12/13/2010
Our financial institution wants to offer atm/debit cards to minors. I was hoping for some direction with the following: <ul><li>Do we need specific information about this in the EFT disclosure?<li>If we offer cards to minors between 14-18 is there a discrimnation issue?<Li>I am assuming we need to have a liability form signed by the parents any thoughts on what should be included?</ul>
09/08/2008
I have a customer that opened three accounts, one for each of her children as they receive Social Security direct deposit benefits. The mother is the signer on each account and the individual child was added as an owner only because they are only nine, eleven and seventeen years of age. The mother wants debit cards in the children’s names so she can keep the account straight as to where she is pulling the money from. Can we issue debit cards to a minor and if so, would the mother have the legal right to use them? How would it be handled if the child’s card was used and they wanted to dispute the transaction?
01/07/2008
We continually receive disputes involving minor children (under age 18) who have purchased a product on the internet using their parents debit card number for payment. The parent files a claim for unauthorized transaction. Obviously, they refuse to get a police report as we normally require to continue the investigation. The parent tells us the child made the transaction, but they (the parents) did not authorize it. Can the fact that the parents are responsible for actions of minor children living in their house and using their equipment be our defense for denying the claim?
04/05/2004
Are there any problems or risks in allowing a minor to consent to receive e-statements?
04/05/2004
One of our existing members who is a minor, and their parent who is a joint owner on the account wanted to apply for a VISA debit card for each of them. Can the parent be held responsible for any of the transactions by the minor?
10/07/2002
If a bank permits a parent or guardian to open a joint deposit account with their minor child under 13 via an online application, has the bank subjected itself to COPPA rules?