Vol. 573 No. 4
234 Mr. Stanton asked the Minister for Finance the plans he has to introduce legislation to make it mandatory for parents' permission to be obtained before bank accounts can be opened; and if he will make a statement on the matter. [25803/03]
I have no statutory function in relation to the opening of bank accounts and I have no plans to introduce legislation on this matter. The terms and conditions that apply to the opening of bank accounts are a commercial matter for the banks themselves, apart from the obligation on banks to know their customers under anti-money laundering legislation.
The Deputy might be interested to know that a minor must be at least seven years of age before he or she can open and operate a post office savings account without parental consent. Prior to this a post office savings account can be opened and operated by a parent-guardian on behalf of a minor under the age of seven.
