Other people's money - Power of Attorney

There are a number of reasons why you might ask for help with managing your finances.

• You could be going away on holidays and not have access to your financial affairs
• You could be unwell and unable to visit a bank to manage your own money
• You may not be considered well enough to make sound financial decisions

Whatever the reason there are a number of ways that you can give another person varying levels of access to your finances. Be sure that you check with a solicitor when drawing up your documents.

A Power of Attorney is a legal document which you can set up so that someone else can manage your welfare, property and/or finances. If you’re considering getting someone to act as an attorney for you, there are many things you will want to think about. For example, the tasks you want them to undertake for you, who will make a suitable attorney and whether you should get a solicitor to draw it up for you.

• General or Ordinary Power of Attorney - These are usually drawn up to allow a person to manage the finances of someone else for a particular event or situation such as moving house, or during a period of travelling abroad. General Power of Attorney is used in England and Wales, and Ordinary Power of Attorney is used in Scotland.
• Lasting or Continuing Power of Attorney - For a greater level of control, Lasting Power of Attorney or Continuing Power of Attorney may be drawn up to allow a person to manage the affairs of someone else. These agreements will continue in the event that the account holder subsequently becomes unable to manage their own affairs. They must be set up by the account holder while the account holder is still in a position to manage their own affairs, and registered with the Office of the Public Guardian before they can be used.

If a person is not able to look after their own affairs there are a number of documents issued by the Court of Protection (in England and Wales) and the Office of the Public Guardian, Sheriff Court or certain Supervisory Bodies (in Scotland) that authorise someone to act on their behalf. The most common of these are:

• Deputyship Orders in England and Wales
• Access to Funds Orders
• and Guardianship Orders in Scotland

If you want to be able to make decisions on behalf of someone who no longer has the ability to do so for themselves and they have not set up a Power of Attorney, you will need to apply to the relevant body for the relevant authority.

A Third Party Mandate is a process specific to Lloyds TSB. This mandate is a written authority from a customer allowing another person, on their behalf to:

• Withdraw cash
• Sign, draw, accept or endorse cheques and other payment instructions
• Transfer money between accounts
• Request account information

You can set up a Third Party Mandate by calling into one of our branches and requesting a form. The account holder should fill in the form and you can then hand it back to the branch. The authorised third party also has to sign the form. If the third party is not an existing Lloyds TSB customer they will need to visit the branch in person, and bring with them original identification, such as a passport or full driving licence. 

Third Party Mandates can’t be used to manage finances for someone who is losing, or no longer has the capacity to look after their own accounts.

If you need to register a Power of Attorney or Court Order with us at Lloyds TSB, you should book an appointment at your branch. You can do this by calling our PhoneBank® service on 0845 3 000 000, or by visiting your local branch. 

Documents you need to bring to register:

England and Wales

• Original Power of Attorney documents or a copy certified by a solicitor
• Original Court Order’s with you, or a copy certified by a solicitor, and also bring an original or certified copy of your Bond Confirmation Certificate if one has been required by the Court

Scotland

• Original Scottish Ordinary Powers of Attorney documents are required
• Scottish Continuing Powers of Attorney: a copy will be accepted only if it has the original certificate issued by the Office of the Public Guardian bound with it
• Guardianship Order/Intervention Order: a copy of the Court Order can be accepted if it has the original certificate of appointment issued by the Office of the Public Guardian bound in with it
• For Access to Funds Orders and Section 42 authorities – the customer needs to present the original order/authority

Wherever possible all Attorneys/Deputies/Withdrawers/Guardians should attend in person.

If an Attorney/Deputy/Withdrawer/Guardian is not already a Lloyds TSB customer they will need to bring original identification documents with them, such as a passport or full driving licence.

For more information about acceptable identification documents, or to find your local branch, visit our online help section.