I'm in Caifornia. My sixteen year old opened a checking account without parental knowledge or consent, overdrafted via ATMs the account for a total of almost $300. I am aware of the law that a minor cannot enter into a legally binding contract; therefore, she or her parent can void or disaffirm that contract made without being held liable for the terms of the contract. I told the banker of this, that I wanted her account closed, and he said that this was not true, continuing that if she doesn't pay the overdraft fees, they will send it to ChexSystems and she will have bad credit and not be able to open an account for seven years. Is the banker just ignorant of the law, or just lying to us? What steps do we take now that the bank refuses to void the checking account contract?
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Check with a legal services office. California law suggests that a minor may open a bank with a contract that is binding on the minor, and that a parent cannot interfere with the account if the minor is over 13 years of age. Many states have laws that allow minors to open bank accounts under fully binding contracts.
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Check with a legal services office. California law suggests that a minor may open a bank with a contract that is binding on the minor, and that a parent cannot interfere with the account if the minor is over 13 years of age. Many states have laws that allow minors to open bank accounts under fully binding contracts.
