You are here: Home - Saving & Banking - News -

Banks offered new guidance on dealing with carers

0
Written by:
03/04/2013
All banks and building societies in the UK have today received new guidance to support carers and relatives who manage accounts on behalf of other people.
Banks offered new guidance on dealing with carers

The framework – and the complementary consumer guide which accompanies it – aims to help these people have a better and more consistent experience, reducing their burden at what can be a very difficult time.

Arranging to run an account on behalf of a loved one is a challenge faced by thousands of people every year. Since 2007, 536,941 Lasting Powers of Attorney have been registered in the UK to manage property and affairs, which includes the management of financial matters. In 2012 there were around 800,000 people in the UK suffering from dementia with this number forecast to rise to more than a million by 2021.

The guidance framework has been jointly developed by the Office of the Public Guardian (OPG), the British Bankers Association (BBA) and the Building Societies Association (BSA), working in collaboration with the Law Society, Alzheimer’s Society, Solicitors for the Elderly and Age UK.

A copy of the crystal marked guide entitled, Guidance for people wanting to manage a bank account for someone else, can be downloaded free of charge from a number of websites, including those of the BBA, the BSA and the Ministry of Justice.

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week