Open a savings account with PoA

J_B

Mother in law has gone into a care home so she needs to sell her house to pay the fees.

She currently has funds to keep her funded for 12 months, everything is in Lloyds Bank - club Lloyds current account, 'high interest' account paying circa 1.5%, and a Cash ISA

If/When the house sells, is there a better place to put the proceeds? (that can be opened by Mrs B using her Power of Attorney)

eskbanker

https://www.moneysavingexpert.com/banking/best-banks-for-power-of-attorney/#bestbanks offers thoughts on which institutions are easiest to deal with but you'd need to overlay that with 'best buy' product listings - chances are that most of the best-paying accounts will be from niche providers with limited, if any, support for account opening under PoA, but there should still be a decent range to choose from…

Dead_keen

I use HL Active Savings - https://www.hl.co.uk/accounts/partners/active-savings-account

The POA is registered with HL and then you can open whatever account you want through their Active Savings feature. There are quite a variety of different savings providers there with different fixed periods, ISAs, etc. Each provider is FSCS protected. And you don't need to do much to open the accounts or move money, other than click a few buttons (no need to add name and address, POA, etc). In terms of interest rates, these are much better than Lloyds.