Asked in
Children and the Law
Banking
Money Management
Commercial Bank and Checking Accounts

If someone is 17 years old who is responible for overdrafts on a checking account the parents or the 17 year old?

Answer

User Avatar
Wiki User
February 28, 2013 3:46AM

Nobody except the banks , I am a 17 year old and I am only just beginning to learn about the responsibilty of money with a new job , getting a new car , running my own life as a adult and so it is easy and perfectly normal to make mistakes along the way. Unfortunatly this can cost £15-£25 for going overdrawn but I'v heard banks do not charge under 18's for being overdrawn anyway. Maybe the banks should think twice about giving a 17 year old any access to money they dont have, theres credit history for a reason , maybe they should use it and not rely on teenagers sensibilty and parents pockets in this matter.