Payments should show that they come from the donor.
Try sending a concise, factual email to the CEO
http://www.ceoemail.com/s.php?id=ceo-10484
Try sending a concise, factual email to the CEO
http://www.ceoemail.com/s.php?id=ceo-10484
Banking problem
- Thread starter nitram
- Start date
I have the same problem with my mum's Premium Bonds statement. NS&I refuses to see why it's a problem and apparently it 'cannot' be done differently. Computer says No. 
Also, transfers between her 2 BOS current accounts show as payments to me, even though I am the second-named account holder on these joint accounts. I think the bank's computer must take our surnames in alphabetical order.
Also, transfers between her 2 BOS current accounts show as payments to me, even though I am the second-named account holder on these joint accounts. I think the bank's computer must take our surnames in alphabetical order.
If they can't fix it, I'd close the account and go to another bank that can. And tell the CEO why...it might help someone else.
It's amazing how much variation there is with different banks and how they handle POA issues.
It's amazing how much variation there is with different banks and how they handle POA issues.
Sarby, you need to find another bank....and tell them blankly why you are leaving.
The problem is a generic problem. There are no guidelines or best practice to follow when dealing with POA (power of attorney). Each bank is left to do things as they deem fit. Some are obviously better than others.
What I don't like is when they fail to protect the vulnerable person. Some financial institutions do not give me direct access to my parents accounts (even though I am a registered POA), so I have to log on as them. So there is no accountability. I could transfer money to a 'david cameron' account (to avoid tax) but because in theory I logged on as my parents I could deny everything. A fraudsters paradise.
The problem is a generic problem. There are no guidelines or best practice to follow when dealing with POA (power of attorney). Each bank is left to do things as they deem fit. Some are obviously better than others.
What I don't like is when they fail to protect the vulnerable person. Some financial institutions do not give me direct access to my parents accounts (even though I am a registered POA), so I have to log on as them. So there is no accountability. I could transfer money to a 'david cameron' account (to avoid tax) but because in theory I logged on as my parents I could deny everything. A fraudsters paradise.
Sarby, it sounds like you have too much accountability....to such an extent that transactions refer entirely to you and have no mention of the 'donor'. I would have thought that the transaction should say 'Mr Sarby POA for Mr & Mrs Sarby senior'.
I have accounts where I have to log on as my parents to make transactions (even though I am a registered POA). When I make a transaction it is in my parents name, therefore there is no accountability, the system does not know that I am making the transaction. What should happen IMO is that I should get a separate log on in my name, and therefore any transaction would identify that I made the decision. Some institutions are better than others...there is no guidance from the regulators I suspect.
If you don't like a way a company does business then find one that does. If enough people do that - and the company is aware of why they are leaving, then possibly they will change their systems.
I have accounts where I have to log on as my parents to make transactions (even though I am a registered POA). When I make a transaction it is in my parents name, therefore there is no accountability, the system does not know that I am making the transaction. What should happen IMO is that I should get a separate log on in my name, and therefore any transaction would identify that I made the decision. Some institutions are better than others...there is no guidance from the regulators I suspect.
If you don't like a way a company does business then find one that does. If enough people do that - and the company is aware of why they are leaving, then possibly they will change their systems.
Try Nationwide - I have found them very polite and knowledgeable, and when I wished to close the account and move monies to just the one account there was no quibbling or hassle - which surprised me as I was ready to "fight" Like you do with POA's!! Was almost let down there wasn't one!!
