Divorced parents - Access to a child's bank account

[SSS100]

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?

[jua]

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.

[SSS100]

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

[jua]

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.

[jua]

LAST STEP CONFRONT THE BANK!

[Dave A]

I'm no lip reading expert, but even I got that one

[tec0]

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...

[jua]

lol

[wynn]

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.

[Blurock]

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.

[SSS100]

Thank you guys
I think i like the trust idea? any lawyers that can open such can send me a message...hope its not too expensive

[tec0]

I would recommend contacting a company like Old Mutual and see what can be done. I do a lot of business with them and they seem to be on the level.

[Justloadit]

If a manager access the account, there is no way that you as the owner of the account will know. Secondly how can you prove that the manager who accessed your account did pass the information to the ex? and this is where the problem lies. Proof, rather be safe than sorry.

If you google Rob Velosa or the Best Trust company, they may be able to help. Setting up a trust will cost between R3 and R5K depending on the type of account. Also be aware that there is a yearly auditing costs, and also yearly storage cost, and a yearly trustee cost. In the end it is definitely worth it if you can afford the yearly running fees. Depending on the amount of transactions through the account yearly, the audit fees can vary between R1000 to R5000 a year, storage cost is a betweenR150 and R300 a year, and a trustee fee can vary from R100 to R1000 per month, depending on the amount of duties the trustee must exercise. Best is to negotiate at the time of drawing up your trust.

Also be careful about getting a lawyer to do your trust, as what makes the trust valuable is the quality of the defence in court when a problem arises. I would suggest that you get a Trust lawyer, or a lawyer who only deals in trusts to draw you the paper work as this is their daily job, and will have experience in court defending trusts.

[ians]

I would recommend contacting a company like Old Mutual and see what can be done. I do a lot of business with them and they seem to be on the level.

Funny how some people trust some compnies, i wouldnt trust old mutual with my coin piggy bank never mind my life savings or long term investments, once bitten twice shy.

[claassenattorney]

No! In any given circumstances your ex-wife cannot have the access to the bank account and why would she have the same? There are 2-3 things that you need to take into consideration to deal with the issue. First, the bank with whom you have the account that your child is a minor and you are the only signatory to the same. Also, add that you are your wife is not together so, they should not allow accessing her the details of the bank account. Another important task would be to get in touch with a professional lawyer who specializes in child custody and look after the kind of issues as discussed by you. They will definitely help you in this context with best results for sure.