Easy Access Power of Attorney Accounts

mike88

Can anybody suggest an account for easy access? It need not be an account that gives instant access but I need to get at the money in the event that the NHS stop paying for nursing home fees.

Most banks/building societies make opening Power of Attorney accounts extremely difficult/prohibitive meaning that I am forced to place around £10000 in an account paying 1%. I've tried Saga for their internet saver this morning but this is not available in Power of Attorney format.

Any ideas anyone?

alanq

Coventry BS

"How do I open a savings account under a Power of Attorney?

To open or start managing an existing account under a Power of Attorney please contact our Customer Service Centre or visit one of our branches for specific help and advice.
You can open or operate any of our accounts under a Power of Attorney if that power is general, enduring or registered with the Court of Protection or Lasting and contains no restrictions. Where there are restrictions on how the power can be used then only passbook based accounts can be opened or managed under a Power of Attorney."


http://www.coventrybuildingsociety.co.uk/contactus/faqs/faqapplying.aspx

getmore4less

Any reasons you can't just use a standard joint account or have the money in your name?

dzug1

getmore4less wrote: »

Any reasons you can't just use a standard joint account or have the money in your name?

Legally that can be a recipe for disaster - accusations of misuse of cash are easy to make and difficult to refute. And the ownership of that joint account on death can be a minefield if other beneficiaries choose to make it so

As to accounts, Northern Rock don't appear to place many obstacles and have some good accounts

Internet accounts can be iffy - maybe not to run but to open in the first place, but you shouldn't have much trouble with a branch account - IF you can find the one person in the branch who has much idea about PoA