transfering money from one account to the other ?

[katie11]

does anyone know if a bank can take money out of a joint account owned by a child and parent to the parents account to pay off overdraft?

[thephoenix]

Re: transfering money from one account to the other ?

Yes I believe they can. They can use money from just about any account with your name on it to off set any other debt you have with them :devil:

[katie11]

Re: transfering money from one account to the other ?

oh poo not what i wanted to hear.they have took all my partners money now he has nothing all month.

[thephoenix]

Re: transfering money from one account to the other ?

was it your partners wages? and can i ask, why does your partner have money in a childs account ( you don't have to answer if you don't want to)

[Amy]

Re: transfering money from one account to the other ?

The account would be in the child's name but would require a signature by a parent or guardian to withdraw funds.

The account would, however, not be in the same name as the Parent's so I cannot see how they could use such an account to offset any debt the Parent may have.

[katie11]

Re: transfering money from one account to the other ?

because his account is in dispute as he is overdrawn and he needs money to live .

[thephoenix]

Re: transfering money from one account to the other ?

they did it to our eldests account, I wasn't happy, they said ' it's in your T&C's :devil::devil::devil::devil::devil::devil::shush:: shush::shush::shush::shush::shush::shush:

[Amy]

Re: transfering money from one account to the other ?

they did it to our eldests account, I wasn't happy, they said ' it's in your T&C's :devil::devil::devil::devil::devil::devil::shush:: shush::shush::shush::shush::shush::shush:

What was in the T&C's?

[thephoenix]

Re: transfering money from one account to the other ?

because his account is in dispute as he is overdrawn and he needs money to live .

oh i see. He could open an account elsewhere, where no debt is owed.
You can get a basic account from most bank with no credit checks as a temporary measure

[thephoenix]

Re: transfering money from one account to the other ?

What was in the T&C's?

that we give them permission to off set any debt owed to them from any other account in the debtors name.

or words to that effect.

[katie11]

Re: transfering money from one account to the other ?

did you persue them? was it the same you had money in eldest account and they took it ?

[Amy]

Re: transfering money from one account to the other ?

But it wouldn't be in your name, it would be in the name of your child.

[Amy]

Re: transfering money from one account to the other ?

Would anyone like to come into chat?

We'll be here all night otherwise.

[katie11]

Re: transfering money from one account to the other ?

partner has opened new account but waiting for it to come through. it was his first wages

[thephoenix]

Re: transfering money from one account to the other ?

As an example, this is from HSBC T&C's from their current account:

6. Miscellaneous
6.1 If any accounts you hold with us are in credit, we may use any
of them to reduce or repay any amounts you owe on other
accounts you hold with us anywhere in the same name
(including any card accounts and any joint accounts) whether
or not those accounts are in the same currency.
If we decide to do so:
• we will tell you why and when it has been done; and
• in doing so, we may (and you irrevocably authorise
us to):
- bring to an end any fixed deposit period applying to any of
the accounts you hold with us and adjust any interest
payable by the Bank;
- convert to sterling at the prevailing market rate of
exchange any balance that is in a currency other than
sterling;
and in doing so we will have no liability to you.
Nothing in this clause will prevent us from exercising at any
time any other right of set-off or of combination of accounts
to reduce or repay any amounts you owe us.



They think they hold all the cards yet again