PoA and Banking - First Direct's approach

[Schiz]

Have you had a good or bad experience when registering a PoA with a UK bank?

Hello everyone.

I have Power of Attorney Finance & Property for my dear ma.

I've been dealing with her banking for a number of years and have now registered the PoA with First Direct so that I can do it officially.

It's been quite a painful process but I've finally been granted telephone access and have a debit card.

Great. But now I'd like to do it online. This is not possible unless:
1. I sign a declaration stating that mum is mentally incapable of doing her banking,
2. Mum's debit card is deactivated,
3. her telephone access is revoked and
4. her cheque books destroyed.

I feel this to be too black and white. All or nothing.

On the face of it you could say it's fair enough; either she's capable or she isn't. And in any case, who would want a lady with the free flight of dementia to have opportunity to spend frivolously.

But no. Mum couldn't tell you anything about her finances. But she'd happily - and with appropriate restraint - shop and pay with her debit card, or send a cheque to a friend to cover a lunch.

So the rub is: to adopt modern day banking with First Direct I must impose these restrictions on my mum. Clearly I won't - it would undermine her confidence and is way off my kindness register!

After some deep quizzing, First Direct ditched "policy" as an excuse stating that their systems force the restrictions. Fair enough. Honest. A bit daft. And hopefully my feedback will affect some change.

Have you had similar / better / worse experiences?

Thanks for reading!

 

[Beate]

My OH banked with Nationwide. I made an appointment with the appropriate branch, they copied the LPA and my ID, sent me a debit card and cheque book with my name on it in the post and would have helped me set up internet banking as well, except that it was set up already. "You know the login details? Great, all sorted then." They couldn't have been friendlier. No one asked for his card or cheque book back. Strange, First Direct is said to have such great customer service normally!

 

[Schiz]

Nationwide get a gold star!

I cannot fault the First Direct staff: they've been very helpful yet seem limited by their own systems and processes.

 

[2jays]

would have helped me set up internet banking as well, except that it was set up already. "You know the login details? Great, all sorted then."

This was my experience of their internet banking.

 

[jugglingmum]

My mum is with HSBC - she still has a debit card and cheque book but I have internet banking on her account.

When I logged POA (a while ago) one bank/building soc asked if she still had capacity, and I said yes. I queried why and they said she couldn't have ISAs with them if she didn't have capacity - no idea why not. HSBC have set up an ISA for her last month, with the account manager I deal with being aware of the situation.

 

[brambles]

My mum has a current account and savings account with Nat West and an ISA with Santander.
I had no problems registering the LPA with either of them and have debit cards and internet acccess. Mums cards and cheque book were not cancelled.

My mums LPA did not state the she had to have lost capacity for it to be used (I know some do) so this may have made difference.

 

[Sirena]

Halifax get a gold star too. I registered the LPA with them 3 years ago, made an appointment with an advisor and she couldn't have been more helpful. She spent nearly an hour with me sorting out various things and even helped me set up internet banking on the account.

She asked if I'd like my mother to continue to have access to the account. I said yes, because my mother could get cash out at her branch (the cashiers knew her and let her sign for it). So she kept a card and cheque book, I got a card and cheque book, they sent all paperwork to me at my address, I ran the account via internet banking and it all went smoothly.

I don't really understand why FD require her to revoke all access to her account in order for you to bank online. I do get the idea though that some financial institutions are asking for additional 'verification steps' nowadays which make our lives rather more difficult. My experience was over 3 years ago so I wonder if that applies to Halifax too.

 

[Schiz]

Hooray. Some sense at last.

First Direct have noted my concerns and have now said that they will ensure that mum's debit card is not cancelled.

They said that their concern was that as soon as I get online access they have to stop her telephone access (that's the silly system restriction bit) and this would mean she could not contact them to report her debit card lost or stolen.

They've now agreed that I can do that for her and therefore she can keep the card.
[Apparently mum's cheque books would not have been cancelled anyway - I was just told the wrong info.]