Can my 20 year old brother w/ a checking acount cash my birthday check?

Question

i am about to be 16 in just days and my mom wants to keep my check and make me save it or make sure i dont spend it on bad things. i dont really mind what she thinks is right for my financial situation because i rarely get money. its 75$ and i know i can retrieve a medical card of my own and he has a checking acount and a license. will this work? if so how? probably going to krogers/walmart or a better advised place.

Answer 1

Unless your brother is your legal guardian, the answer would be no.

Your mom should also know that a check becomes "stale" after 6 months (no longer cashable). If she holds the check 6 months or longer it will be worthless.

"§ 4-404. BANK NOT OBLIGED TO PAY CHECK MORE THAN SIX MONTHS OLD.

A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six months after its date, but it may charge its customer's account for a payment made thereafter in good faith. "

Source:

http://www.law.cornell.edu/ucc/4/4-404.h...

I'd ask if she would open a (no fee) "Uniform Transfer to Minors Act (UTMA) account on your behalf, and have the account be "plated" until age 21.A bank will know how to do this for you and your mom.

http://www.finaid.org/savings/ugma.phtml

Your mom can still have "control" until you are say 21, which when you are older you'll be glad she did this, cause you have money when you will need it more.

AND you can have anyone put money in the account (YEA!) Birthday, holidays, etc.

You can also ask for $20.00 now and save the rest.

Just don't let that check sit out there for 6 months or longer.

Answer 2

Listen to your mom!  It sounds like you're just going to blow it on stupid stuff.