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DC current account - overdraft legal?

(12 Posts)
childoverdraft Sat 01-Apr-17 08:02:03

Trying to open a current account for DC with a high street bank. I can't see anything in the T&C where it says that the account won't be allowed to go overdrawn. I queried this with bank staff who assured me it wouldn't be allowed to happen but couldn't point me to it in writing.

Can anyone confirm what the legal position would be if this happened? Look at CAB website it seems that children under 18 can't be sued for recovery of a debt so I'm wondering whether this covers it.

Anyone know what the answer is on this?

Groovee Sat 01-Apr-17 08:09:34

My children's accounts are with Nationwide and I vaguely remember there being a part in no overdraft and they couldn't withdraw on their account.

Groovee Sat 01-Apr-17 08:09:55

Overdraw on their account sorry.

childoverdraft Sat 01-Apr-17 08:28:41

I have looked at some other banks - some say it on the website info about their account but TBH haven't got time to read through all the detailed T&C for every account to find out what they say.

I'd like to open the account with the bank I chose as its my bank, has a branch in our town etc so is much easier to administer if a visit in person is needed.

Just want to know why they don't actually say this in their T&C.

Groovee Sat 01-Apr-17 13:40:39

Can you speak to someone in the bank?

PossumInAPearTree Sat 01-Apr-17 13:43:32

Well I would believe what the bank staff say.

Dd has an account with Barclays which can't go overdrawn. No idea if it's the terms and conditions, never checked. But if she has £5 in her account and tries to buy something which is £5.05 then her card is declined.

BackforGood Sat 01-Apr-17 13:59:12

Because you can't enter a credit agreement until you are an adult, then the children's accounts are set up so it isn't possible for them to go overdrawn - the transaction would be refused.

WeAllHaveWings Sat 01-Apr-17 14:14:19

ds(13) opened an account a couple of weeks ago, it has a debit card and he has apple pay. He can get text alerts with his balance.

The bank says it doesn't have an overdraft facility and he wont be able to withdraw money when overdrawn, but they cant guarantee he wont go overdrawn (especially as apple pay doesn't come off immediately). They would stop his card/write to him/us if it got too overdrawn. As he is a minor he will not occur any charges and they would expect him/us to correct it if he did (doubt it would get as far as suing for a small amount).

The bank says its all part of ds learning to manage his own money and I agree, if he does go over drawn it means next months money wont go as far as he need to pay off the overdraft first. If it becomes a significant amount or regular I would remove the facility from him until he was older.

Have a chat with the bank when you open the account, ours were very helpful.

WeAllHaveWings Sat 01-Apr-17 14:15:17

occur = incur!

titchy Sat 01-Apr-17 15:24:18

Just ask for an under 18s current account. Not sure what the problem is to be honest, or why you're concerned with ts and cs. All high street banks have them. Transactions that would take them overdrawn are declined.

I'm a bit confused. You want someone to point to where it says in writing that your dc won't go overdrawn but you dont want to read the T&C's? That's where it will be in writing, if you don't want to take the word of the bank staff you'll have to read them!

Allthebestnamesareused Wed 05-Apr-17 22:39:07

Son has account with Nat West. Had £15 in account - tried to pay for something that was more than £15 card is declined rather than going into od.

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