Banks

[lensgirl]

hi

Me and my sister are my nans attorney and we have an LPA for both health and wealth. To safeguard her from any fraud, is there a way that we can stop her being able to withdraw large amounts of cash or making large payments, without us agreeing to it? Nothing untoward has happened but I would like to protect her as much as possible

Thanks

 

[Bunpoots]

Hi @lensgirl

You'll need to register your LPA with the bank then discuss the problem with them. You may be able to limit the amount she can draw out on her card at one time. I know some people have opened a separate account and moved most of the money into it to stop the PwD spending too much or giving their money away to all and sundry.

Another trick is to scratch off the 3 digit number on the back of the card which will stop any telephone payments.

I'm not sure if you can force the bank to ask for your agreement unless your nan has lost capacity to deal with her own finances and you take over completely. It's a tricky stage!