Locked account

eskbanker

wisemk said:.

With regard to the link you provided, the LPA would give me full access, but this is not a quick fix.

[...]

Guess I'm going to have to wait the 8 weeks before the ombudsman can get involved.

In case you're not aware of it, getting the ombudsman involved is some way from a quick fix too, in that it'll typically take 4+ months before they'll even allocate a case to someone, never mind actually resolving it....

wisemk

Final comment..... My father can no longer invest his money as Lloyds have denied him and I have no power to change this. He has over £90,000 in his current account which will grow, and another £6,000 in an ISA, well over the FSCS protection. I will have to leave him with at least £300 in cash to pay his friends, which is an increased risk. 

There seems to be only one winner in this sorry saga, and it frustrates me in that the banks have all the power.

wmb194

wisemk said:

Final comment..... My father can no longer invest his money as Lloyds have denied him and I have no power to change this. He has over £90,000 in his current account which will grow, and another £6,000 in an ISA, well over the FSCS protection. I will have to leave him with at least £300 in cash to pay his friends, which is an increased risk. 

There seems to be only one winner in this sorry saga, and it frustrates me in that the banks have all the power.

It'll get fixed when you obtain PoA and it's not Lloyds' fault that you don't already have it in place. I presume the £90k didn't accrue overnight, either, so that will have been a choice made by your father.

km1500

your father should write a formal letter of complaint to the bank or at least sign one that has been created for him if he is unable to write

you should ensure that it is labelled formal complaint and you should quantify your losses and claim them from the bank

your losses are likely to be the loss of interest that you would have got had you been able to transfer the money to interest bearing accounts from day 1 plus the costs of going to and from the bank

this is the amount you should claim from them in your complaint letter. They have eight weeks to reply and you can then go to the ombudsman

wisemk

wmb194 said:

wisemk said:

Final comment..... My father can no longer invest his money as Lloyds have denied him and I have no power to change this. He has over £90,000 in his current account which will grow, and another £6,000 in an ISA, well over the FSCS protection. I will have to leave him with at least £300 in cash to pay his friends, which is an increased risk. 

There seems to be only one winner in this sorry saga, and it frustrates me in that the banks have all the power.

It'll get fixed when you obtain PoA and it's not Lloyds' fault that you don't already have it in place. I presume the £90k didn't accrue overnight, either, so that will have been a choice made by your father.

Just to clarify, it is Lloyds fault when he is in branch and states he wants to move his money to higher interest accounts, one of which is an existing ISA with them. They did not want to help him in the slightest, and were keen to get him out of branch.
The money did come in a short space of time when my mother died earlier in the year and everything she had in savings was transferred to his current account. I agree he should have already had a POA in place, but another sudden death in the family has created this situation. I feel Lloyds have a DoC and could have been more understanding of his predicament. As I have previously stated, he now has no access to his money and is totally reliant on me funding him from my own account. 

wmb194

wisemk said:

wmb194 said:

wisemk said:

Final comment..... My father can no longer invest his money as Lloyds have denied him and I have no power to change this. He has over £90,000 in his current account which will grow, and another £6,000 in an ISA, well over the FSCS protection. I will have to leave him with at least £300 in cash to pay his friends, which is an increased risk. 

There seems to be only one winner in this sorry saga, and it frustrates me in that the banks have all the power.

It'll get fixed when you obtain PoA and it's not Lloyds' fault that you don't already have it in place. I presume the £90k didn't accrue overnight, either, so that will have been a choice made by your father.

Just to clarify, it is Lloyds fault when he is in branch and states he wants to move his money to higher interest accounts, one of which is an existing ISA with them. They did not want to help him in the slightest, and were keen to get him out of branch.
The money did come in a short space of time when my mother died earlier in the year and everything she had in savings was transferred to his current account. I agree he should have already had a POA in place, but another sudden death in the family has created this situation. I feel Lloyds have a DoC and could have been more understanding of his predicament. As I have previously stated, he now has no access to his money and is totally reliant on me funding him from my own account. 

You were with him in the branch, though i.e. someone without PoA or third party mandate on the account who during the same visit was also trying to get Lloyds to transfer £45k to an account in your name. You have to appreciate that from Lloyds' POV this looks like something bad and the safest thing for it to do is to do nothing.