The rules regarding saving for children are clear: the amounts paid become their property. But what about an amount paid in error? This is the question asked by one of MoneyVox readers. Discover our response here.
Question from Para, April 18
“I paid 6,000 euros into my daughter’s Livret A by mistake. Can I take them back? »
Hello Para and thank you for your question. You have paid 6,000 euros into your daughter’s Livret A by mistake and wish to recover them. Know, first of all, that the law is clear: from the moment you deposit money into an account or a Livret A in your case, opened in the name of your child, the sums become his property. And this, in a way final and irrevocableregardless of age.
However, if your child is a minor, he does not have “legal capacity”: it is therefore up to you, his parents (or legal representatives) to manage your savings. It is possible to withdraw all or part of the income generated by this heritage, but “the use of these funds is limited to expenses which directly concern the child (education, maintenance)”, we can read on the service-public website. .Fr. And this, until he was 16.
Please note: From the age of 16, your child, in theory, no longer needs your authorization to make withdrawals. However, you have the power to object.
Livret A: can you use your child’s account to invest your own savings?
A possible withdrawal
However, these 6,000 euros do not come from a donation from a third party like his grandparents for example or from an inheritance, it should therefore be possible to recover amounts paid in error. Most banks authorize withdrawal operations by legal representatives, if your child is a minor. Especially if you are the one who made the deposit. If in doubt, contact your bank to explain the situation and make the transfer to your bank account.
Finally, upon reaching the age of majority, the child can dispose of the money placed in accounts in his name, as he wishes. If your child is an adult, simply ask them to return the amount to you.
