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

 
pool
~the world needs change~

User ID: 77119396
United States
02/03/2021 08:19 AM

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Bank Penalized For Father Withdrawing from 7 y/o Child's Account~
[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After Daisy’s seventh birthday, a large volume of debts totalling around €66,000 had been withdrawn by the father.

The child said she was unaware of the existence of this account and requested that the bank refund the money withdrawn.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



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

Last Edited by pool on 02/03/2021 08:20 AM
They've lost their religion, they've lost their parents; their identity lay with the estate.
LittleMe

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02/03/2021 09:37 AM

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Re: Bank Penalized For Father Withdrawing from 7 y/o Child's Account~
How a 7 year-old could be in charge of a bank account... I think the father is behind this, making his daughter request the bank for a refund.
angel2

lilmewish
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User ID: 79202170
Sweden
02/03/2021 09:40 AM
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Re: Bank Penalized For Father Withdrawing from 7 y/o Child's Account~
How a 7 year-old could be in charge of a bank account... I think the father is behind this, making his daughter request the bank for a refund.
 Quoting: LittleMe


what don't you get that parents can open bank accounts to their newly born kids which then the children can cash out once they become adult, fulfill 18 years old

problem is how the bank allowed to the person/s that they could take/go into debts on the same accounts of people/children who are unable to do so for obvious reasons

the banks should always be penalized for such stuff, as they're allowing the manipulations FFS, they have the documents and see how old the bank account holder is





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