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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To worry about my 16yr old bank account?

22 replies

Maisymooster · 27/11/2020 21:46

She's 16 and has an account with Santander. Apparently you cannot go overdrawn on it but I beg to differ. This has happened 4 times now. All for amounts less than £10 but they have written to her once saying if it happens again they will close the account. And this week she has done just that. Her apple pay has been suspended for the 2nd time. I only know this as I opened the account on her behalf and used my email so I get the alerts but dd does too through the app. 1st time it was a mistake due to a subscription, 2nd time she miscalculated and it was about £2 so I paid it off but she's done it again twice after several warnings. I don't know how much yet but I'm annoyed after warning her. My worry is if they close the account will this go on her credit rating for the future? If not then I think it's a lesson she needs teaching but obviously I don't want it to affect her in the future.

OP posts:
Noti23 · 27/11/2020 21:51

I used to have a cash card before the age of 18. It’s the bank’s fault really as these payments should bounce and not go through. Only once was I £5 overdrawn when aged 17 and the bank paid it off as they shouldn’t have allowed me to go overdrawn in the first place. This wasn’t because I was looking after my finances but the payment would not go through in the first place. Maybe look at switching banks? This shouldn’t be happening. I was with Halifax by the way (this was 5 years ago).

WotWouldCJDo · 27/11/2020 21:52

Close the account then?

FudgeBrownie2019 · 27/11/2020 21:55

I didn't think minors were legally allowed to go into debit via bank accounts? Appreciate that she should be staying within her limits but the onus is also on the bank to safeguard someone technically still a child. Can you ask her to contact them so they can explain why it's been allowed to happen?

The forums on MSE are great for all money matters - if you want advice re good bank accounts for U18s I'm sure they'll offer great advice. DS1 uses Lloyds and they're brilliant.

TimeQuest01 · 27/11/2020 21:55

Why don’t you get her a Monzo card?

It’s a debit card you put money into.

Theonewiththecandles · 27/11/2020 23:09

She needs to stop using apple pay/contactless - these will authorise anything, even if there's not enough money in the account. It's not the banks fault, these transactions are not put through to the bank for authorisation which is why it's so quick.
Chip and pin only I'm afraid.

Cocomarine · 27/11/2020 23:13

At 16, I was renting my own flat and managing all my bills. Long before you could instantly check your account online. She needs to take responsibility.

Hadjab · 28/11/2020 01:22

🙄🙄

Graciebobcat · 28/11/2020 02:58

You might want to look into getting her a Nimbl card or similar, OP. They can only spend what is on the card but can still have contactless, buy online etc if you want them to. You can stop the card really easily, get money to them quickly, set up weekly pocket money, spending limits if you want to and you can see what they are spending the money on as they spend it. There is an annual fee to consider but I have found it very good and much easier to set up and work with than a bank account.

willitbetonight · 28/11/2020 08:19

She needs to be a bit more responsible to be honest. Apple Pay lists your transactions and she needs to reconcile her bank account. Teach her to have a buffer. It's a good life lesson.

Original poster
Maisymooster · 28/11/2020 09:03

She used to have a go Henry card but complained it was too babyish! Obviously not. The main thing i wanted to clarify was will this affect her credit rating as an adult?

OP posts:
Rose789 · 28/11/2020 09:33

If they closed the account I don’t think it would have an impact on her future credit score as that starts when she is 18. I would speak to the bank (your daughter will need to be there too) and complain that on an account where where overdrafts are not allowed they have let the account go overdrawn 4 times and ask how they will stop this happening again.
I would remove the account from Apple Pay as that causes a lot of issues as the transaction is processed instantly. Use it as a debit card only and transactions will be blocked if there aren’t enough funds in the account.

Wandafishcake · 28/11/2020 09:33

I don’t know about the credit rating, but surely by the time she is old enough for it to matter (mortgage etc) it will have been so long ago not to matter?

nosswith · 28/11/2020 09:35

Stop Apple Pay is the suggestion I would make.

BingeOnChocolate · 28/11/2020 09:39

Small amounts like that are nonreportable. The issue is though if the bank close the account via a termination notice, whilst the credit report doesn't state it it will be known with Santander under her profile so she may struggle to open something with them for the next 6 years in the future.

I would look at Barclays as they can do a non contactless card but equally she should be learning how to manage her money especially if she's signing up for subscriptions. I'd also look to disable Apple Pay until she can learn to manage her money too.

titchy · 28/11/2020 09:46

No it won't affect her credit rating as she is under 18 and using an account that in theory cannot have an overdraft. So don't worry. And don't bail her out! This is the ideal time for lessons to be learnt.

Iwantacookie · 28/11/2020 09:57

I didnt know that about apple pay. Both my teens are with Lloyd's as am I and it doesnt allow any of us to go overdrawn.

user17425642134531 · 28/11/2020 10:04

At 16, I was renting my own flat and managing all my bills. Long before you could instantly check your account online. She needs to take responsibility.

Hmm You know what an anomaly is, right?

reluctantbrit · 28/11/2020 10:09

Changing to a prepaid debit card it not teaching her how to deal with her money, it babies her.

I would actually close the account and move to another bank, DD is with Nationwide and they don't allow overdrafts. ApplePay may be an issue, I would take this off for the moment to see how she manages. The issue is with Santander here as they are not flagging the account accordingly.

Get her to see her balance every 2-3 days (if she uses it a lot, maybe even daily) and teach her how to spot problems. She needs to learn to budget.

Original poster
Maisymooster · 28/11/2020 10:40

It's easier for her to use her phone to make payments that's all as then she doesn't need to take out the debit card and her phone together. I agree im not bailing her out again. If they close it then she will have to go back to using cash! I just didn't want her to be in trouble in the future. Thanks

OP posts:
Bananalanacake · 28/11/2020 10:47

The interest Santander pays is shit, find a better one, or are all banks interest rates shit.

Fuckitsstillraining · 28/11/2020 11:07

Get a cover for her phone which will carry her card as well.

Soontobe60 · 28/11/2020 11:11

@user17425642134531

At 16, I was renting my own flat and managing all my bills. Long before you could instantly check your account online. She needs to take responsibility.

Hmm You know what an anomaly is, right?

Actually, so was I
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