I'm 16, what do I do to get a Debit Card without telling parents?
The only way you can get a debit card of your own without your parents knowing is if you have a savings account of your own. As you are 16 years of age, you are allowed to have a Savings Account without involvement of your legal guardian. However you haven't mentioned from where will you have money to put into this account to fund your use of debit card. Either you are already doing some kind of work that pays you some money, or you get some kind of pocket money from your parents. For lack of information, I'm assuming it is savings from your pocket money which you can deposit in your Savings account.Please see the following relevant excerpt from a RBI circular confirming that you are allowed to open an independent savings account:Further, with a view to promote the objective of financial inclusion and also to bring uniformity among banks in opening and operating minors’ accounts, banks are advised as under:A savings /fixed / recurring bank deposit account can be opened by a minor of any age through his/her natural or legally appointed guardian.Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping in view their risk management systems, fix limits in terms of age and amount up to which minors may be allowed to operate the deposit accounts independently. They can also decide, in their own discretion, as to what minimum documents are required for opening of accounts by minors.Full text of the circular along with a pdf version from which above is excerpted can be found at this link of RBI: Reserve Bank of IndiaHaving said above, I am not able to gather the reason why you would not want your parents to know about your having a debit card.Important Note:I hope you do understand that a debit card needs prior funds in your account and is NOT the same as a credit card which doesn't needs prior linked funds. If you need to understand the difference between these two, a reasonably good explanation can be found at Debit Card vs Credit Card - Difference and Comparison. In case you were hoping for a credit card, let me add that you can not have one without one of your other eligible earning parent co-signing for it.
If my bank mistakenly deposits $1,000,000 into my account, am I legally allowed to spend it before they realize their mistake?
Once a bank deposited mistakenly 150,000 in my account, I took it all and when bank sent me a notice, I refused to pay. The bank then collected the money from my other bank account which was with same bank. The bank informed me that how mistake was done. It was due to same debit card number on diffrent accounts. I went to a lawyer and sued the bank 1. Mishandling accounts2. Intention to create negetive credit report (before this incident I tried to apply for a loan and bank refused it since I had bad credit score)3. Agnoy caused. 4. Mental harrasment. The case was judged in my favor and bank needed to pay me another 250,000 as damages. Court also ordered bank to pay 150,000 to the person who lost money and damages of 100,000 Soon after this the bank manager was changed and bank forced closed my accounts giving reason a really bad credit report and as a negetive customer. I again filed a case against them since no bank can deny your account on basis of credit report. Since now this time it was in media, bank settled the case outside the court giving me 500,000 and 250,000 to my lawyer. Later after a year I applied for a loan under certain special conditions and bank approved it without going for in depth investigation. I was unable to pay installment on time so they sent a recovery agent to me who tried to force money illegally, since I have CCTV installed, I had all proofs that it was bank's agent trying to harras me. I sent it all to my same lawyer again and before any case could be filed, a settlement was made in which bank closed my loan and offered me a million dollar as damages. I again applied for loan bank approved it and even I don't pay my installments on time bank never calls me or sends a reminder. You see you need to have presence of mind and a good lawyer.
Can a 13-year-old get a debit or a credit card?
In the UK not a Credit Card.You have to be over 18 to hold a Credit Card.You may hold a debit card which usually doubles as an ATM card, however you will only be allowed to draw the amount of cash you have in the bank account.As a minor (I am sorry of the word irritates you, but it is a legal expression) you can only hold a Deposit Account, or a Current Account and the latter having no overdraft facility.In short you cannot enter any form of contract for an overdraft or loan, whether that be in the form of a “Term Loan”, i.e. a fixed amount borrowed of a fixed period by instalments; or a “revolving loan” which is in effect a Credit Card or an Overdraft.Indeed (in English Law) there are only certain contracts which are binding on minors or they can enter. However other contracts can be entered but there is no legal recourse by the person who provided the service which you were due to pay or in turn provide. Again in English Law it comes under the Consumer Rights Act 2016 (a consolidation of the Sale of Goods Act 1979 and other Consumer Regulations, including the Unfair Contract Terms Act 1977 and others).There are certain laws relating to “the contract of minors” again a Section in the Sale of Goods Act 1979, which means that if the vendor knows that the person is below the age of 18 and sells goods to them, their rights of recourse are lower than a person over the age of 16. There are other provisions within the Act which relate to the rights of minors to have certain material items which are a necessity for their safety or well being.Doubtless American Law has similar Statute.
Should I let my 12 year old get a debit card?
Hey there,Times have totally changed over the last few years. The average child gets a savings account when they’re 10 years old and even more surprising - their first smartphone at 10 as well!It’s important to start teaching kids about money at an early age. But, as they get older they’re going to be exposed to things like debit cards or even credit cards. While I wouldn’t recommend getting your child a credit card, a debit card can be a fantastic way to help your 12 year old learn how to become a smart spender. My recommendation is your child is probably ready for a debit card as soon as they have a great understanding of how cash works. Typically, this is around 8–12 years old.Not all debit cards are created equal though, so I’d recommend checking out Greenlight. It was designed specifically for kids and teens, and offers parents a bunch of flexible parental controls that aren’t available your typical bank. Think about it like this, you wouldn’t teach your kids how to ride a bike immediately without letting them get the hang of it with training wheels first right? Greenlight has a number of safety features that make it far safer than cash, and a great way to continue your child’s financial education. (Not to mention, it’s extremely convenient for parents!)Greenlight is the first company to offer store-level controls meaning you can limit the exact stores and amount of money your teens can spend at. Not only that, but you can automate allowances and receive instant notifications as soon as a purchase is made.I’d be happy to answer any additional questions that you have, but feel free to visit us at www.greenlightcard.com for more information.
How can a college student in India get a credit card?
I am taking this question to inform all majors (18+) that HDFC bank does provide unsecured credit card to people who are college going and/or are unemployed. Yes, you don’t need to open an FD for acquiring a credit card. But, only the HDFC savings account customers are eligible to avail this facility.I am a student without any source of income and I applied for INSTA CREDIT CARD through HDFC Payzapp app. The card was approved in 2 hours (yes!) without any paperwork. Ofcourse, HDFC runs a background check on your savings account and big data algorithms to decide on the approval and credit limit based on your transactions history and spending pattern. You account must be old enough to generate substantial history, 2 years in my case.While the credit card approval depends solely at the discretion of the bank, if you hold an HDFC savings account, you can give it a try. For other major banks, credit card against FD is an option. Other, apply for an add on card if your parent/sibling possesses one.P.S- If you are not a financially disciplined person (and without any income source), then you should not opt for credit card. It comes with very high interest rates (~36–42% pa) for new customers, especially if without any income source, and may easily lead to huge debt if not handled responsibly. And, a poor credit score is always on the card in such cases.
What is my mother’s maiden name?
That would be her last name as a child. say her name is now Mary Martin. That's her married name because she took his last name when she married him. but before she got married her name was Mary Brown. Brown was her dads last name. So Brown is her Maiden name. In the old days an unmarried girl was called a Maiden.