A report recently published by the Office of the Public Guardian has found that some people using Powers of Attorney are encountering problems when dealing with banks and building societies. The report suggested this was because staff in financial institutions didn’t always know enough about the different types of Power of Attorney. This could leave customers unable to get at the money they need, even in cases of urgency.
The OPG met with banks and building societies to try to find ways of improving the service given to people using Powers of Attorney. As a result the British Bankers Association says it is committed to assessing their training programmes for staff to ensure “the system is robust for customers and gives them the assurance they need."
The OPG is responsible for regulating Powers of Attorney, some 200,000 of which have been created since the new Lasting Power of Attorney was introduced in 2007.
The OPG met with banks and building societies to try to find ways of improving the service given to people using Powers of Attorney. As a result the British Bankers Association says it is committed to assessing their training programmes for staff to ensure “the system is robust for customers and gives them the assurance they need."
The OPG is responsible for regulating Powers of Attorney, some 200,000 of which have been created since the new Lasting Power of Attorney was introduced in 2007.
For more information on both Property & Affairs and Welfare Powers of Attorney please contact Alistair Dobson at Lawson-West on 01858 445480.
