Submitted by Economy_Example_4289 t3_11ebwka in personalfinance
ephemeraltrident t1_jad5fwb wrote
Reply to comment by satansayssurfsup in Should I disconnect my parents from my Bank Account by Economy_Example_4289
To add to this, go to a new bank with the account. It’s been mentioned here before, but without a reason.
It’s too easy for your parents to talk the bank into giving them access to a new account with money in it, or to the old account you’ve taken them off of, because there is a previous relationship there. A sob story to a bank teller or call center employee, who can see the previous transactions and makes a bad call and your parents pull money again. It puts you in a place where you either allow it or have to file a police report to get it fixed, and no one wants that.
New bank, new account, move money = problem solved. Your story could be that your work was having issues with the old bank and direct deposit. A friend referral bonused you to their bank. You switched to the bank your SO uses. You don’t have to tell them the reason, they’ll ask for a reason, so find a reason to tell them.
thatgreenmaid t1_jadjwpj wrote
Because I felt like it is a whole reason. You don't owe ANYONE an explanation of what you do with your money or where you keep it.
PresidentBeast t1_jadnvac wrote
Except the IRS probably
ephemeraltrident t1_jadpq3j wrote
For transfers over $10,000 always, for electronic transfers - definitely when they ask.
ephemeraltrident t1_jadpns5 wrote
Own, no you don’t owe them that. Keeping the peace might matter, at which point an explanation can be helpful. I agree with you - but tried to focus on the PF bits without going into too many other family dynamics.
Bobzyouruncle t1_jadmf5c wrote
Definitely go with this advise. All be aware that the bank probably won’t let you officially close the account without all account holders present. But you can drain it down to $50 or whatever and leave it alone after that (assuming it won’t get drained to zero from fees).
Parking-Artichoke823 t1_jado5rv wrote
>New bank, new account, move money = problem solved.
I am worried it will only open a new problem, which will be emotional blackmail from parents as in "Why won´t you add us on your new account, we need you, we are familly,..." But you can´t really deal with it in any other way I guess.
ephemeraltrident t1_jadpg9a wrote
There are other subreddits for those questions - I tried to keep my answer to Personal Finance
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