these accounts are meant to be for young people up to the age of 17. They are meant to offer young people protection, by not allowing any direct debits or standing orders to be applied to this type of account. However, in practice this is rubbish as we've discovered that both my DH's children have had direct debits go through on their Revolve accounts. Having spoken to the branch manager, it is clear that there is nothing in their system that flags this up and prevents direct debits being paid and they can offer no guarantee that this wont happen again and again. I've written a formal complaint. But the purpose of this note is to warn other parents against RBS as your children are not protected in any way.
I hate RBS anyway. Having worked for them I can honestly say I would never ever bank with them or one of their subsideries. Although hubby banks with one of their subsideries and he thinks they are great! Lucky I deal with the money!!!
I've just had a look at the conditions on the Revlove account as I wasn't aware of a/cs for children of that age and I see that it specifically says no standings orders or DD can be paid from the account.
If RBS have allowed this I would be really cross and I think you're doing exactly the right by complaining, I'd be tempted to take further (Watchdog or similar).
Did the children involved know that they shouldn't be signing up for DDs?
hi yes the children involved know they are not allowed to. Unfortunately what happened is they were forced by their mother (I am their stepmother) to hand over their bank details to their mobile phone providers as she doesnt want to pay their bills any more (she took out the contracts obviously, and she is responsible). Knowing they had Revolve accounts which wouldnt allow direct debits to go through we were not concerned, assuming these debits would be automatically rejected, but later found out that payments had been going through.
hi and thanks. Yes, really cross, as you can imagine! That's what we're thinking and I would do that straightaway but DH not so keen to rock the boat even further (as you can imagine she is spitting blood that the bill she thought was being paid by DSS is now back in her court). So we'll see. In any case there's nothing stopping it happening again and this is my concern but we'll keep an eye on the bank statement of the DSS who lives with us (as will he, no doubt!). As for the other boy who lives with his mum, he's kind of out of our jurisdiction and he says in principle he doesnt mind paying his bill in full himself, even though he has no form of income! we'll see... Thanks!
Just got a reply from the RBS saying if the account holder approves the DD or SO then they act on it. So there is literally no protection for young people at all. It's just like a normal account that any adult would have. Therefore they have not upheld my complaint. I shall be taking it further, obviously!
I would go back to RBS and say that legally they cannot be held liable for any debt since they are minors and cannot enter into a contract(that means that should the account have the Direct Debit bounced, the bank cannot charge a penny for doing so ;) ).
thanks. They did refund the money (once we realised that payments had gone through) - that's not the issue. The issue is that they should not have allowed them to go through in the first place and there is nothing preventing it happening again to him or any other young person out there with the same kind of account.