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  • FIRST POST
    • Gers
    • By Gers 13th Jan 19, 2:03 PM
    • 6,966Posts
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    Gers
    NS&I POA/CPA query
    • #1
    • 13th Jan 19, 2:03 PM
    NS&I POA/CPA query 13th Jan 19 at 2:03 PM
    I have a CPA (Scotland) for my mother. I have followed the instructions on the NS&I website and sent off a certified copy to the organisation.

    On the website there is this disclaimer:
    https://www.nsandi.com/system/files/asset/pdf/power-of-attorney-leaflet.pdf

    Please note that we recognise that as Attorney or Deputy you have a fiduciary obligation to our customer (the Donor or Patient).

    However, this does not remove our statutory duty of care to them. This may mean that on occasion, when we receive instructions from you on their behalf, we will seek additional information in respect of those instructions, in line with our statutory obligations


    Does this mean that the 'powers' of the CPA are not sufficient to manage the NS&I account? My mother only has PBs, she has not lost mental capacity and I only use the financial powers as she is physically frail, totally deaf (aged 91) and not computer savvy.

    No other financial institution has this stipulation. My question is, does anyone know in what circumstances NS&I would intervene? What statutory obligations do they have which overrule any POA/CPA?

    Thanks
Page 1
    • talexuser
    • By talexuser 13th Jan 19, 3:31 PM
    • 2,537 Posts
    • 2,015 Thanks
    talexuser
    • #2
    • 13th Jan 19, 3:31 PM
    • #2
    • 13th Jan 19, 3:31 PM
    I don't have any experience of your query (but did run POA for my Mother with many organisations for 4 years). I read this as a government get out clause which under normal circumstances should never be necessary. But if you closed her account with a lot of money in it and transferred the balance to your personal account - rather than a POA account in your name and her benefit name this might trigger an alert which would need further clarification for example. I don't think you have anything to worry about as long as transactions are to her benefit. Keep all paperwork.
    • xylophone
    • By xylophone 13th Jan 19, 3:36 PM
    • 27,968 Posts
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    xylophone
    • #3
    • 13th Jan 19, 3:36 PM
    • #3
    • 13th Jan 19, 3:36 PM
    Relative runs many and varied accounts for his PoA donor (who has lost capacity), including NS&I - he says that he has never had a query.
    • Gers
    • By Gers 13th Jan 19, 3:59 PM
    • 6,966 Posts
    • 46,606 Thanks
    Gers
    • #4
    • 13th Jan 19, 3:59 PM
    • #4
    • 13th Jan 19, 3:59 PM
    I don't have any experience of your query (but did run POA for my Mother with many organisations for 4 years). I read this as a government get out clause which under normal circumstances should never be necessary. But if you closed her account with a lot of money in it and transferred the balance to your personal account - rather than a POA account in your name and her benefit name this might trigger an alert which would need further clarification for example. I don't think you have anything to worry about as long as transactions are to her benefit. Keep all paperwork.
    Originally posted by talexuser
    Relative runs many and varied accounts for his PoA donor (who has lost capacity), including NS&I - he says that he has never had a query.
    Originally posted by xylophone
    Thanks for the replies.

    It just appears to be contradictory to the powers in the CPA. As for my mother's PBs, all that I do is buy more when she asks, using the debit card I have in my name for her account.

    When NS&I returned the certified copy of the CPA a second letter arrived in which they asked for my date of birth. No idea why though I have provided it. It's not a thing they ask for on the website when giving instructions, could have saved time and money if it was listed!

    Hey, ho...at least the CPA has been lodged, I now await what I fear will be complicated ways of managing my mother's account.
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