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30th October 2013

Powers of Attorney and Banks – new system.

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Powers of Attorney and Banks – new system On BBC Breakfast today Lloyds Bank announced an initiative with The Alzheimer’s Society to help people with early stage dementia.

The charity is working with many banks to provide a training course for certain bank staff, who will be known as “dementia champions”. The aim is that these staff will be able to offer a meeting to set up simpler security checks and codes for those who have identified themselves as suffering with dementia.

The Lloyds bank spokesperson took for granted that everyone with such a problem will already have a Power of Attorney in place to help make life easier for themselves and for anyone caring for them. A Power of Attorney enables someone else to sign on your behalf when you ask them for help (without taking away your own ability to sign). For more information on Lasting Powers of Attorney click here.

At present he accepted that banks can take 3 days to record the details of a Power of Attorney. However, the new initiative should mean a 45 minute appointment can be offered with the Champion, at the end of which the Power will have been recorded for use and simpler security safeguards will be in place.

For further information, please contact Carolyn Bagley on 01908 247015 or email carolynbagley@hewitsons.com