Third Party Mandate

Clara_Oswald

Hi,

I currently bank with NatWest, who offer a Third Party Mandate which authorises a specific person of your choosing to discuss your account / withdraw money on your behalf (obviously the bank won't take responsibility if the third party runs up debt in your name etc) but I'm considering switching banks.

I'm wondering if anyone knows which banks offer a third party mandate or similar -- I know Santander doesn't (and even if they did, I wouldn't touch them with a bargepole) and when I popped into my local Barclays branch, the cashier had no idea

If anyone can help, I'd really appreciate it -- thank you in advance

jonesMUFCforever

I would have thought all financial institutions have to have rules in place just in case.

Clara_Oswald

jonesMUFCforever wrote: »

I would have thought all financial institutions have to have rules in place just in case.

When they gave me the paperwork, it said they would not be held responsible for any unauthorised withdrawals or payments etc made by the third party while they were authorised as I would be giving the third party permission to access my account, and the branch employee did warn me to be careful about adding the third party on as I would be solely responsible for any charges incurred. So there are rules, but the rules say (in layman's terms) that I sign the paperwork authorising the third party, I take responsibility for their actions on my account.

Atidi

Clara_Oswald wrote: »

Hi,

I currently bank with NatWest, who offer a Third Party Mandate which authorises a specific person of your choosing to discuss your account / withdraw money on your behalf (obviously the bank won't take responsibility if the third party runs up debt in your name etc) but I'm considering switching banks.

I'm wondering if anyone knows which banks offer a third party mandate or similar -- I know Santander doesn't (and even if they did, I wouldn't touch them with a bargepole) and when I popped into my local Barclays branch, the cashier had no idea

If anyone can help, I'd really appreciate it -- thank you in advance

When I google 'third party mandate' it automatically gives me suggested options for natwest, halifax, hsbc, lloyds, barclays & rbs. I didn't check all the options, and there are probably more, but it looks like most offer this.

However, it's not something most bank staff would have come across during their day to day business and so, like with power of attorney, you will need to try and speak to a senior member of staff who might know about this.

YorkshireBoy

Atidi wrote: »

When I google 'third party mandate' it automatically gives me suggested options for natwest, halifax, hsbc, lloyds, barclays & rbs. I didn't check all the options, and there are probably more, but it looks like most offer this.

Add Yorkshire Bank to that list. They have something called 'agent to operate' and I have it on my father's account. I believe it's branch only and limited telephone functionality. You don't get online access (officially ) for example.

Clara_Oswald

Thank you both! RBS shares the same "back office" as NatWest, so I'd rather not bank with them either. Yorkshire Bank's nearest branch is over a hour away on public transport, sadly, but I'll remember that if I need to switch again and have moved house by then

Also, I'd looked on the Barclays website prior to posting here and the only third party mandates they appeared to have were for business customers

I'll pop into my nearest Lloyds, Halifax and HSBC branches next time I'm passing, but in your experience, do any of them have good customer service?

YorkshireBoy

Clara_Oswald wrote: »

Also, I'd looked on the Barclays website prior to posting here and the only third party mandates they appeared to have were for business customers

I've just googled "Barclays personal third party mandate" and found...

http://www.barclays.co.uk/Accessibility/Helpmanagingyouraccount/P1242623467565 (the 2nd of many hits)

You may wish to do the same and read the other information available.

Clara_Oswald

Ahhhh, I don't know how I missed that I've looked at the Lloyds website and they do third party mandates too, so will definitely pop into the Lloyds and Barclays branches to ask a few questions and gauge how helpful their customer service is likely to be

Thank you for your help!

jonesMUFCforever

Perhaps it might be better if you could divulge why this is so important to you - if you already have a bank account it might be possible to set it up now.

YorkshireBoy

jonesMUFCforever wrote: »

Perhaps it might be better if you could divulge why this is so important to you

According to a post on the credit card board, the OP has a hearing impairment and doesn't have a landline/text phone so they're looking to appoint someone else to act on their behalf (at least that's my understanding).

anna42hmr

Clara_Oswald wrote: »

Hi,

I currently bank with NatWest, who offer a Third Party Mandate which authorises a specific person of your choosing to discuss your account / withdraw money on your behalf (obviously the bank won't take responsibility if the third party runs up debt in your name etc) but I'm considering switching banks.

I'm wondering if anyone knows which banks offer a third party mandate or similar -- I know Santander doesn't (and even if they did, I wouldn't touch them with a bargepole) and when I popped into my local Barclays branch, the cashier had no idea

If anyone can help, I'd really appreciate it -- thank you in advance

Lloyds do (or did any way a few years back) as i had one set up when i went traveling for 6 months in case needed someone to sort something when i was away (got my mum to be the third party)