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  • FIRST POST
    • Shamsan
    • By Shamsan 2nd Jan 19, 11:29 PM
    • 149Posts
    • 18Thanks
    Shamsan
    How to open a new account without switching
    • #1
    • 2nd Jan 19, 11:29 PM
    How to open a new account without switching 2nd Jan 19 at 11:29 PM
    I want to open a second account for my elderly MIL (I am power of attorney). Can anyone offer advice on how to do this and not get switched? This is very important. It sounds obvious, you just say you don't want to switch - but I did that with an ISA a few years back and the b*****s moved the whole ISA, even though there were clear instructions (and a letter) not to. The landscape seems quite complex, with banks offering "partial" switches as well. I am not interested in payments or perks, just want a second account to have her money in more than one place. Ideally I would run it through the branch locally by chequebook and avoid passwords etc. We are lucky enough to still have bank branches. Thanks for any advice.
Page 1
    • xylophone
    • By xylophone 2nd Jan 19, 11:43 PM
    • 28,931 Posts
    • 17,520 Thanks
    xylophone
    • #2
    • 2nd Jan 19, 11:43 PM
    • #2
    • 2nd Jan 19, 11:43 PM
    Example

    https://personal.natwest.com/personal/life-moments/caring-for-vulnerable-relatives/power-of-attorney.html

    You can open a new account for your donor once you have satisfied the bank's requirements.
    Last edited by xylophone; 03-01-2019 at 11:14 AM. Reason: typo
    • colsten
    • By colsten 3rd Jan 19, 11:14 AM
    • 9,963 Posts
    • 9,038 Thanks
    colsten
    • #3
    • 3rd Jan 19, 11:14 AM
    • #3
    • 3rd Jan 19, 11:14 AM
    The default is no switch. You would have to specifically ask for a switch.

    On the subject of bank branches: just because you have them today is no guarantee that you will have them tomorrow. Most banks do, however, now offer basic transactions (deposits, withdrawals) via the Post Office.
    • Brewer20
    • By Brewer20 3rd Jan 19, 6:55 PM
    • 122 Posts
    • 49 Thanks
    Brewer20
    • #4
    • 3rd Jan 19, 6:55 PM
    • #4
    • 3rd Jan 19, 6:55 PM
    As above really, the switch deals are usually to get all of your banking over, some with a bonus switch pay out. You don't have to with any when opening an account as long as you meet their criteria.


    Good point re PO's, we lost two HSBC branches and a NatWest locally but we turned to the PO for anything a bank visit was necessary, cheque pay-in mainly.
    • Shamsan
    • By Shamsan 12th Jan 19, 10:46 PM
    • 149 Posts
    • 18 Thanks
    Shamsan
    • #5
    • 12th Jan 19, 10:46 PM
    • #5
    • 12th Jan 19, 10:46 PM
    Thank you for the insights. Have done one application just waiting to hear the outcome. They don't seem to like the idea of Attorneys having a cheque book, go figure.
    • jonesMUFCforever
    • By jonesMUFCforever 12th Jan 19, 11:16 PM
    • 25,667 Posts
    • 12,895 Thanks
    jonesMUFCforever
    • #6
    • 12th Jan 19, 11:16 PM
    • #6
    • 12th Jan 19, 11:16 PM
    Thank you for the insights. Have done one application just waiting to hear the outcome. They don't seem to like the idea of Attorneys having a cheque book, go figure.
    Originally posted by Shamsan
    It is not just Attorneys accounts - most accounts these days are set to no cheque book - you need to ask them for one and hope their systems allow it.
    What goes around - comes around
    give lots and you will always receive lots
    • badger09
    • By badger09 14th Jan 19, 11:28 AM
    • 6,704 Posts
    • 6,242 Thanks
    badger09
    • #7
    • 14th Jan 19, 11:28 AM
    • #7
    • 14th Jan 19, 11:28 AM
    Thank you for the insights. Have done one application just waiting to hear the outcome. They don't seem to like the idea of Attorneys having a cheque book, go figure.
    Originally posted by Shamsan
    My husband has POA for his mum, who sadly died 23 December.

    He operated several accounts with Lloyds as POA, one of which was Club Lloyds, for which he had a cheque book.
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