Advice on banks which will set a daily ATM limit?

Rosie56

Registered User
Oct 5, 2013
75
0
A money card could be the answer. I would dearly like to use one for my mum so that her carer could do the shopping with it - then we could have her pension transferred to the bank instead of her going to the Post Office and hiding cash all over the place. At one time I was really hopeful that the caring agency would agree to let the carer have a Lebara money card (which doesn't allow any access to Mum's main bank account) but they have refused. It pees me off because a money card would be so much better in so many ways, and would mean that if Mum got into a flap wondering where money had gone, the carer would be protected and safe from accusations. But no.... :mad:

Anyway. It might be the answer for your mum.
 

jenniferpa

Registered User
Jun 27, 2006
39,442
0
Nmintueo - the one with the black horse!

I'm wondering - was this an over the counter limit rather than via the atm? Because I think it's possibly to set up an over the counter limit, but the OP wanted to be able to limit ATM withdrawals.
 

TitianTop

Registered User
May 10, 2014
4
0
Basic accounts

Hi I had similar problem with my husband and also the bank would not lower the amount that
could be withdrawn. I tried scratching the card but he got really upset when he couldn't get money
out. The solution I came up with was to open a savings account which operated with a cash card.
The maximum that could be withdrawn was the balance that was in that account. I simply
transferred a small amount into the account as necessary. Hope this helps

I have set up a separate basic account for my husband which I keep topped up so he has access to cash and I have taken away his card and cheque book for our joint account. This protects us from losing everything when he is persuaded to invest in some financial scams peddled by utter b*******ds who telephone when I am out. Recently I was able to interrupt an 'investment' that would have cost £111,000. What can be done about these unsolicited calls to vulnerable people and their families?? The TPS is nearly useless.
 

Fierdashleo

Registered User
Oct 19, 2014
2
0
Isle of Wight
Lpa

It's vital to get an LPA in place if your mother wants one.

Remember that a person can only sign one while they have capacity to do so; it will be registered and can be used whenever it is needed after that. Your mother may not need an LPA yet but you don't have to use it until and unless it's needed. Speak to a solicitor who advertises their expertise in this area - don't hang about! Even though you must be very busy, this is important and will save you and your mother hassle, grief and money.
 

SandsOfTime

Registered User
May 8, 2014
2
0
Thought I'd jump on here rather than create an identical thread. Having the same problem.........mum taking out cash and a lot of it supposedly "vanishing".

Was hoping that there would be some kind of way of changing and limiting withdrawals on an account. It's a bit of a disgrace if there isn't, especially taking into account that the current government was 'pledging to make people more dementia aware' back in 2012.

Extra problem for us is that my mum usually makes withdrawals in bank which can total hundreds of pounds (not sure if there is even a limit). So it's possible that a lot of money can 'disappear' quickly before it being noticed.

Currently looking at LPA (may post a thread about that soon), but even so. I don't think that would help with the withdrawal limit and keeping my mum as independent as possible for as long as possible.

What do people think? It seems like the only way would be to get an LPA and transfer all the money into another account and then feed back in (maybe set up an on-line transfer) a weekly amount?
Nothing is perfect, but bearing in mind the incompetence of most banks this seems like the best way to do it.
I would of course have to be wary about overdrafts and charges.
 

hillymilly

Registered User
Nov 29, 2012
19
0
Paignton
Stopping scam calls

I have set up a separate basic account for my husband which I keep topped up so he has access to cash and I have taken away his card and cheque book for our joint account. This protects us from losing everything when he is persuaded to invest in some financial scams peddled by utter b*******ds who telephone when I am out. Recently I was able to interrupt an 'investment' that would have cost £111,000. What can be done about these unsolicited calls to vulnerable people and their families?? The TPS is nearly useless.

This is the first time I've posted on here, but I wanted to let you know what Ive done for my mum.

I've set up TrueCall for her, a call blocking system. It cost about £120 but has already paid for itself ten times over.

It's brilliant, as you can stop any scam calls, and you only get trusted callers coming through. It's much better than TPS. I had to set up caller ID first. She has a problem with using her ansaphone/flashing lights, so I've set it so that there are no flashing lights. I've given her a very simple "crib sheet" to tell her what to do every time she comes back in and wants to know who's called her. I am now her "operator" as she is always trying to find out phone numbers for random people she's befriended.

You can set up all the trusted callers, and it's easy to use TrueCall's website to see what calls have been received, as well as the ones dialled out.

Mum constantly used to get calls from dodgy call centres asking her to give money etc, etc, and this has now all stopped.

Hope this helps.
:)
 

Pickles53

Registered User
Feb 25, 2014
2,474
0
Radcliffe on Trent
Currently looking at LPA (may post a thread about that soon), but even so. I don't think that would help with the withdrawal limit and keeping my mum as independent as possible for as long as possible.

What do people think? It seems like the only way would be to get an LPA and transfer all the money into another account and then feed back in (maybe set up an on-line transfer) a weekly amount?

Nothing is perfect, but bearing in mind the incompetence of most banks this seems like the best way to do it.
I would of course have to be wary about overdrafts and charges.

I think in a way you have answered your own question; if you can get LPA then you can re-arrange accounts to keep things safer. If you raise this with the bank in any other way, there is a risk they may just decide to freeze the account. You are taking a risk too if you operate anyone else's account without LPA. I knew mum's PIN for years and she used to ask me to go to the ATM for her but I was very reluctant to do it. Our initial solution, before POA, was to pay everything possible either by direct debit or cheque as I could write the cheque for her to sign, and to close her two credit card accounts completely.

We were lucky that she had a complete abhorrence of people trying to sell stuff at the door or over the phone so was less at risk from scams.
 

fizzie

Registered User
Jul 20, 2011
2,725
0
I agree with everyone about the LPA but while you get it sorted I would just remove the card...you can't really take the risk and you can just say it is going to take a few weeks to sort it out with the bank. Sometimes little white fibs make the world go round...especially the world of dementia
 

Beate

Registered User
May 21, 2014
12,179
0
London
Quite right - sometimes the need to safeguard someone's money takes precedence over their need for independence. If someone draws out large sums only to lose them, you have to act and act fast. If that means temporarily taking someone's debit card away then so be it.
 

cazened

Registered User
Jan 31, 2012
3
0
My father has had alzheimers for $ years and i was advised early on, perhaps after a year to get power of attourney. Perhaps you could sujjest this to youe Mum and without taking her independence away you could have another word with her bank.
It is a worry but eventualy you will have to get power of attourney so get the ball rolling now. good luck.:)tikka 51
 

psbaker

Registered User
Aug 28, 2013
2
0
Poole, Dorset
Lowering the amount of cash a bank will allow a person to withdrawl

Hello everyone on this thread about trying to restrict the amount that a person can withdraw either from a cash machine or over the counter. Reading it made me think as my brother has recently withdrawn a larger amount than usual and I have no idea why. So I thought that I would speak to my local branch of his bank (we live 40 miles apart) and they could not have been more helpful. It may help that I've had an LPA for a few years but they immediately reduced the ATM limit to one of my choice and said that if I go to his branch the staff there will put a note on his account to contact me if he tries to withdraw an amount greater than a limit I can set. That, I think, is what everyone with this problem wants and the rearing black horse(!) bank has put my mind at rest.

Go for it and challenge your bank to follow their lead!
 

Sheepteach

Registered User
Sep 4, 2011
161
0
Somerset
Thank heavens for the bank with the black horse -I have found them very helpful in my dad's case. It also helps though that his local branch is very small - never more than 3 tellers at any one time, and whilst I have done Dad's banking I have also done my own at the same time so they are very clued up on who we are.
 

Alleycat

Registered User
Jul 28, 2014
1
0
Managing Bank Accounts

My sisters and I care for my Dad, we had the same issue he was running out of money. We then opened new bank account all his money gets paid into one which Dad does not have card for, we set up a standing order so that every morning Monday to Friday his 'money' for that day goes in, unfortunately you can not do this at weekends so we have to manually transfer then. We have found this is working brilliantly and Dad always has money every day and can not give any away as he does know what he needs, can go to cafe for his lunch etc. All his bills and any other requirements we then have the money there to pay for things. Because of this management of his money he has more if that makes sense. Hope this helps.

My first post - am hoping there's someone out there who can pass on words of wisdom!

Mum as been recently diagnosed with Alzheimer's, it's early days and she lives independently and is doing really well.

However, I've got some concerns about her money management - in that she has on a couple of occasions, withdrawn large amounts of cash from her account - most recently today - almost £300 in 5 separate ATM transactions. Not sure if this is memory, judgement or a determination to enjoy herself while she can! To be fair - i can and have talked to her about this and she's keen to find away to limit herself and she suggested not taking her cash card next time she goes to bingo.

I called her bank to explain the situation and ask for some general advice on how to manage this, and asked if they could reduce the daily ATM withdrawal amount to £100 to be advised that their daily limit is £350 and there's no movement on this.

I was really shocked at the lack of flexibility and wondered if anyone has any better experiences with other banks.

thanks
 

Lizziemint

Registered User
Aug 5, 2013
3
0
Gloucestershire
LPA is vital

My mother was diagnosed a few years ago. She is doing well and lives semi-independently. Before diagnosis my sisters and I were increasingly concerned as her memory got worse and, after some reluctance on her part, we got her to agree to LPA. This enabled me to talk to her bank and they agreed to put a limit on her daily amount to £50. She is living in a supported living house where all meals are provided and we could not understand what she was doing with her money. She was making frequent trips to the Post Office with her bank card. She now believes she can only get out £25 and seems perfectly happy with that. She is visiting the post office less and less.

Her bank is Nat West. They have always been very helpful.



My first post - am hoping there's someone out there who can pass on words of wisdom!

Mum as been recently diagnosed with Alzheimer's, it's early days and she lives independently and is doing really well.

However, I've got some concerns about her money management - in that she has on a couple of occasions, withdrawn large amounts of cash from her account - most recently today - almost £300 in 5 separate ATM transactions. Not sure if this is memory, judgement or a determination to enjoy herself while she can! To be fair - i can and have talked to her about this and she's keen to find away to limit herself and she suggested not taking her cash card next time she goes to bingo.

I called her bank to explain the situation and ask for some general advice on how to manage this, and asked if they could reduce the daily ATM withdrawal amount to £100 to be advised that their daily limit is £350 and there's no movement on this.

I was really shocked at the lack of flexibility and wondered if anyone has any better experiences with other banks.

thanks[/QUOTE]
 

jaymor

Registered User
Jul 14, 2006
15,604
0
South Staffordshire
I went into my bank today to draw out an amount larger than the limit set. The usual happened I was pounced on to ask if I would like to use a machine. I explained that I would have but I needed in excess of the limit. I was told to tell the cashier and she would up my limit. I could up the limit any amount up to £1500. She hired my limit there and then, not to £1500 I hasten to add.

So if they can put it up by the press of a button surely they can bring it down too.
 

AnneED

Registered User
Feb 19, 2012
80
0
East Yorkshire UK
Things I found useful with Mum (6 years since diagnosis)

A Power of Attorney is essential - mum had been diagnosed with mild cognitive impairment when we organised one but soon after it became vital for some things. Gradually I have used it with others.
Banks do vary. Mum kept her cash card and cheque book for some time but I was able to check what she had in her accounts and found that she had a large amount she had 'lost'. We had the problem of one bank (HSBC) immediately cancelling everything when the P of A was used, and making various other **** ups - so we moved the money to a Nat West saver type account that the P of A hadn't been used on.
Mum sadly was taken for a ride by 'callers' - on the phone and doorsteppers - twice - soon after we removed all her bank cards and cheque books. We realised she didn't remember how to use them in the machine at that point anyhow.
We used a BT blocking phone as it doesn't take much to get on to the books of some awful scam organisations who seem to circulate vulnerable people's numbers. Mum gets around 40-50 blocked calls each week despite us double blocking some of the numbers. Mum seems to have managed this by filling in some 'free competition forms'. We have now blocked all numbers except trusted friends as even the GP could ring mum and we'd never find out what she'd agreed to or needed to do. This was a gradual process as she became more disabled.
P of As take a lot of effort - companies still send mum info even now I'm her P of A! I'm still dealing with this - everyone (even her Co-op card) seemed to want a P of A before they'd even send a replacement card - I now don't bother if it's not important enough. Recently found all her house insurance info - sent to her. Some didn't return the certified P of A to me automatically (irritating!) so it's worth adding this to your letter.
Mum now has £200 in cash in her 'spare purse' topped up regularly - but still sometimes doesn't have money to pay for things as she hasn't remembered to put it into her everyday purse. Fortunately she only goes to places where she is known now. Mum was happy for me to help with her finances so now things are pretty much under control - internet banking helps!
 

Staff online

Forum statistics

Threads
138,118
Messages
1,993,122
Members
89,780
Latest member
Lindsay A