Quick Question about Bank Statements.

Discussion in 'Community Discussion' started by TSE, Jul 7, 2011.

  1. TSE macrumors 68030

    Jun 25, 2007
    St. Paul, Minnesota
    I just opened up a checking account with a check card at USBank.

    My parents will be getting a bank statement every month in the mail while I get mine online since I will be off to college this year.

    Will my parents know what I buy? I am not planning on buying anything disgusting or anything, honestly, but I value my privacy as much as the next guy.
  2. 184550 Guest

    May 8, 2008
    Did you add your parent(s) on the account?

    Or do you mean that your paper statement will be posted to your house/ your parents house where they'll have easy access to it?

    I know USAA provides a very brief summary of each charge.

    For example:

    Fast Food, McDonalds $5.87

    Electronics, Best Buy $70.74

    Something like that anyways.


    When I was in University, I added my mother to my account so that she could add money to my account if ever need be. Worked out pretty well, she would often put money back into my account if she noticed that I'd bought items for school. Like books, school supplies, ink for my printer, etc...

    So it's not necessarily a bad thing.
  3. skinuca macrumors member


    Jun 15, 2005
    New York City
    If they open your statements, they will know at which businesses you spend your funds and the dates, but they will not know for what.

    You can ask US Bank to not send you any paper statements, if you are concerned. Or you could fund something like the new amex prepaid card. It has no fees from what i have read and then when you spent places you did not want the parents to know, you could spend it on that card.
  4. TSE thread starter macrumors 68030

    Jun 25, 2007
    St. Paul, Minnesota
    I am the only holder of the account, the banker offered to have a joint account but I told him I wanted it to be just me. Does this change anything?

    But a paper statement is being sent to my parents every month, my mother insisted. Not quite sure why.

    I value my privacy over money for now though.
  5. Mac'nCheese macrumors 68040


    Feb 9, 2010
    Then the paper statements should go to your parents house but will have your name on the envelope. If your parents open your mail, you need to talk to them about privacy issues....
  6. TSE thread starter macrumors 68030

    Jun 25, 2007
    St. Paul, Minnesota
    Yeah, privacy is not a word in our household. That's why I'm movin' out. :)
  7. cantthinkofone macrumors 65816


    Jul 25, 2004
    Missouri, USA

    They are crooks. I went around and around with them for two years before I wised up and ditched them. In the end I had a balance of $300 some that they claimed I owed them.
    It started out as a over draft that I said I refused to pay because they held funds I deposited but still let me spend the money and go negative when the check cleared the next day. I went negative $15 some dollars I believe it was. I called and told them I was closing my account effective immediately and would pay the $15 but no over draft fees or any other fees. I stopped using the debit card, stopped looking at my online account and changed my direct deposit to another bank. A month later I received a letter saying I owed $300 some dollars. I closed the account then and told them I was not paying it. A few months later I ended up paying $115 to a collection company. I only paid this because another person had been added to the account two years prior to this and was still connected to the account some how. I didn't want to mess their credit report up. I could care less about mine because I bank at a local bank but they are anal about theirs.
    The rep. I talked to from the collection company was very nice surprisingly. He told me that the amount I owed was pennies compared to some people he has talked with. I gave him a brief description of everything I went through with US Bank about over draft fees, re-ordering transactions, lying to me on the phone and at the local branch, etc etc. He said again I was not the first he had dealt with. He assured me that the debt would not go down as a bad mark on my report or the other persons report and so far a year later it has not.
    I couldn't be happier about switching to a local bank. They have about 10 branches within 150 miles of where I live so they aren't that small. We have two branches here in town and I always bank at the same one. I am on first name basis with one of the managers and the tellers I have relations with. All are very friendly and helpful.
    If you have no other choice so be it, just be very careful when banking with them. They are in it to get your money not to help you.
  8. renewed macrumors 68040


    Mar 24, 2009
    Bemalte Blumen duften nicht.
    Just go online and opt out of paper statements.
  9. CorvusCamenarum macrumors 65816


    Dec 16, 2004
    Birmingham, AL
    Out of curiosity, why did you have to add your mother to the account in order for her to deposit money? This has never been an issue anywhere I've banked in 20 years.

    To the OP: you really don't want to deal with a bank anyway. A credit union is probably the way to go.
  10. CalBoy macrumors 604


    May 21, 2007
    If you're over 18, your parents need to learn about boundaries.

    Go online (ASAP) and cancel paper statements. If your parents ask, you need to be direct with them and say that it is not ok for them to invade your privacy unless they are putting substantial sums of money into that account.
  11. lewis82 macrumors 68000


    Aug 26, 2009
    Totalitarian Republic of Northlandia
    This. I have yet to find an advantage a bank has over a credit union. However, since credit unions are not-for-profit organisms, their goal isn't to scam you/rip you off.
  12. 184550 Guest

    May 8, 2008
    The account access is provided electronically. She had to be added in order to have permission to withdraw/ add funds between her account and my account.
  13. yg17 macrumors G5


    Aug 1, 2004
    St. Louis, MO
    The statement will say where you used your debit card, not what you bought with it.
  14. callmemike20 macrumors 6502a


    Aug 21, 2007
    The place you used your debit card can explain a lot of things...

    Entertainment, Bunny Ranch $4,500.00
    Entertainment, Adult Toys $31.00

    Yea, explain that to your parents...
  15. r.j.s Moderator emeritus


    Mar 7, 2007
    If they are not depositing money into the account, then they have no reason to be on it, and absolutely no reason to get a copy of the statement.

    Turn off the paper statements.

    If they are depositing money, then they are just in requesting statements (to see how you are spending their money).
  16. Gregg2 macrumors 603

    May 22, 2008
    Milwaukee, WI
    That's a huge generalization based on an isolated incident. I've banked with them ever since they merged with / acquired Firstar Bank. Never had a single problem.

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