Overdraft Under 18

[Cupra]

It is illegal. A person under 18 can't legally be given a credit facility, which includes an overdraft.

this is what i always thought to be true

 

[iKettles]

I'm afraid ignorance is not a defense, a simple check online would reveal your balance.

Online banking is only available to people over the age of 16.
Will give the bank a ring tomorrow to see if they'll be a good samaritan and take the charge off.

 

[Rainmaker]

Seems people are still confusing the terms illegal and unlawful. They're two very different things. AFAIK (and IANAL) you can be GIVEN credit under 18, it just can't be enforced - hence most companies don't/won't.

 

[Azagoth]

How did you use PayPal when you're only 14?

 

[glitch]

Seems people are still confusing the terms illegal and unlawful. They're two very different things. AFAIK (and IANAL) you can be GIVEN credit under 18, it just can't be enforced - hence most companies don't/won't.

Correct.

As a child you are not legally responsible for your debts, but that doesn't mean you cannot get into debt in the first place. It just means that cannot normally be taken to court for debt.

Usually any bank accounts that offer some form of overdraft for children under the age of 18 require a parent or guardian to act as a guarantor in order for the bank to be able to reclaim any debts from that person.

 

[[DOD]Asprilla]

Seems people are still confusing the terms illegal and unlawful. They're two very different things. AFAIK (and IANAL) you can be GIVEN credit under 18, it just can't be enforced - hence most companies don't/won't.

Good point, well made.

 

[FrostedNipple]

If you don't pay it back your overdraft within 1month you normally get the police knocking at your door!

 

[Rainmaker]

If you don't pay it back your overdraft within 1month you normally get the police knocking at your door!

 

[Energize]

How did you use PayPal when you're only 14?

Lied about his age?

 

[Vonhelmet]

Lied about his age?

Yeah, I used to do that all the time with websites, like, um... never mind.

 

[Aod]

paypal doesn't have any Age Restrictions? or, at least it didn't when i signed up 5 years ago...

 

[Tummy]

I think if you're under 18 and you go overdrawn you wont get charged for it like you would normally.

I've been charged for this before.
Now they're putting the repayment rates up quite high, so make sure you don't go over.

 

[Energize]

paypal doesn't have any Age Restrictions? or, at least it didn't when i signed up 5 years ago...

I'm sure it didn't used to either, certainly does now though.

 

[BigglesPiP]

Ian,
Speak to the bank, don't wait around, the worst case scenario is it gets you nowhere, the best case is you end up with the few quid you had, plus your pocket money, and no charges. Be polite, the person you will speak to doesn't write the bank's polices.

 

[apeZ]

I'm 16, and can't sign up with PayPal on my Visa Electron. I think it cross-checks my details with card details - which have my DOB.

 

[bledd]

Ian,
Speak to the bank, don't wait around, the worst case scenario is it gets you nowhere, the best case is you end up with the few quid you had, plus your pocket money, and no charges. Be polite, the person you will speak to doesn't write the bank's polices.

yup

for now, get your parents to chuck £50 in, then go into the bank and speak to someone, chances are they'll just be nice and remove the charge

 

[Gavin]

on a solo card your not allowed to do this or at least im not with my solo card and natwest. I specifically asked them what would happen in that scenerio and they said the payment would just be declined and there would not costs.