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Thread: Divorced parents - Access to a child's bank account

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    Divorced parents - Access to a child's bank account

    Good day,

    I'm faced with a situation here and need advice please

    I'm divorced, and me and my ex-wife have a 9 year old son together. My ex have custody of the child, and as such the boy lives with her
    I currently do not have access to the child. I pay monthly maintenance (and I've no problem doing so even if no access as I agree I must support my son)
    Now, I open a bank account for my son (in the boy's name of course : I got a copy of the boys birth certificate from home affairs as I need it for the account)
    I'm the only signatory to the account as the boy is 9 years old

    My concern is that can my ex-wife be allowed to have access to that account? Either to withdraw cash or get statements on the basis that she has custody of the boy?

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    Nope, she won't be allowed. If you opened the acc on behalf of a minor then only you would have signing authority. And nope she wont be able to do any transaction , Your child is a minor and only the guardian that open the acc can transact on acc. UNLESS YOU GIVE HER SIGNING AUTHORITY.

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    No, she NOT have any signing authority
    My worry is that she knows people in the bank, and she is "highly" viewed by them and then she maybe able to get info on the account
    For example, how much is the balance, how much i put on regualr basis and use that to go and ask for more/ higher monthly maintenance on the basis that I have money that i can put away for the child and she wants to have it
    Whereas, from my side the idea is to save as much as I can for the child cause i will need that in future

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    keep track on days that you request over the counter information, statements , balance's etc on acc. Ask the bank for a spin report on acc to tell you.Exactly when acc was accessed and on which dates. Should you find that information was retrieved without your permission. The bank is in breach of Code of Banking Practise.

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    Name:  img_aff97e098bbbc2fdc94e6db9994703a4.gif
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    LAST STEP CONFRONT THE BANK!

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    Site Caretaker Dave A's Avatar
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    Diamond Member tec0's Avatar
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    If the bank gives out any information you can take harsh legal steps against them as their actions could be viewed as illegal criminal. If she keeps your child away from you and you are paying money… then you need to find yourself another lawyer. Getting a second opinion is expensive but just sometimes well worth it.

    I recommend you get one of those lawyer firms on retainer first. Then they can aid you to set up the account as needed. And if the bank allows someone else illegal access then they can take decisive action.

    ***EDIT***

    I may be wrong about this, but if she goes and gain illegal access to view the funds then that would make her actions criminal

    Some food for thought...
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    lol

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    Diamond Member wynn's Avatar
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    If there is a lot of cash, perhaps set up a trust in your chosen name, not the kids name, naming him and yourself as beneficiary with you and your lawyer as trustee, then open an account with you as sole signee in the trust name.
    Nobody but you and your lawyer know about it and while you are alive only you have access to the cash.
    If you expire before you intend that the kid gets the cash he gets the trust with everything it owns including the cash in the bank account but now administered by your lawyer who will respect your wishes.
    Should he die before you, the trust and any cash in the bank account reverts to you.

    If you have more kids you can add them as beneficiaries at any time in the future.
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    Sue the bank for breach of contract and move the account to another bank. It may also be a good idea to form a trust as suggested by wynn.
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