5 ms·

You're going to uni, but your father keeps tabs on your account? I don't know whether it's you or him, but really, you should both be able to trust you to take

You're going to uni, but your father keeps tabs on your account? I don't know whether it's you or him, but really, you should both be able to trust you to take good financial care of yourself. It's an ability everyone needs and that you can't learn early enough.

caw 15y ago
I wouldn't say that's completely unheard of when I went to college. If he's watching it because he doesn't trust you to manage your own money that's one thing, but there are other reasons for being able to manage an account. For instance, if the father wasn't a custodial on the account he can't deposit money in the event he needs it. My parents would have to mail me a check or pay a $25 bank transfer fee because they bank elsewhere. With student privacy laws, the father can't directly see school bills. Those have to go to the student, even if the parents are paying. My school also had a student account where you could pay for food, vending, and laundry. This is a separate account that requires replenishing, so the guys I knew would sometimes call their folks asking them to deposit some money for expenditures (freshman/sophomore year, everyone pretty much had some side income by then).
- randallsquared 15y ago
  For instance, if the father wasn't a custodial on the account he can't deposit money in the event he needs it. When did that start? I've deposited money many times into other people's accounts without problems; you don't even have to show ID -- just fill out a deposit slip with their account number and hand over cash.
  - dodedo 15y ago
    In person? Not sure about that, but I know that recently I tried to set up payments between BofA and WellsFargo and I wasn't able to do automatic or online transfers of amounts over $1000. When I was younger I had a joint custodial account with my father, for a similar purpose, though it wasn't my primary checking account. It's much, much easier to move money between two accounts you control.
younata 15y ago
He probably doesn't keep active tabs. I doubt he wakes up and says "I wonder what <my name> bought yesterday" (if he did, that'd many boring weeks, followed by a day where I went grocery shopping). as caw[1] said, it's really more so that he can easily transfer money to the account in the event I need it. [1]: http://news.ycombinator.com/item?id=3158076 http://news.ycombinator.com/item?id=3158076
Hyena 15y ago
That's pretty common. When I was in college, my parents wanted to keep tabs on the account they deposited working money in. It gives them peace of mind, especially considering the sums being discussed. The only time it ever came up was when I switched from take 15 hours to 22 and my burn rate shot through the roof.

caw 15y ago

I wouldn't say that's completely unheard of when I went to college. If he's watching it because he doesn't trust you to manage your own money that's one thing, but there are other reasons for being able to manage an account. For instance, if the father wasn't a custodial on the account he can't deposit money in the event he needs it. My parents would have to mail me a check or pay a $25 bank transfer fee because they bank elsewhere. With student privacy laws, the father can't directly see school bills. Those have to go to the student, even if the parents are paying. My school also had a student account where you could pay for food, vending, and laundry. This is a separate account that requires replenishing, so the guys I knew would sometimes call their folks asking them to deposit some money for expenditures (freshman/sophomore year, everyone pretty much had some side income by then).

randallsquared 15y ago
For instance, if the father wasn't a custodial on the account he can't deposit money in the event he needs it. When did that start? I've deposited money many times into other people's accounts without problems; you don't even have to show ID -- just fill out a deposit slip with their account number and hand over cash.
- dodedo 15y ago
  In person? Not sure about that, but I know that recently I tried to set up payments between BofA and WellsFargo and I wasn't able to do automatic or online transfers of amounts over $1000. When I was younger I had a joint custodial account with my father, for a similar purpose, though it wasn't my primary checking account. It's much, much easier to move money between two accounts you control.

younata 15y ago

He probably doesn't keep active tabs. I doubt he wakes up and says "I wonder what <my name> bought yesterday" (if he did, that'd many boring weeks, followed by a day where I went grocery shopping). as caw[1] said, it's really more so that he can easily transfer money to the account in the event I need it. [1]: http://news.ycombinator.com/item?id=3158076 http://news.ycombinator.com/item?id=3158076

Hyena 15y ago

That's pretty common. When I was in college, my parents wanted to keep tabs on the account they deposited working money in. It gives them peace of mind, especially considering the sums being discussed. The only time it ever came up was when I switched from take 15 hours to 22 and my burn rate shot through the roof.