What are people's experience with banks and LPA. I recently had wanted to register my fathers LPA at his bank so that I could assist when needed (he is still ok to shop with his card and pop into the bank if he needed to). After saying that he had Alzheimer's I was told that if LPA was registered, and Alzheimers recorded on his file, then the bank would have to take away his card and he would not be able to have any control of his account. I do understand why, but it's really not necessary yet ! Feeling very frustrated because had I not mentioned Alzheimers it would have been fine !
LPA
- Thread starter Daisy chain
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Hi Daisy, welcome to TP
Banks, building societies and al the rest seem to take a different view. When a person lacks capacity the affairs should be taken over by an LPA or CoP deputy.
Once you use the LPA with the bank then they will deal with you.
Either he has capacity in which case he can carry on using the account and you shouldn't be using the LPA or he doesn't have capacity in which case the Banking Act means they can't deal with him. You can't have it both ways.
That said some people do come to an arraignment with the bank, usually where the manager knows the people concerned but how many of us still live a world where we still have a personal relationship with the bank manager? I haven't been in the bank where my account is for years.
I nearly got my mother's account frozen a few years ago, although the bank was English originally it had been taken over by a Scottish bank and when I phoned the call centre they kept quoting Scottish law and insisted I had to have a "continuing and welfare powers of attorney" which we don't have in England.
K
Banks, building societies and al the rest seem to take a different view. When a person lacks capacity the affairs should be taken over by an LPA or CoP deputy.
Once you use the LPA with the bank then they will deal with you.
Either he has capacity in which case he can carry on using the account and you shouldn't be using the LPA or he doesn't have capacity in which case the Banking Act means they can't deal with him. You can't have it both ways.
That said some people do come to an arraignment with the bank, usually where the manager knows the people concerned but how many of us still live a world where we still have a personal relationship with the bank manager? I haven't been in the bank where my account is for years.
I nearly got my mother's account frozen a few years ago, although the bank was English originally it had been taken over by a Scottish bank and when I phoned the call centre they kept quoting Scottish law and insisted I had to have a "continuing and welfare powers of attorney" which we don't have in England.
K
We registered LPA with the bank...and there was no mention of OH cards being taken away. Maybe it depends on the bank?
Well I had arranged LPA for both my parents as they had wanted assistance with their banking. I was able to register my mums with the bank no problem, the bank understand that some times elderly parents just want help from a family member, and may sometimes not be able to get to the bank. My point is that my fathers does still have capacity but the bank would not accept that because I said he'd been diagnosed with Alzheimer's! I don't want it both ways! I just want to able to assist just like they're allowing me to for my mother.
When filling out the forms for the LPA there is a section that deems when the LPA can be activated. The default setting is when capacity is lost however if specified it can also allow the Attorney to be involved before lack of capacity. If not specified then it really is down to each individual bank.
I totally understand but if the LPA does not say it can be used before capacity is lost the banks are actually doing the correct thing.
This is relatively new, with older LPAs it required an additional clause.
Since LPAs were introduced in 2007 there have been many changes to the format, I think this adds to the confusion of bank staff in trying to understand LPAs.
When I registered my wife's LPA with Lloyds the lady went through each account/card and asked if it was just me or me and my wife that could take various actions. My wife was present and not objecting to anything I said even though that meant I was taking total control. Capacity was not mentioned.
I totally understand but if the LPA does not say it can be used before capacity is lost the banks are actually doing the correct thing.
LPA states 'as soon as my LPA has been register' ( with office of public guardian ) and not the other option which is 'only when I don't have mental capacity'. This option was chosen as it states that attorneys can only act with your consent, and later when capacity is lost. So I can't see that the bank are doing the correct thing.
I totally understand but if the LPA does not say it can be used before capacity is lost the banks are actually doing the correct thing.
The LPA does state that it can be used as soon as registered (with OPG). So the bank is not doing the correct thing are they
OK
Your LPA gives you the power to act without any reference to your father's capacity.
However banks have a duty to act in the best financial interests of their clients.
If they suspect incapacity to handle financial affairs this may lead to freezing of access to accounts.
It was fine until I said that he had Alzheimer's. He said that the fact that I said he had Alzheimers meant that if I registered LPA with them would mean that they would take his control away. There was no reason to suspect incapacity, it was purely based on the fact that I had said he had Alzheimer's.
If you want to be able to administer your father's accounts without restricting his access enquire about third party access. This would mean that your father authorised you to take defined actions on his accounts. You may have already blocked this method by inferring that he might not have capacity to grant this authority.
When filling out the forms for the LPA there is a section that deems when the LPA can be activated. The default setting is when capacity is lost however if specified it can also allow the Attorney to be involved before lack of capacity. If not specified then it really is down to each individual bank.
Yes and 'as soon as my LPA has been registered (and also when I don't have mental capacity ) has been selected. But the bank said that if dad has Alzheimer's and I want to go ahead with registering with them then they will take away all control he has . He has capacity put bank told me that because he has Alzheimer's then that's what they do. Seems very wrong.
