Re online only banks when death occurs to holder

joesoap1264

Thanks Brie.
both of my kids are joint executors, one has LPA, should have done both, but at the time, one was not playing ball!
all my/ our a/c’s are isas, so cannot add any TPA to them ?
that leaves our joint Hsbc A/ c, which I presume you are referring to ?
every DD ,bill etc is through it, all in payees
can a TPA be added to a joint current a/ c ?
if so, that may be a good idea, as my wife, as I said earlier, is showing signs of altzeimers.
she’s 80 and not in good health.
does one just phone the bank to do so?
years ago I gave my wife permission to act on my behalf before the account was made joint, the bank agreed and I never went to the bank at all.
I had a broken back then, so couldn’t go, before internet banking, when we had a branch open to go to, which no longer exists, so it’s phone or internet now which wife couldn’t cope with  neither now even ,
cheers, much appreciated.

joesoap1264

P.s.
my wife has never been able to even log in to our joint account, never mind use it.
no interest .
also couldn’t do phone banking.
so looks like that may be a good idea, even though my kids have not been the most trustworthy when it comes to money in the past🤬
forever bailing them out, but suppose it beats 
hmrc having it via Iht

joesoap1264

Downloaded  T H A mandate form from Hsbc and going from there cheers again Brei

anotheruser

I plan to simply use a joint account when I am older.
One less bit of hassle for my wife to deal with as she can take all the money out and convert it or close it.

For those who are bound to comment:  Yes, I realise I could die any day now - my wife has all my pin numbers anyway - but the likelihood of me dying now is very low.

joesoap1264

anotheruser said:

I plan to simply use a joint account when I am older.
One less bit of hassle for my wife to deal with as she can take all the money out and convert it or close it.

For those who are bound to comment:  Yes, I realise I could die any day now - my wife has all my pin numbers anyway - but the likelihood of me dying now is very low.

My wife or I will use our current account to repatriate. My, or her monies on death, but it is the £85k rule that gives me , concern
I know that £85 k will be breached either way .

even hsbc isn’t failproof, nowt is in this climate, hence the Ns&i a/c, a tad better interest then Hsbc, which is nil.
having been in two banks that went under, it gives one a different perspective !

Daliah

joesoap1264 said:

anotheruser said:

I plan to simply use a joint account when I am older.
One less bit of hassle for my wife to deal with as she can take all the money out and convert it or close it.

For those who are bound to comment:  Yes, I realise I could die any day now - my wife has all my pin numbers anyway - but the likelihood of me dying now is very low.

My wife or I will use our current account to repatriate. My, or her monies on death, but it is the £85k rule that gives me , concern
I know that £85 k will be breached either way .

even hsbc isn’t failproof, nowt is in this climate, hence the Ns&i a/c, a tad better interest then Hsbc, which is nil.
having been in two banks that went under, it gives one a different perspective !

NS&I is an option if you have more than £85k but their interest rates aren't very good. It's easy to open and manage accounts at multiple banks that pay relatively decent interest.