Can I Set Up Online Banking as Power of Attorney?
Power of attorney is a legal document that gives someone else the authority to act on your behalf. It can be used for a variety of purposes, including managing finances and making decisions about health care. If you have been appointed as a power of attorney for someone, you may be wondering if you can set up online banking for them.
The answer is yes, you can set up online banking for someone with a power of attorney. Once you have registered the power of attorney with the bank, you can manage the donor’s accounts in branch or at a cash machine. In some cases, the bank may also give you online access to the donor’s accounts using the Internet Bank.
However, it is important to remember that you must always act in line with the power of attorney document. This means that you must not do anything that is not specifically allowed by the document. For example, if the document does not allow you to make investments on behalf of the donor, then you must not do so.
It is also important to remember that you must always act in the donor’s best interests. This means that you must not use the power of attorney to benefit yourself or anyone else. If you are ever in doubt about what you can and cannot do, you should consult a lawyer for advice.
Setting up online banking for someone with a power of attorney can be a convenient way to manage their finances. However, it is important to remember that you must always act in line with the power of attorney document and in the donor’s best interests. If you are ever in doubt about what you can and cannot do, you should consult a lawyer for advice.