Child's bank account opened by grandparent

[GoldenWonder66]

Hi,

I've googled this a few times and just wondering if as the named father on my daughter's birth certificate what sort of power I'd have over a bank account opened in her name by my ex's mother?

I know I am responsible for my daughter's property and money until they are of maturity as per parental responsibility, but am I able to request control over this account if I feel (and can prove) the grandparent is not an appropriate person to have control over their account?

My worry is the collective money going in will magically vanish one of these days en-route to the bank, so if I've access to account it'll be peace of mind from my perspective for my daughter.

Why do you need access to a savings account opened by your child's grandparents?

Just don't put any of your own money in and then ignore it. It's got nothing to do with you?

Ask for "the collective money" to go to a different account. The person who opens a child's account has full control over it, is the trustee of the account on behalf of the child.

None. The person who opened the account does.

Don't put money into an account you don't have control of. Open on fr your child yourself and any money given to your child goes in there.

Just open another account

Whose going to be collectively putting money in? You don’t have to put money in there if you want a separate account for your dd then set one up. Presumably your ex is aware, also has parental rights and is fine with it?

Sorry but it sounds a lot less like piece of mind and a lot more like controlling your ex and her family. Sorry but this is your ex’s business not yours IMO

You have no rights over the account. Open your own account for your child if you want control over their money

Open another account that you control.

Whose money is going into this account?

As pp say, open a savings account yourself. Don't put any of your money into the account opened by her grandparents then you won't lose money. Any money given to you for her, put in the account you have.

grandparent opens account, grandparent puts money in.
you open a different account, put your own money in that.
To be honest, if the grandparent chooses to withdraw their money from an account they control for your child, and spend it, that's up to them, not you.

I don't think you can get any access to it. What collective money is going in there? Gifts from your ex's side of the family? Not much you can do about that and it potentially going astray. But if your family give your DD money you can set up an account for her yourself and ask them to lodge it there.

Depends what sort of account it is. If it were, for example, a junior ISA, then the grandparent wouldn't have any access to the money either, and it would immediately go to your child on turning 18, although I don't think that grandparents can actually open those accounts tbh.

If it's a normal savings account then forget about it and save your own money elsewhere for her.

Open your own account. Put money in that account. Problem solved.

any money the grandparent sets aside is really theirs to do with anyway.

Where is the collective money coming from? Ex and exMIL, ignore. You and your family, open your own and tell everyone, then ignore.

Most childrens savings accounts cannot be accessed by anyone other than the child when they reach the appropriate age.

If its a bog standard high street bank savings account then there will be a named adult who is responsible for the account and they can withdraw the money if they want.

If it's a junior ISA/child trust fund then the money cannot be withdrawn and will be paid to the child at the appropriate age.

As many others have said, you won’t have any authority or access over the bank account opened by the grandparent and why should you. You can open your own account for your child and put money into it including any birthday/Christmas money the child receives. I think the fact that a grandparent has opened a bank account for the child shows they are responsible and perhaps putting money aside and encouraging grandchild to be responsible for money so do wonder what concerns you have about the grandparent not being an appropriate person.

No, you don't need to be a part of it.
Start a separate account for the child if you also want to contribute, but so that it has nothing to do with your ex or exmil.

My dcs have had an account opened by grand parents.
Said grand parents put money for them on it. That was it.

But it sounds like that account is used for other things. What is the ‘collective money’? Is that money given to the child by other family members and you are worried that the grand parents will help themselves to it?

Set up your own savings account for your child and stop paying into this one you can't access and have no control over. That's much easier than trying to convince a bank or building society that one of their account holders will be unscrupulous at some point in the future.