Registering a Power of Attorney
At the Holmesdale we appreciate that the responsibility of another person’s financial affairs can be a daunting task, especially in instances when the donor is no longer physically or mentally capable of managing their finances.
We hope that this guide will answer all of your questions but if there is anything we can assist you with please do not hesitate to contact our savings team - we will do our best to help you.
If you are a named Attorney for one of our members you will be able to register the document with us at any time during our opening hours. This can be done either in branch or through the post.
To register a Power of Attorney with the Holmesdale we will require the following items from you:
- The original, or certified, Power of Attorney document. The document must be whole with no missing pages.
- Identification from the Attorney in accordance with our Identification Requirements leaflet.
- A completed “customer details update form” so that we may link you to the account to ease security checks when an enquiry is made about the Donor’s account.
If you are an existing member of the Holmesdale we will not usually require further identification from you.
We will register a Power of Attorney document on the day it has been received providing that all of the documents required (listed above) are received. We will try not to delay the process however, if we have not received all of the required documentation and identification, we are unable to give the Attorney(s) authority to operate the Donor’s account(s).
Once the document has been registered we will write to all Attorneys confirming the registration and enclose further details regarding their authority.
Where the Power of Attorney document states that Attorneys must operate the financial affairs of the Donor jointly, we will require all Attorneys to provide us with identification in accordance with our Identification Requirements before the account(s) can be operated.
Where the Power of Attorney document states that Attorneys may operate the financial affairs of the Donor jointly and severally, we will not require all Attorneys to provide us with identification. Each Attorney who has not provided us with identification will not be able to operate or enquire about the account until identification has been established.
Unless otherwise stated in the Attorney document, transactions on the account are not limited though we encourage the Attorney(s) to ensure withdrawals are for the benefit of the donor.
Please keep us up to date if there are any changes to the Donor or Attorney’s contact details by completing and signing our Customer Change of Details form, and sending it to our office.
If you are a named Attorney you may open an account on behalf of the Donor. We will require the contact details of the Donor and Attorney(s), together with identification and sight of the Attorney document. Please also refer to the “Jointly/Severally” section.
Further information regarding this subject can be found on the “Guidance for people wanting to manage a bank account for someone else”