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Banking for elderly relative - POA problems
monkeyspanner
Posts: 2,124 Forumite
We have an enduring Power of attorney for my MIL so that we can look after her bank and other financial affairs. Due to the current financial turmoil we are looking to spread MIL's money over a handful of Banks/B Socs but the POA is proving an obstacle.
Our latest attempt to open a new account at Natwest was effectively blocked as their security rules require us to bring MIL into branch to confirm her wish to open an account. They were deaf to our assertions that the POA should be sufficient and that the reason for us having a POA was because MIL could not attend to these matters personally.
Lloyds TSB have been very helpful and have not placed barriers of this kind in our way. Abbey have been very unhelpful and we have parted company with them. Bradford and Bingley have in the past been fine but we need to reduce our exposure and will have to see if they adopt the same attitude as Abbey when the transfer of B&B's savings business to Banco Santander (Abbey's parent company) is completed.
If anyone has experience of a bank which is helpful in this situation we would be grateful if you could let us know.
Our latest attempt to open a new account at Natwest was effectively blocked as their security rules require us to bring MIL into branch to confirm her wish to open an account. They were deaf to our assertions that the POA should be sufficient and that the reason for us having a POA was because MIL could not attend to these matters personally.
Lloyds TSB have been very helpful and have not placed barriers of this kind in our way. Abbey have been very unhelpful and we have parted company with them. Bradford and Bingley have in the past been fine but we need to reduce our exposure and will have to see if they adopt the same attitude as Abbey when the transfer of B&B's savings business to Banco Santander (Abbey's parent company) is completed.
If anyone has experience of a bank which is helpful in this situation we would be grateful if you could let us know.
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Comments
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http://forums.moneysavingexpert.com/showpost.html?p=14542837&postcount=9
No need to be present for any of those.0 -
Also whilst Sainsbury's is part of HBOS, it counts as separate for the £35 k side of things.
Not sure what's going to happen re LTSB and Halifax, now LTSB are taking HBOS over.0 -
sloughflint wrote: »Also whilst Sainsbury's is part of HBOS, it counts as separate for the £35 k side of things.
Not sure what's going to happen re LTSB and Halifax, now LTSB are taking HBOS over.
So Sainsbury's bank has a separate FSA registration? I haven't heard what the LloydsTSB/HBOS registration plans are.
Incidentally I did hear on BBC that Bradford and Bingleys separate registration was likely to disappear. But that doesn't stack up with the line they were giving out in B&B today in order to try to maintain deposits.
Anyone know anything about credit unions?0 -
Credit Unions
No idea what they'd be like for dealing with a PoA, or the FSA limits! But I'm sure the FSA limits will be dealt with on that site.
Signature removed for peace of mind0
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