Buying Premium Bonds

Deckie

Yes that’s correct for LPAs registered on or after 17 July 2020, mum’s was issued in 2015. Apparently the OPG is working on digitally sharing earlier LPAs.

cannugec5

I have POA for an elderly neighbour with dementia. I’ve had to send numerous copies of the documentation to different entities. I scanned the original certified copy myself and have sent it both physically and digitally. The few that needed the original document have been quick to return it to me after they have made their own copy. 

I’ve not had to pay out a penny for any copies. 

Deckie

Thanks Cannugec5, I’ve come across various entities that only require an emailed copy of the original but NS&I are particularly strict, probably for good reason. They insist on nothing less than either the original or a copy certified only by a solicitor (or by a notary which is the same thing). I will be sending them the original. The OPG say they will send an additional copy for £35 if you ask them to even though it’s officially only supposed to be sent when the original is lost.

elsien

Will they not accept copies certified by the person themselves? 

Deckie

They will but the certifier must write at the end of every page of the copy:

“I certify that this is a true and complete copy of the original Power of Attorney belonging to [name].” Then sign it.
There are 15 pages in all and Mum isn’t capable of doing this now due to failing eyesight and dexterity.
I’ve now sent them the original LPA which they returned quite quickly and I have the account set up. Unfortunately, I can’t buy and cash in PBs online like I can on my account because they say it’s the wrong type of LPA to do that. Apparently I can buy PBs by bank transfer and I’m looking into the possibility of cashing in using the online form on her behalf.

elsien

You write it and she signs it? 

Thrugelmir

Why are you buying your mother PB's?  Surely fixed term savings accounts would provide her with a better return. 

Deckie

It appears PBs give a better return with today’s low interest rates, even fixing the term for several years. The difference is just a fraction of a % and at least with PBs there’s a chance of a big win (however unlikely). Over the past year my total PB prizes have worked out at 1.13%. Can you recommend a better fixed term savings rate?

Deckie

elsien said:

You write it and she signs it? 

That would be the ideal, the guide says it has to be written by the certifier but I don’t know whether that’s a rule or whether they would know I had written it instead…

The certifier must write at the end of each page of the copy:

“I certify that this is a true and complete copy of the original Power of Attorney belonging to [name].”

Then the certifier must sign and date the copy, print their full name under their signature (affixing any relevant official stamp) and add their occupation, address and daytime phone number. If they have lived at that address for less than three months, they should also give their previous address. Members of professions should also give their institute membership number, if possible. Under anti-money laundering legislation we may verify their identity using this information.

So all that has to be written 15 times. Mum wouldn’t be able to do this with her eyesight, I had to check with the OPG whether her signature on the LPA would be accepted as it was illegible and went outside the signing box.

Agent_C

We got a copy of the LPA certified by a local solicitor and they only charged £10, so it might be worth phoning round. It still took a long time to set the account up, but it's linked to my PB account so I can manage both online.

It was a different story with Cynergy bank who kept asking me to send in more information then saying it wasn't enough, failed to return all the documents and then mistakenly closed the account before I'd had chance to fund it!