My Mom took money out of my checking account without telling me?

Question

I'm 17 and I just opened a checking account at a local bank a week or so ago. In order for me to have my checking account my Mom had to add me onto hers which gives her full access to my money. (I earn this money at my job and I'm trying to save, its not like she puts the money in there its all mine) I didn't think there would be any problems but I went to the bank last night to take money out and the teller told me there wasn't enough. I asked for a printout and it said that there was funds transfered from my account into my Mom's. I gave her money the other day too. I had no knowledge of this. I'm asking if there is any way that I can secure my account? Or are there any other ways for me to open my own? I think I might have my boyfriend co-sign on another one with me. How should I react to this though?

I did ask her about it and she told me she didn't know I was going to check my account and she was going to replace it a.s.a.p. But the situation would be totally different if she had asked, I would have lent her the money willingly.

She doesn't have a job right now and I understand that but I do and its my money. Thanks for your help.

Answer 1

I think your best bet is to not have anyone else one an account. You can save your own money without a checking account. Its a lot better way to learn how to manage your money also. Many times actually seeing the cash disappear lets you see how much you're really spending. I know that America promotes a cashless society but I beleive thats the wrong way of doing things. I also suggest always ask for receipts if needed. (after paying bills).
You can buy money orders cheaper than your monthly bank fees.
Try other banks. In many states 17 is the legal age.
Anytime you are signed up under anyone else- your money is there money.

Answer 2

If her name is on the account, she legally has partial ownership of your money. Ask her about it (nicely!!), she may have been planning to pay you back before you realized it, or may not even know it happened.

Bank of America and Pulaski Bank both have made exceptions to the "18" rule. I would call around to several banks in your area, tell them you don't have the option of having a parent co-sign on an account for you, and ask them if you can still open an account with them at 17. They may say yes, they may not. IF you can get direct deposit on your paychecks through your job, they might be willing to let the rules bend for you. Also, if you are a college student many banks have special "college student" accounts, regardless of your age.

DO NOT, I REPEAT DO NOT open an account with your boyfriend's name on it. I realize that right now you probably have a great relationship, and he tells you he'd never touch your money, but if you break up you can wind up SCREWED. Learn from my mistakes, my FIANCEE, yes the man I was planning on marrying and thought I knew better than my own self, left me with a rent I couldn't pay, an empty bank account, and ruined credit. He also took the car I had paid for because it was in his name (he supposedly got a better interest rate alone than with me on the title). Keep your money separate. At all times. Don't let anyone be responsible for your money other than you.

Answer 3

Ash your mom why the money was taken out. But do it nicely. By law there is nothing you can do to prevent your mom taking your money.
But I don't think it would be a good idea to open a checking account with your boyfriend. The same thing can happen. Plus he can check into your account to see what you are doing. How long until you turn 18? It might be best to wait until then.

Good Luck!

Answer 4

Ask her about it.

Banks will sometimes transfer money from two associated accounts to make up for insufficient funds. Your mom might not even know about it if this happened.

She is within her rights though, legally if she did do it. But she should have told you.

If she did do it, she must have been very desperate. No mother would do such a thing unless she planned to put it right back and it was a financial emergency. So I would not be too hard on her.

Answer 5

Talk to your mom. Since you are sharing an account she may not have kept records of how much was yours. If she is taking your money she is either careless, a thief or feels entitled. Talking to her is the only way. Opening an account with a boyfriend might not be wise. Try a grandparent or your father or keep your money in a jar in a hole in the back yard.

Answer 6

This suggests a serious problem. Is she so short of money that you would have gone hungry without it? She still should have talked about it with you, but that would explain it. Unless you have an obvious financial need for the family, I strongly suspect that her urgent need is an addiction or is psychological. As a college student, you are living in your own place, even if it is the dorm. In most states, you are able to open your own bank account in your own name. Go to a local bank and ask. Most of them trip over themselves to get students. I wouldn't suggest that you forge her signature on an application to open an account, but you don't have to tell your mother about the new account.

Answer 7

As a minor, you cannot open an account without an adult to sign with you. If your BF is at least 18, then he can do this for you.

You should talk with your mom openly about the money. Hopefully she will have a good reason and will replenish the funds immediately.

Answer 8

She has no right taking what is yours, stealing is stealing, Call her on it and let her know you are going to open another account with someone you can trust.Legally she can do this, but morally it wrong.If she needed a helping hand she should have asked.

Answer 9

Don't get your bf involved. Huge mistake.

Ask your bank if they can put a restriction on your account to where you have to sign (approve) if she withdraws or transfers money.

Answer 10

my mom used to do this all the time.i used to have to hide my money that i earned in places she don't even think of.go to her and let her know that you would like your money back and from now on put your money else where or you'll stay broke.