any one know the rules on under 18s getting bank charges?

[shooter]

I have read a very interesting thread on MSE which got me thinking.

The thread is here;

http://forums.moneysavingexpert.com/...html?t=1115335


Anyone got any thoughts as to the legallity of these charges and the possible wording for a letter.

Shooter x

[Amethyst]

Re: any one know the rules on under 18s getting bank charges?

Was reading that thread earlier I think they covered a lot in the terms & conditions of the accounts which state you may not go over drawn etc and the banking code.

Picasso wrote this on YFYF (which is on hold in case anyone wondered - unlikely I know)

Think he means Consumer Credit Act - not sure which bit he's referring to tho its not something I have ever looked in to.

Bank Charges and under 18's
The bank has charged me and I was not 18 years old is it legal?

The answer is no. Under the Credit Consumer Act you are not allowed an overdraft if you are under 18 so if the charge has taken into minus figures, the bank has broken the law. There is something to this effect under the Banking Code as well.

There is a law http://www.gillhams.com/dictionary/444.cfm
this is the Minors' Contract Act (1987)

Another issue is the obtaining of a Switch/Maestro card under the age of 18, this will NOT be given because it has a cheque guarantee limit and that would be giving credit to a minor and therefore part of the Credit Consumer Act 197
__________________

[Emerald]

Re: any one know the rules on under 18s getting bank charges?

Where is it in the CCA that you cannot be offered credit under 18?
All I can find is this about documents offering credit, in the CCA.

50

.—(1) A person commits an offence who, with a view to financial gain, sends to a
minor any document inviting him to—
(a) borrow money, or

(b)

obtain goods on credit or hire, or
(c) obtain services on credit, or
(d) apply for information or advice on borrowing money-or otherwise
obtaining credit, or hiring goods.
(2) In proceedings under subsection (1) in respect of the sending of a document to a
minor, it is a defence for the person charged to prove that he did not know, and had
no reasonable cause to suspect, that he was a minor.
(3) Where a document is received by a minor at any school or other educational
establishment for minors, a person sending it to him at that establishment knowing
or suspecting it to be such an establishment shall be taken to have reasonable cause

to suspect that he is a minor

I thought you could not be held to a contract under 18, unless it was for certain items, and that is why credit is not extended until 18.

Which I suppose beggars the question why do so many 16 and 17 year olds get mobile phone contracts, if they can't be held o them until they are 18?

[TANZARELLI]

Re: any one know the rules on under 18s getting bank charges?

http://www.opsi.gov.uk/RevisedStatut..._19870013_en_1

Minors Contracts Act 1987 for info