Grandparent with dementia - need to downgrade their current account

RhysD

Hi all.  My grandparent has TSB Platinum, which charges £20 a month for the privilege, but there is no need for her to keep this now as she lives in a home with dementia.  Her only income is her pension and her only expense is the home's fees. I would like to downgrade the account to TSB's standard current account, but I cannot see any easy way of doing this.  I can't really get her to call up as she is very confused and doesn't have very good hearing, and I can't take her into a branch either, especially with the current circumstances!  All suggestions welcome - saving £240/year would really make a difference so it would be great to get rid of this direct debit.  Thanks!!

NottinghamKnight

Assume there is no power of attorney or deputyship in place, in which case can you draft up a letter detailing that she wants to downgrade the account and get her to sign it, then posit it in.

PRAISETHESUN

It's probably worth informing TSB that she is vulnerable and getting the appropriate paperwork in order. You'll need to get some sort of POA/deputyship moving forward if there isn't already - which isn't an easy process when they have already lost capacity. The suggestion from @NottinghamKnight will likely work but I'd be wary of doing this - if you can get her to sign this, what's to stop someone else asking her to authorise a blank cheque or something?

Ergates

Speak to her bank and explain the situation and then ask them what you need to do.  They won't make any changes there and then, but should be able to guide you though whatever process is needed.

elsien

Does she have capacity to make financial decisions? If her capacity fluctuates then perhaps doing it at time when she is better able to understand might help otherwise getting her to sign a letter that she doesn't understand isn't the best way to be going on.  If she doesn't have a financial LPA then if she is able she should consider doing that now while she still can  - it will save a lot of stress further down the line. 

whitesmith

You could write a letter saying please downgrade... and get her to sign it.

NottinghamKnight

PRAISETHESUN said:

It's probably worth informing TSB that she is vulnerable and getting the appropriate paperwork in order. You'll need to get some sort of POA/deputyship moving forward if there isn't already - which isn't an easy process when they have already lost capacity. The suggestion from @NottinghamKnight will likely work but I'd be wary of doing this - if you can get her to sign this, what's to stop someone else asking her to authorise a blank cheque or something?

Acknowledge the principle but the vulnerable person is in a home rather than living independently so you would assume she should be protected from adverse outside influences. Deputyship once an individual has lost capacity is a long and expensive affair, and the deputy ends up wih potentially onerous liabilities and responsibilities. 

NottinghamKnight

whitesmith said:

You could write a letter saying please downgrade... and get her to sign it.

Echo, o, o, o?

whitesmith

Sorry - didn't see your post!

RhysD

Thanks everyone, I have spoken to TSB and they said she would either have to do this in branch or over the phone. Unfortunately, they said that we couldn't do a letter, they need the verbal confirmation for security. Not very helpful in the circumstances, but understandable from a risk of fraud point of view. Honestly, with the cost of a POA when someone has already lost capacity, I think the cheapest thing is probably letting this run as is... Oh well! Thanks all again 

jonesMUFCforever

How old is the grandparent?
If they will not accept a signed letter and the family member is over 80 they do not qualify for the travel insurance, do they drive? Is the mobile they may have worth insuring?
You could go down the missold package accounts with this.