Managing Mother's Bank Account

[taichiperson]

My mother recently fell ill and is thankfully recovering. She's not up to leaving the house, and I need to transfer some funds for her at her bank. She banks at Lloyds - can anyone tell me if it's ok for me to go in and do this for her? I don't have any authority as such, no telephone or internet access. I do know the pin number on her debit card so have been able to withdraw cash for her to do some shopping etc. In the future I will set up some sort of alternative, but for now, does anyone have any advice for the short term please?

My father used to deal with all their finances and has left her with a very good pension. She's ok mentally but only understands the basics of her affairs - mention ISA's or other types of investments and it throws her into a panic - and I only vaguely understand them myself, so her affairs are very simple.

[bhg481]

It's a long time since I set myself up with internet access to my bank accounts but I don't recall having to go into he bank to do it. If you have all her details why not try to set up internet access for her and then you can just impersonate her to do money transfers etc.

[ummmm]

Like bhg says. If you set up internet banking you don't have to do anything in person. You set it up and, with Nationwide anyway, they will send you a customer number and then send you a pin separately. They also send you a card reader.

[gsr600]

If you have any brothers or sisters make sure they are OK with it as well or it will open up a hornets nest.

[woofgang]

I agree with bhg, I set up internet access at lloyds without having to go to the bank or do anything in person. HOWEVER impersonation is a serious thing to do. Can I suggest that in case anyone ever thinks that you were being fraudulent which might end you up in legal trouble, you sit down WITH your Mum and do this ? You can do it all, press all the buttons, set up the passwords and so on, but if ever any busy body did get wind of it, then you and she can honestly say that she did it, all you did was help her and you have got her passwords and access because she told you to. You will need to set her up with an email address if she hasn't got one. I would suggest that this is one on your account but don't use yours.

[TWR]

Hi Taich, at this time that is what I am doing regards my Mother, the difference is she is in 1st stage Dementia & in a care home, I had to go for a Court Of Protection order to set up a Bank Account for her affairs, would it be possible for your Mother to go into the bank with you & speak to the Manager to sort this out? believe me should it comes to the case that your Mother can not sort things out for herself & you have to do, its a pain going through the Court Of Protection Process to deal with you Mum's affairs, if you decide to go this way get yourself an accounts book & get Receipts for everything & I mean everything you purchase for evidence, this is what I am doing at this time, the reason I have a very devious brother!!!!

[taichiperson]

Thanks all - I'm an only child. I know of course that impersonation is not the thing to do, and rest assured I only have her best interests at heart. This is just a short term solution and I will have to set up something more permanent while she still understands what is going on. I'll be setting up some sort of power of attourney very soon.

[bhg481]

DIY power of attorney is your best long-term plan. It's easy to do (we've just done it for our only-child daughter). Have a look here:
http://www.moneysavingexpert.com/family/power-of-attorney
and do it SOON whilst you still can.

[woofgang]

I am sure that you do. My sis did something similar with my Mum when she needed it, and I accessed my late DH's bank account over the net at the end of his life with his permission as has couldn't manage and I needed access to money.
The kind of situation that i was thinking of is where maybe your Mum gets a little forgetful and is chatting to a neighbour or a carer at some point in the future and mentions what a good daughter you are and how she doesn't have to worry about her money because.....and you are in trouble. And yes, power of attorney ASAP.

[TWR]

Bhj, It cost me £400 for this C.O.P. Order, £92 for my Mothers GP's letter of confirmation letter.

[ummmm]

It's not impersonation as such if she's giving her permission.

[bhg481]

TWR - that's the beauty of doing it whilst she is still compos mentis; £140 if you do it yourself.
I've been down your route with my own mother and wanted to make sure our daughter didn't have the problems we did.

[Gavmacp]

Have not read all answers but my mother has my brother on her account.

[bhg481]

Ummmm - I think you're morally right but I think it's as well to get it properly legal ASAP. Being an only-child saves a lot of complications with siblings.

[TWR]

Gave, think about my reply!!!, my Mother's account is approx. £10,000 short due to evil piece ***, he had access to her card until I sorted it, I will let you think about that.

[alavahalf]

Without getting bogged down on the legal side of it. Cant you just create a joint a/c. That way you will have access to move money around at will.

[Gavmacp]

My mother ( and I ) trust my brother!

[taichiperson]

Thanks all for your experiences. Internet banking is set up and am awaiting an activation code which will be sent to her in the post. This has shaken me quite a bit and all sorts of things were going through my head - can she still cope on her own, what options are available to help us cope etc. She's slowly recovering, but I'm most likely going to have to spend more time with her in the future.

[whiskeryron]

You can open a joint account at Nationwide for your mother & yourself & then you will be free to take care of your mum's affairs either on line or at a high street branch, you can make the account for either of you to sign, well worth doing.

[TWR]

With respect Gav, when I reported the Issue with the area Police, it was going on with the WP Family, "Trust" in some peoples mind goes when there is money involved believe me.

[TWR]

Taich, please don't think am the Expert, I am not, I do hope all goes well for your Mum, my own Mother started all of a Sudden, she was a very bright, alert person but then this came about, I live 130 miles from where she lives so could not keep my eye on her, the evil Bads whom I talked about knew the score & had taken advantage, I contacted the Card Company & after I explained in detail he stopped the Card there & then, the person was not by right to do that due to the Data Protection Act, but he did, my thoughts are with you as it's not a nice situation to go through.x