Cheque Clearing Process - Different Banks

Vortigern

HUMBUG wrote: »

Yes I have LPA but the banks informed me that I am still not allowed to manage accounts online.

I have an LPA registered at Halifax for an elderly relative. I have full online access, a chequebook with <myname> as attorney for <relative> and a debit card with my name on it.

You need to make an appointment with Halifax to set this up.

The only block would be if the LPA requires two or more attorneys to act jointly, rather than "jointly and severally". In that case you would not get online access.

mgdavid

HUMBUG wrote: »

Yes I have LPA but the banks informed me that I am still not allowed to manage accounts online.

One bank or more than one bank?
You need to change bank! (see other poster's experiences).


But I still don't understand - surely you can write out one of your mother's cheques and sign it yourself and give it to the payee (tradesman etc) ?

HUMBUG

Fiona_CW wrote: »

That seems odd. My mother managed my grandmother's accounts online for her for the last few years before she died and has recently got LPA for her aunt who is now in a nursing home and manages her bank accounts online

Yes , some banks seem to have different rules see link below. It's a real pain having to visit the branches to sort out financial matters.

https://www.moneywise.co.uk/news/2018-07-23/power-attorney-blocked-major-banks

I will visit TSB and Halifax and double-check again whether I can have access to online accounts using LPA.

HUMBUG

mgdavid wrote: »

One bank or more than one bank?
You need to change bank! (see other poster's experiences).


But I still don't understand - surely you can write out one of your mother's cheques and sign it yourself and give it to the payee (tradesman etc) ?

I have LPA but not registered it at the banks yet. Would they require my mother to attend any meeting? She is housebound at this moment in time?

aj23_2

AndyPK wrote: »

you really shouldn't be using cheques to do this.
Some cheques can take 28 days to clear if the system flags are problem.


Use internet banking to set up a transfer

28 days? That's a new one.

aj23_2

No one has probably recognized that you're dealing with an older person who might not have internet banking and wouldn't know how to ask for a bank transfer (i.e. knowing account details) or getting to the branch. A Cheque for many people in many circumstances is the most viable option.

As far as I know, Santander is definitely doing next day clearing, has done since September 2018. TSB for example, has rolled it out in some branches, but not others. You just have to ask your bank if they have or not.

Brewer20

^^^ I found it's a far speedier process now. Cheque paid in via PO to First Direct hits the account now easily in 2 days.

mgdavid

HUMBUG wrote: »

I have LPA but not registered it at the banks yet. ........

Well, there's your problem !
It's a shame you're drip-feeding us information.... it doesn't help you get quick, clear & accurate answers...

Vortigern

HUMBUG wrote: »

I have LPA but not registered it at the banks yet. Would they require my mother to attend any meeting? She is housebound at this moment in time?

You need to make an appointment to set up your access to your mother's account. Emphasise that it's to register an LPA at the bank and ensure you get somebody who's dealt with one before. You'll need to take the original LPA document and two proofs of name and address for yourself and your mother. They may ask if your mother can attend the meeting. You can say that she is unable to attend and that's why you need PoA.

They will copy your documents and return them to you. The appointment will take about an hour.

danthemoneysavingman

The cheque clearance period can vary dependent on the amount.
Some banks choose to make the funds available the next day, some do not.
£5k would likely be above any such instant cashing threshold in my experience, but no one can guarantee you what the timescales are, not on an open forum at least.

So whilst it looks like you just made this horrendously clunky rather than paying the tradesman with a cheque from her (surely the way forward next time round!), you shall just have to wait and see.

Hope it works out for you!