# childrens post office account



## babygirl (29 Nov 2010)

my 22 months old has a post office account with all her christening/child benefit money and has around 3600 euro at the moment. since she is under 7 no withdrawls can be made on the account....is there any way of canceling the account to get the money out so i can put it in a safe at home?
i am a single mother so cannot loose this money as i would like her to use it to help with her going to college


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## mmclo (29 Nov 2010)

babygirl said:


> since she is under 7 no withdrawls can be made on the account


 
Where does it say that, sounds unusual, who put the money in? Sure it's not some sort of fixed term deposit or bond


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## NickyK (29 Nov 2010)

I opened a PO account for my 2 yo about a year ago and they asked did I want to nominate somebody who could access the account until she was older.


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## Lightning (29 Nov 2010)

Surely you can do the withdrawal in her name? Have you asked in An Post?

A safe may not be the best idea. Have you considered other options for the deposit?


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## suemoo1 (29 Nov 2010)

you can take it out in their name and on their behalf as ive done it with my two daughters a/cs when they were under 7..


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## babygirl (29 Nov 2010)

CiaranT said:


> Surely you can do the withdrawal in her name? Have you asked in An Post?
> 
> A safe may not be the best idea. Have you considered other options for the deposit?



i will contact an post tomorrow. my name is not on the account but i think its possible to add at any time.

with all the stuff iv being hearing about ...if the country goes bankrupt, if we have to leave the euro, if the banks go under, if all deposits are devalued or frozen or changed to a new currency. i dont know what to do at all!!
at least if the money is in say a fire/water proof underfloor board safe at least i know it will be there when i wake up every morning. 

actually what will happen to peoples loans if the banks go bust?


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## mmclo (30 Nov 2010)

Keeping a large amount of cash in your home is not advisable. There are plenty of threads here about where to put your money and what the risk is maybe try some of them but keeping a large amount of cash in your home is, unfortunately, asking for trouble.


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## Lightning (30 Nov 2010)

+1.

There are safer options than leaving your money at home !!

Have you read Brendan's new key post about deposit safety?


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