Hello, has anyone had experience of taking over a relative's finances and asking the bank to leave the online banking facility for the attorney's use? We are going to struggle if we tell Lloyds about the LPA and they automatically close down Mum's online banking.
LPA and online banking
- Thread starter SaraMW
- Start date
I manage my dad's account (same bank) and have online banking. I'm his deputy though , so don't know if that changes things.
One situation that can cause difficulties is when two or more attorneys have been appointed who need to act jointly for everything. The bank's computer systems are not usually able to manage that.
If that doesn't apply to you, you should be OK. Attorneys appointed jointly and severally can act idependently so that should be OK too.
If that doesn't apply to you, you should be OK. Attorneys appointed jointly and severally can act idependently so that should be OK too.
I have LPA for my MIL with accounts at Nationwide and Barclays. I have online banking with both of them and have never had any problems with either.
Lloyds were the most efficient for me. Nothing changed at all including on-line.
It is best to phone first to make an appointment take PoA and ID. Everything was copied and faxed to a dedicated unit (somewhere?). They then checked everything and 30 minutes later all was done.
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I have dealt with HSBC, LLoyds, Santander and Barclays regarding the POAs I currently deal with.
None of them have restricted online access and I don't see any reason why they should. They should all add a login for the attorney to give them full access and leave the donor's access as is.
HOWEVER, I will add a note of caution and have a little moan at the same time...
We found a dormant account my mother had at LLoyds but even though I have POA, they would not reactivate it unless my mother visited a branch personally, which she is not able to do. Luckily, there was only a very small amount of money in it so it wasn't a big issue and I decided not to make a fuss about it. If there had been a large amount of money in it, I don't know what I could have done.
We also found a dormant account at HSBC and they took the dormant flag off it no problem and gave me full access when I registered the LPA with them.
Santander won't issue a replacement debit card on my aunt's account unless she goes to collect it from her local branch, which she cannot do. They also will not issue a debit card to me, despite being registered as the attorney for her with them. Debit card issues with POAs have been highlighted before with Santander so they still don't seem to have sorted it yet.
The bottom line is that all the banks make up their own rules with regard to POA registration and access, so it is best to ask them what their registration procedure is and what access attorney(s) and the donor will have BEFORE registering the POA with them so you don't have any nasty surprises later.
None of them have restricted online access and I don't see any reason why they should. They should all add a login for the attorney to give them full access and leave the donor's access as is.
HOWEVER, I will add a note of caution and have a little moan at the same time...
We found a dormant account my mother had at LLoyds but even though I have POA, they would not reactivate it unless my mother visited a branch personally, which she is not able to do. Luckily, there was only a very small amount of money in it so it wasn't a big issue and I decided not to make a fuss about it. If there had been a large amount of money in it, I don't know what I could have done.
We also found a dormant account at HSBC and they took the dormant flag off it no problem and gave me full access when I registered the LPA with them.
Santander won't issue a replacement debit card on my aunt's account unless she goes to collect it from her local branch, which she cannot do. They also will not issue a debit card to me, despite being registered as the attorney for her with them. Debit card issues with POAs have been highlighted before with Santander so they still don't seem to have sorted it yet.
The bottom line is that all the banks make up their own rules with regard to POA registration and access, so it is best to ask them what their registration procedure is and what access attorney(s) and the donor will have BEFORE registering the POA with them so you don't have any nasty surprises later.
Different policies from different banks was what concerned me but since people seem happy with Lloyds we should be OK. It's such a shame that banks add to the difficulties families face by having these dementia un-friendly rules. It shows there is still a lot of work to be done to create dementia friendly communities where everyone recognises the contribution they can make. Thanks again everyone
I was my husband's Deputy and found Nationwide to be excellent. I had online banking for his account too.
Yes, and Lloyds seem to be on the right side in having made a fairly clear statement about that issue, too:
Power of attorney
http://www.lloydsbank.com/help-guidance/customer-support/power-of-attorney.asp
What an Attorney can do
• Access your account(s) online and by phone, should you wish.
• Access your account(s) online and by phone, should you wish.
Registering a Power of Attorney
http://www.lloydsbank.com/assets/media/pdfs/Lloyds_POA_M59468_0213_V2_web.pdf
I think Lloyds told us just the opposite before -- but that was a while back, when they were Lloyds/TSB, and we're joint attorneys, which could be a complicating factor.
Some older discussions --
Power of Attorney - Current Account - Online Banking
http://forum.alzheimers.org.uk/showthread.php?61268
Online banking for mum
http://forum.alzheimers.org.uk/showthread.php?44623
Interesting one.
When banks are oddly obstructive, customers do sometimes make headway if they're persistent -- e.g. this previous post.
Yes agreed. If a large amount of money had been involved, I would certainly have escalated it and in a funny way I almost wish that had been the case so I could have shown them the error of their ways!
Banks - a necessary evil
Can anyone offer me any advice - I live in Australia. I have joint LPA ( not several) with my brother who lives in UK on behalf of my Mum who lives here in a care home in Australia. Mum needs to lodge a bond with her care home here so we need the funds to pay this bond from a savings account held in NS&I. They have received a copy of LPA and also certified copy of my identity and address and I have written and explained our requirement. I have phoned 5 times now but cannot get past their switchboard - I am constantly put on hold whilst the person I try to talk to refers to "back office". It seems impossible to talk to anyone who can make decisions and explain the process I need to action this transfer - has anyone the contact details of someone higher up at the NS&I or maybe an email address?
Txs
Txs
