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Subject Bank Penalized For Father Withdrawing from 7 y/o Child's Account~

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[quote:Anonymous Coward 77119396:MV80NzAyMDEwXzI5RkFDRDIz]
https://theworldnews.net/ie-news/ombudsman-ordered-bank-to-reimburse-money-to-child-s-account-after-father-withdrew-eur66-000

IRELAND 
[i]It outlined that [b]Daisy’s* parents opened a junior bank account on her behalf when she was three months old.[/b]

Between 2008 and 2014, child benefit payments for a number of children and some additional benefits were credited and ongoing debits were recorded in the account.

Her father was authorised to make withdrawals until Daisy reached seven years of age, after which time the child would become the signatory.

But after she turned seven, Daisy’s father continued to withdraw from the account until almost all the money was taken out.

[b]After Daisy’s seventh birthday, a large volume of debts totalling around €66,000 had been withdrawn by the father.[/b]

The child said she was unaware of the existence of this account and requested that the bank refund the money withdrawn.

She said no consent was ever given to her father allowing him to withdraw funds after she turned seven.

The bank had claimed that Daisy’s father said [b]the money was managed by him and was used for the benefit of the family,[/b] but the ombudsman said it was “entirely unclear as to how the bank formed this opinion”. [/i]

:wtf:
So, they are not penalizing the father, but the bank. In a global pandemic. Why penalize anyone?
[/quote]

Original Message [link to theworldnews.net (secure)]

IRELAND
It outlined that Daisy’s* parents opened a junior bank account on her behalf when she was three months old.

Between 2008 and 2014, child benefit payments for a number of children and some additional benefits were credited and ongoing debits were recorded in the account.

Her father was authorised to make withdrawals until Daisy reached seven years of age, after which time the child would become the signatory.

But after she turned seven, Daisy’s father continued to withdraw from the account until almost all the money was taken out.

After Daisy’s seventh birthday, a large volume of debts totalling around €66,000 had been withdrawn by the father.

The child said she was unaware of the existence of this account and requested that the bank refund the money withdrawn.

She said no consent was ever given to her father allowing him to withdraw funds after she turned seven.

The bank had claimed that Daisy’s father said the money was managed by him and was used for the benefit of the family, but the ombudsman said it was “entirely unclear as to how the bank formed this opinion”.

So, they are not penalizing the father, but the bank. In a global pandemic. Why penalize anyone?

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