Opening a new savings account with POA

stag18

My mum has POA for my grandad who is 88 and in a nursing home. He has over £50k with the Halifax so she wants to move some money to a different bank. Natwest say my grandad will have to sign the forms but he has dementia and some days are good and some are bad. It is very difficult to explain things to him. Is there a way my mum can open a new savings account for him without him having to sign. She needs to be able to access the money if she needs to.:huh:
Any help would be appreciated as it took mum 2 hours to get an answer at Natwest yesterday.

Robert_Sterling_3

What answer did she get after two hours.

stag18

As I said, they want my grandad to sign the account opening forms. She is looking for a bank that will let her open a new account for him just using POA and without him having to sign the forms. I want to try and save her even more time wasted in banking halls.

Nick_C

Mum's signature should be good enough - POA gives her the right to act on grandad's behalf.

stag18

Thanks Nick. My mum even had the POA registered at the Court of Protection last year as my grandad became incapable of dealing with his own affairs but Natwest said they would have to visit him in his nursing home to get his signature. I've told her to visit an alternative bank tomorrow.

Be_Happy

Really think Nat West is talking absolute rubbish.

I've recently taken out POA for my sister. I've moved her money around to get best rates and a new current account and have never been asked for her signature. Have had to hand in POA for copying and, in the case of HBOS, have had to wait 3 weeks while it was authorised at their POA centre, but there has been no problem.

Surely point of registered POA is that person concerned is unable to handle their own financial affairs.