Online banking

9 replies

gondrinkin · 08/10/2019 16:55

Hi
I was wondering if anyone had experience of setting up some sort of banking protection scheme for their elderly parents. For example, my SIL got a call from her mum's bank when she tried to send money to scammers and fortunately it was stopped. I'm worried my dad is similarly vulnerable or will just make a typo when transferring money. He's with Natwest but I couldn't see from their website if they operate such a scheme.
Thanks

OP posts:

HappyHammy · 08/10/2019 17:07

You can ask your parents if they would let you either have power of attorney for their finances or become a 3rd party on their account I wouldnt set up online banking. It might be easier if they use one bank and set up direct debits for their Bill's.

Original poster

gondrinkin · 08/10/2019 18:09

Thanks Hammy
I'll look into being a third party on their account, unfortunately convincing Dad it would be wise is another matter!
We've got POA all set up but Dad would never voluntarily activate it and he's generally still very 'with it' even at 90 so it's not an issue of him not having capacity, he's just prone to making mistakes like accidentally deleting himself from the family WhatsApp group. He's always been pretty tech savvy so is already online for pretty much everything, even posting videos on YouTube!

OP posts:

HappyHammy · 08/10/2019 19:55

He sounds a real character. You can have financial poa activated when you have capacity if he agrees to you helping him, it is a safeguard and he will still make the decisions but you will have a bit of control if he gets in a pickle.

namina · 08/10/2019 20:00

No advice but your dad sounds ace! How amazing that he's doing all that at 90!

Original poster

gondrinkin · 09/10/2019 18:50

Thanks namia , he's young for his age many ways and people are often amazed he's 90 but sadly age is catching up with him. Unfortunately I think I'm going to be spending a lot of time on this forum over the next few years, my mum is 'only' 81 but is very immobile and has had some nasty falls, she also has a long list of chronic health conditions and is showing some signs of early dementia.

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namina · 09/10/2019 19:42

Oh I'm sorry 😩I'm a community nurse so see it every day and it's just awful. Old age isn't fun. I'm sending love to you all x

namina · 09/10/2019 20:12

If you need any advice on anything to do with care you can always message me (not that I know how to do that) but apparently u can do on here x

Original poster

gondrinkin · 10/10/2019 12:47

Thanks namia, I've found some pretty good advice on here already, lots of us are dealing with the same things unfortunately.

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AutumnRose1 · 10/10/2019 20:10

I have third party access to an account for mum

It doesn't mean anything has to be cleared by me, it just means that I can operate the account, to a limited extent, on her behalf, and I have a card etc. Mum still operates the account but I can withdraw cash if getting shopping for her etc.

You need to ask your SIL what she has in place, I doubt it's third party.

Flip