Top Tips: Practical aspects of registered Power of Attorney with a Bank

You have been appointed as a Continuing (financial) Attorney and now need to trigger the powers granted to you.

  1. Check the document has been registered with the Public Guardian’s Office. The document requires to be registered to be operational.
  2. Check the powers you have been granted. Ensure you have specific powers to deal with managing bank accounts.
  3. Attend the bank to register the registered Power of Attorney (POA) document. Call the bank or drop in to check if they have a staff member who deals with POA documents and arrange an appointment with them.
  4. Documentation for your appointment. Take the original POA document (or a certified copy) along with your own ID documents to verify your identity.
  5. Forms to be completed. Usually the bank will complete these with you when you attend the appointment.
  6. Consider what you will require. Will you require a bank card, cheque book or online banking? Discuss this with the staff member of the bank at your appointment.
  7. Access to the account. It may be appropriate that you advise that the bank the person who has granted the POA no longer has access to the account. Should the granter require funds for weekly spending it may be appropriate to set up a secondary account with a limited budget being set up to ensure they have funds for day to day expenses.
  8. Still having difficulty? Speak with the Public Guardian’s office. They can assist with general enquiries. If you require legal advice speak with a solicitor or you may wish to make a complaint to the Financial Ombudsman Service.

Should you require further information or specific advice please contact a member of our Power of Attorney team who will be happy to assist.

registered Power of Attorney with a Bank

 

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