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Open Savings Account as Power of Attorney
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wabak1
Posts: 8 Forumite
Hi, advice please. I am POA for my mother who is 95 and lives in a Care Home.
She has a savings account to pay for the Care Home that I currently manage, but the interest rate is very low. As POA can I open a new savings account for her that has a better interest rate. She has no ID, I don't want correspondence going to the Care Home but I need to put that down as her residential address when applying. Has anyone experience of doing this, or do we have to live with a low rate of interest? TIA
She has a savings account to pay for the Care Home that I currently manage, but the interest rate is very low. As POA can I open a new savings account for her that has a better interest rate. She has no ID, I don't want correspondence going to the Care Home but I need to put that down as her residential address when applying. Has anyone experience of doing this, or do we have to live with a low rate of interest? TIA
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Comments
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You should be able to open one for her, but it may mean you have to do it in branch as they will need to see you LPA documents and proof of your ID. All correspondence can come to you.2
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