Can my parents legally keep my money and prevent me from having my own account at 18?

Question

I am 18 years old and initially agreed to have my paycheck deposited into my parents' savings account, but I have now decided that I would like my own account. My parents believe I might waste the money and insist that I keep the arrangement as it is. There is no written contract regarding this. Can they legally prevent me from getting my own account and keep my money?

James L. Arrasmith · Answer

You’re legally an adult now, and that means you have full control over your own money. Even though you originally agreed to have your paycheck deposited into your parents' account, that agreement doesn’t give them the right to keep your money against your will—especially without a written contract. You have every legal right to open your own bank account and to change where your future paychecks are deposited. 
 
Your parents might be worried about your spending, but their concerns don’t give them control over your earnings. If they refuse to return the money already deposited, you can request it in writing and keep a record of your communication. If they still refuse, you could take legal steps such as filing a small claims case to recover what’s yours. This isn’t about disrespecting them—it’s about standing up for your independence and your right to manage your own life. 
 
Start by opening your own bank account as soon as possible and speak to your employer about changing your direct deposit. You’ve earned that money, and you deserve to have full access to it. It’s okay to want control over your financial future. That choice belongs to you now.

Q: Can my parents legally keep my money and prevent me from having my own account at 18?