Most of us do internet banking these days, but if we are older we may not have got into that, or we might distrust it and feel that it is too difficult to learn now. However, if you have set up internet banking it makes it easier to pay people and to check your balances. You can also move money around and review standing orders and direct debits more easily. It can of course make you more vulnerable to scams, but these can happen even when you just have a credit or debit card to hand. Banks are very helpful in advising their clients how to avoid scams, so speak to them if you can.
If you have a power of attorney set up, one of your attorneys can help with your banking and other financial affairs. Each bank will have their own way to set this up. However, lesser known is the ability to set up a 3rd party mandate which you can do with anyone, whatever your relationship is with them, as long as the correct forms are filled in and signed by each party. This means that you can both have
access to a bank account and make payments and check it on a regular basis. Each bank will again have their own way of doing this, but it is a good way of allowing your loved ones to help you.
One Stop Organisers: Here to help your older loved ones live their best lives.