lasting power of attorney - advice needed

dzug1

littlemissbossy wrote: »

I have this problem with my in laws POA constantly, I try to avoid the bank and do everything on line if possible. I appreciate this isn't always practical though.

Santander don't allow internet access to PoA accounts. At least that's what the branch told me.

I've dumped them since.

bivvyman

Hi , When my mum was diagnosed with Altzeimers 4 years we took out a POA and with Barclays we both had control ie mum & me , when mum got worse I took her card and chequebook , told her it got lost , after a month she forgot she ever had a bank - perhaps sounds harsh but its practical especially as she was giving money to anybody who called .

Regards

flossy_splodge

bivvyman wrote: »

Hi , When my mum was diagnosed with Altzeimers 4 years we took out a POA and with Barclays we both had control ie mum & me , when mum got worse I took her card and chequebook , told her it got lost , after a month she forgot she ever had a bank - perhaps sounds harsh but its practical especially as she was giving money to anybody who called .

Regards

This is quite a worry isn't it.
I have 'authority to operate' from Yorkshire Bank so I tend to do the boring stuff but Dad still has full control if he so chooses but just last week I went with him to a cash point, helped him withdraw £150.00 and then yesterday he needed some cash and said he needed to 'get some cash out'.
I asked him what had happened to the £150 and he said he couldn't remember, he had used it to pay for something!!
I am reqally concerned as he has no idea who or what he paid, I pay all his bills and I cannot think who or what he has given money to.
It's really hard to try and leave him with his independance but protect him from 'losing' money.:eek:
Glad to read this post as I was about to transfer his ISA's to Santander but shan't now!:o

margaretclare

sky_lark wrote: »

I have just registered an LPA so that my daughter can take over my financial affairs should it be necessary in the future. I have also transferred all my ISAs to Santander and am horrified at what I have read about them on this forum re: LPAs.
I wish I'd read this thread before I transferred. I was talking to someone from the Office of the Public Guardian on a matter relating to my LPA yesterday, and he happened to mention that once the Power of Attorney is invoked then some banks, not all, do not allow the Donor ( in this case, me) access to his/her accounts.
So for instance, if I was involved in a car crash and required long term hospitalisation, say for several months or even a year, my daughter could activate her power of attorney and take over my affairs. However, once I had recovered, and be able to manage my affairs once again, it seems Santander would deny me access and I would lose the right to access my own money!!
This seems a ludicrous situation, if not illegal!
Does anyone know if the Financial Ombudsman has been informed that this is the practice of some banks, and is there any planned process for dealing with this?
Also, apart from Santander, does anyone know of other banks who operate this discriminatory policy, or better still, banks that don't?

ISAs are very easy to transfer, once you've found a bank that suits your purposes.