Opening a Bank account for adult with special needs

Which type of bank account from which bank would be best for an adult to open who does not have a good grasp of money. She does not read or write. But she is independent and capable of using a banking app of a phone and can memorise a PIN number. Although she could easily give her PIN to a third party who is maybe not trust worthy. She can understand most numbers. She has a speech impediment which is means phone calls are difficult. 

She will need a bank for her benefits to go into. Perhaps a ultiity direct debit (e.g. Netflixs subscription and mobile phone subscription). She will need a card to say pay for groceries and top up ultitiy pre-paid cards. She does not have anyone who would be naturally be a legal guarantee (not even me). 

I want to ensure a loan is not taken out in her name by a third party. Perhaps could have 1-1 face-to-face service if something goes wrong (local bank on high street). I doubt budgetting would be in her reach but thought through setting up "rules" when money can be taken out - how much per week - would do automatic budgetting. 

How did we arrive at this situation ? I think the parents must have thought they would live forever. And her father has passed and her mother is now in intensive care. 

Comments

  • Shakin_Steve
    Shakin_Steve Posts: 2,811 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    You are asking a lot, I'm afraid. Most banks will see her as a risk too far, especially as you mention she could easily be persuaded to give her PIN number to someone else. As for 1 to 1 (when/if things go wrong) it's just not possible in today's world. It's just too risky for a bank, especially when they are expected to make good any losses incurred.
    She is going to need someone to act on her behalf.
    I came into this world with nothing and I've got most of it left.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 349.8K Banking & Borrowing
  • 252.6K Reduce Debt & Boost Income
  • 453K Spending & Discounts
  • 242.7K Work, Benefits & Business
  • 619.5K Mortgages, Homes & Bills
  • 176.4K Life & Family
  • 255.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.