Power of Attorney and access to on-line bank accounts.

Rusty190
Rusty190 Posts: 120
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I'm currently doing my LPA for finances and property.
I have named 2 attorneys.
Have I understood correctly that my bank, HSBC, would either give one of my attorneys OR me access to my current account but not both of us or both of them?
Does this depend on the bank?
Thank you.

Comments

  • Keep_pedalling
    Keep_pedalling Posts: 16,191
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    edited 11 February at 8:59PM
    That is not correct. When I first set up POA with my mother’s bank we both had access until she moved in to residential care with dementia, at which point I had sole access to her accounts. 

    While you still have mental capacity you can arrange for your attorneys to have joint acccess. 
  • Rusty190
    Rusty190 Posts: 120
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    Apologies @Keep_pedalling.
    I missed out the on-line bit of my original post.
    I don't know if that makes a difference to your answer.
  • Rusty190
    Rusty190 Posts: 120
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    Anyone help with this?
  • Savvy_Sue
    Savvy_Sue Posts: 45,810
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    Since it might depend on the bank, I wonder if only they can answer your question? Some are better than others at dealing with LPA ... 
    Signature removed for peace of mind
  • HillStreetBlues
    HillStreetBlues Posts: 3,081
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    Rusty190 said:
    I'm currently doing my LPA for finances and property.
    I have named 2 attorneys.
    Have I understood correctly that my bank, HSBC, would either give one of my attorneys OR me access to my current account but not both of us or both of them?
    Does this depend on the bank?
    Thank you.
    That goes against their FAQs
    https://www.hsbc.co.uk/help/life-events/poa/faqs/
    Can I appoint more than one attorney?

    Yes. If you appoint more than one attorney, you must specify whether they are to act 'jointly' (ie together) or 'jointly and severally' (ie together or individually). If you appoint your attorneys to act 'jointly' this means that they won't be able to access phone banking, online banking, mobile banking and they won't be able to have a debit card. 


    You will have to inform them if it's jointly or jointly and severally
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