrupt, which is truly a sad state of affairs.

Don't be so hard on yourself. Bankers are ahead of eleven other professions:
33. Lawyers
34. Bankers
35. Council workers
36. Tow truck drivers
37. CEOs
38. Celebrities
39. Sex workers
40. Journalists
41. Taxi drivers
42. Real estate agents
43. Car salesmen
44. Politicians
45. Tele-marketers

Australia's Most Trusted Professions 2011 | Read our 2011 list of Australia's Most Trusted Professions. Did your profession make the cut?