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It usually means that an adult has opened an account for a child and has the ability to add/subtract or "control" the account for the child. Can also be for adults; ex-when a large amount of money is involved and custodian wants to limit beneficiary's access. Basically, someone besides the account holder who has access to and can change said account.
What else can I help you with?
How do you write a letter to bank manager for transfer one person account money to another person's account?
how do send a mail to bank while transfer money from account to another
How does someone close there bank account if they are under the age of 18 and will they need the parent that opened the bank account with them when they go to close it?
Most likely, the parent who opened the account is the custodian of the account and is technically the only person who can make major changes, including closing the account. Therefore, the parent who opened the account will need to visit a local branch to close the account.
How the direct debit payment system works?
A direct debit payment solution is simply a financial transaction in which one person withdraws funds from another person's bank account. Formally, the person who directly draws the funds instructs the bank to collect (i.e. debit) an amount directly from another's bank account - and then pay those funds into a bank account designated by the payee. Direct Debit is an agreement between yourself and your bank, which authorizes the bank to allow an organization to collect a regular or irregular payment from your account. It is actually managing your funds better!
Can they touch bank account in your name and another name?
no. unless the person who owns the account dies; therefore, maybe their kids can if they are old enough
Who or what is a bank account holder?
A person on whose name the bank account is opened is called the bank account holder. He is the one responsible for maintaining the account.
What bank account would children open?
A savings account with a parent as custodian. You have to be 18 to have your own account.
How do you write a letter to bank manager for transfer one person account money to another person's account?
how do send a mail to bank while transfer money from account to another
Can a creditor garnish your bank account if joint with another person?
no
How does someone close there bank account if they are under the age of 18 and will they need the parent that opened the bank account with them when they go to close it?
Most likely, the parent who opened the account is the custodian of the account and is technically the only person who can make major changes, including closing the account. Therefore, the parent who opened the account will need to visit a local branch to close the account.
Can another person be added to her checking account even if not married?
depends on bank
Can I send money from my account to another person's account?
Yes, you can send money from your account to another person's account through various methods such as bank transfers, online payment platforms, or mobile payment apps.
Can I wire money from my bank account to another account?
Yes, you can wire money from your bank account to another account.
What is a bank statements?
A bank statement is a communication from a bank to a person holding an account in that bank, detailing the value of the holdings in a person's account and the effects of all that person's transactions.
What is the meaning of a bank 'transaction'?
I'm pretty sure it means when one person transfers money to another bank account.
What are 3 ways to withdraw money from a bank account?
Three ways to withdraw money from a bank account are through an ATM, by visiting a bank branch in person, or by using online banking to transfer funds to another account.
Can my bank wire money to another account?
Yes, your bank can wire money to another account.
Can somebody go after your joint bank account in Maryland to collect a debt from just one person?
Yes. A joint bank account is an equal property of all the parties involved in the joint account. So if one of the parties who jointly hold an account owes a debt to the bank, the bank can lay claim to the cash he/she has in an account they jointly hold with another person.
