A word of warning

[Concerned J]

My Mum (77 with Vascular Dementia & Alz) was using a cashpoint at the supermarket the other day. A couple of lowlifes(don't know how else to describe them) were standing very close by. Mum has trouble remembering PIN so has it written in diary!! She got the PIN wrong and as she cancelled the transaction the card was returned and instantly whipped away.

Fortunately my Uncle was nearby and gave chase. The police & bank were excellent in their prompt help and no lasting harm done.

My biggest concern (other than Mum's safety) was the amount of money in Mum's account. I have since transferred most of her money to a savings account so that should anyone get hold of her card there would only be £100s in the bank instead of £1000s .

I had never really thought about money accumulating in the account (Mum gets far more pension than she needs) but be aware how vulnerable loved ones money can be in the wrong hands.

 

[looviloo]

Hi, I read your post yesterday but didn't have time to respond... I'm in a similar position at the moment, and currently trying to register POA with dad's bank. Dad has always been good with money, so it never occured to me that his current account might be excessively high, or that he could be putting himself (and his hard earned savings) at risk every time he withdrew some cash. But that's what I found when looking at his statements for the first time. It's clear to me now that he has no concept of the value of money anymore, and doesn't even realise how much has accumulated in the account. Thankfully, it means more security for his future care, but also makes me sad to think that he lived so frugally when he could have been so much more comfortable :-/.

Anyway, I just wanted to echo your words of warning. I'm so glad your mum was ok and the situation resolved - it's all such a worry

 

[patsy56]

yes I know how bad that can be, mum has a three way account between her credit card and her current account, and savings. not sure how it exactly works but there is never more than £500 in the current account. Her pensions paid into savings a/c.

 

[Quilty]

My Mum was exactly the same and even the bank were worried enough to try to talk her into moving her money to a safer account. She refused point blank. After another lost set of card and a sleepless weekend for me I now have her accounts online so I can see transactions and mum works on a cash only basis.

There are people out there who will target the vulnerable so assume the worst and plan accordingly.

 

[joggyb]

My Mum (77 with Vascular Dementia & Alz) was using a cashpoint at the supermarket the other day. A couple of lowlifes(don't know how else to describe them) were standing very close by. Mum has trouble remembering PIN so has it written in diary!! She got the PIN wrong and as she cancelled the transaction the card was returned and instantly whipped away.

Fortunately my Uncle was nearby and gave chase. The police & bank were excellent in their prompt help and no lasting harm done.

My biggest concern (other than Mum's safety) was the amount of money in Mum's account. I have since transferred most of her money to a savings account so that should anyone get hold of her card there would only be £100s in the bank instead of £1000s .

I had never really thought about money accumulating in the account (Mum gets far more pension than she needs) but be aware how vulnerable loved ones money can be in the wrong hands.

Do you have PoA over your Mum's finances? If so, you could ask the bank to put a cap on her withdrawals and cheques, e.g. £100, or whatever amount you're comfortable with.

 

[Isabella41]

I didn't know you can ask a bank to put a limit on withdrawals. How does that work.. Is a daily withdrawal or a set amount in a month. Do they then flag it up to the POA if the person is trying to withdraw large sums.

 

[Concerned J]

Hi all,
Thank you for taking the time to read and comment.

I do have POA for finances and also fortunately before Alz really set in we arranged for me to have access to Mum's bank account. I can access it all on line and shuffle money between accounts as necessary. To me it feels like I'm invading her privacy and taking over her life even though common sense tells me that this is our reality now.

As my thread title suggested I wanted to make sure all you lovely people realise our Mums, Dads & Spouses are vulnerable. Thank you

 

[teahound]

Hi, Maybe you could try a chip and signature card for your mum, that way she wouldn't have to remember a pin number. I'm glad the police and bank were good. It's horrible that there are people who do things like that. Glad your mum is ok.

 

[joggyb]

I didn't know you can ask a bank to put a limit on withdrawals. How does that work.. Is a daily withdrawal or a set amount in a month. Do they then flag it up to the POA if the person is trying to withdraw large sums.

I suspect it depends on the bank. My dad's bank were prepared to limit his withdrawals, cheques, etc to whatever amount I chose, and to alert me directly if there was any untoward activity on his account.