More good news / bad news

[EmporerEJ]

Originally Posted by sarettah

Huh???

Where do you get that from.

My daughter has had a checking account w/ a debit card since she started working at 16. In fact the only way the company she works for pays is direct deposit so she had to get an account.

The only thing she needed was a signature from me indicating that it was ok. There are no co-signers on the account or anything like that.

As far as I know there is no such law on debit cards. I don't know the law on credit cards.

If you aren't 18, (or legally emancipated) you can't enter into a contract. You start to get into slice and dice legalities here, better handled by a lawyer.
And, of course, we also get into the fuzzy area of local state jurisdiction of 18/21.
I would think that ANY transaction made by a minor could be deemed invalid under contract law. Yet another way for the Banks to screw the merchant. (As if they didn't have enough loopholes in the MC/Visa guidelines now.)

So it's probably a bad idea, even if it was OK for a kid to get a hold of a debit card, to depend on that as a valid form of payment.

But now it begs the question? Are you concerned from a chargeback standpoint, or are you concerned that a 17 year old, 11 month 29 day old "child" might see porn while he's waiting for the bus to boot camp?

Our process is a bit more in depth, as we are a direct merchant, and don't work through third party processors. We follow the hipaa guidelines with customer privacy/certification.