Bank Security Processes and the Elderley- any thoughts

D1zzy

Just read the "HBOS are a disgrace" thread and its so reminiscent of the issues we have had recently with my Mum's banking.
She is 90 is fully compas if a little frail, and has recently moved into a carehome. She has banked with "Midland" and Halifax since the year dot and virtually all her banking is handled by direct debits set up years ago and the odd cheque she writes as gifts.

We had 2 issues recently - she wanted to change the address on her current account - We typed a letter, which she duly signed and sent it off to HSBC - they wouldn't accept it because the signature did not match their 60 year old sample ( although they have been accepting it on cheques for all of that time). We rang them and explained but they insisted on putting her through their security questions - with her deafness; a call centre agent with a strong accent, and her lack of involvement with current day to day banking practices (she has no idea what a pin number is let alone what the number is) - it took > 40 mins to get through and she was completely freaked out by the questions they were asking. Then to cap it all she was told she needed to register for telephone banking (why?) - memorable place memorable word, birth date again, etc etc - the whole process just about finished her off. All this just to change an address! Oh it was suggested that I get added as a signatory on the account - great idea - fill in the form and get her to sign it -BUT YOU WONT ACCEPT HER SIGNATURE.

Something similar with the Halifax when a £100 change to an inter account standing order - locked her accounts until they could vallidate that she had made the change by going thru the secuity process - Oh and she is not allowed any help to answer the questions.

Whilst I understand the banks need for caution - the security process caused her so much stress, were so beyond anything she had ever encountered, I I wonder how banks should be dealing with this sort of stuff with the elderley and infirm.

We will now get a POE processed so she doesn't have to go through this again, but it seems an extreme measure just to deal with Banks security and money laundering issues .

Lokolo

Ok so what would happen if some fruadster faked your mum's signature and withdrew £1k's?

What happens if someone phoned up pretending to be your mother to transfer money to someone elses's account?

-

You can easily change signature in branch with I.D. :rolleyes:

I wrote my first every cheque out and they phoned me to say signature doesn't match and if I still wanted cheque to go through, asked me security questions about the cheque (how much, who for) to confirm and then said I should go down to branch and change signature because it looks like an 11 year olds... of which I replied 'It most probably was', thanked him, went down to branch and changed it in 2minutes.

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Although yes I agree its a pain but its better to be safe than sorry

D1zzy

If only she could get to a branch there would be no issue..... Oh and she has no accepted ID - passport driving licence etc

I'm not saying there should be no checks, but they seem to be introducing more and more"check flags" - and that without assistance, there is no way she could have handled the questions - the concept of pins; memorable bits; and passwords means nothing to her, and I'm just wondering if the banks have given any thoughts to how difficult the process is for the very elderly, and could there be a simpler less stressfull way to validate

oxenryd

D1zzy wrote: »

If only she could get to a branch there would be no issue..... Oh and she has no accepted ID - passport driving licence etc

I'm not saying there should be no checks, but they seem to be introducing more and more"check flags" - and that without assistance, there is no way she could have handled the questions - the concept of pins; memorable bits; and passwords means nothing to her, and I'm just wondering if the banks have given any thoughts to how difficult the process is for the very elderly, and could there be a simpler less stressfull way to validate

As Lokolo said, it's a catch 22 situation.

Less security = another person could just phone and say they are your mother, change details, you'd then go mad (using this case as an example, not you personnaly) saying why isn't there more security.

More security (which is the case) = stressful situation for customer.

I don't think there is an answer to this issue.

CLAPTON

set up internet banking for her and run it for her.

formally obtain power of attorney (will take ages so start soon)

D1zzy

Already did that - thats when we fell foul of the "we need to call you to make sure its you" - because we made a £100 change to a standing order that transferred money from her savings account to her current account. Accounts got locked until they could contact her - then security stuff....

(anyone would think that banks took care of yr money.....!)

Mikeyorks

Post #5 is spot on. Precisely what I did for my Mother in not dissimilar circumstances - and when I was completely revising her finances following the death of my Father.

flossy_splodge

D1zzy wrote: »

If only she could get to a branch there would be no issue..... Oh and she has no accepted ID - passport driving licence etc

I'm not saying there should be no checks, but they seem to be introducing more and more"check flags" - and that without assistance, there is no way she could have handled the questions - the concept of pins; memorable bits; and passwords means nothing to her, and I'm just wondering if the banks have given any thoughts to how difficult the process is for the very elderly, and could there be a simpler less stressfull way to validate

I couldn't agree more! My father is 87, deaf in both ears (won't wear hearing aids), infirm but also totally out of touch with even vaguely modern practices.
We are lucky. He banks with Yorkshire Bank and they have been brilliant. They arranged for me to have a 2nd debit card on his account (with his agreement of course) and bendover backwards to help whenever we need them. They may not pay good interest but I can tell you it's worth it for the ease they bring in facilitating the things we need to do.
It has meant we haven't had to go down the POE route yet!:eek:
best of luck.:T

Mikeyorks

D1zzy wrote: »

Already did that - thats when we fell foul of the "we need to call you to make sure its you" - because we made a £100 change to a standing order that transferred money from her savings account to her current account.

Don't understand that. All my Mother had to do was register her Halifax current account for online Banking (over the 'phone and with prompts from me). At that point I took over - added her other accounts to the Portfolio. And then set up some Websavers, a couple of fixed term deposits and a Regular Saver. Then aborted a Liquid Gold account she had, prior to which I cancelled an SO from that account and set it up from her new websaver instead. In order she got the 6% then offered on the current account.

Not a murmur from Halifax ... other than advisory letters to her for each new account established and when the SO was cancelled / established?

D1zzy

Yep - been doing that 4 a few years then suddenly - having made ths SO change get the on screen message that they will phone to validate, and accounts are locked until they have done so. To cap it all the phone number on the account is her old one - but you can change it on line - OOps sorry "system error" - so couldn't change it without phoning HBOS (security questions) . Also as the accounts are locked you can't get at the details to check for the answers to the security questions. - Nightmare.

Seems to me that security checks have suddenly increased - wonder why.......

James

You could get your Mum to try this techniquie.

Ask your Mum to authenticate here Signature with her print.

Details on the link below:

Click here.