Power of Attorney Management Account
LPA Management Features Account
- Free of Charge and simple to open*
- Financial Service Compensation Scheme (FSCS) protected
- Buil-in welfare benefit check and entitlement calculator
- Store, view and share DWP letters and other documents
- Prepaid spending cards for loved ones /carers/support workers
- Biometric fingerprint activated debit cards – No PIN required
- Set up automated balance limits on accounts for safeguarding
- Get personalised suspicious payment alerts for fraud monitoring
- Use or Current Account Switch Service to transfer old account
- Instant bank statements online or from smartphone app
- Open Banking Connectivity to view other accounts
- Entry onto the Vulnerability Registration Service database
- Access to expert support from the Money Carer Foundation
- *Royal Mail costs are passed on
What we need to open the account
- A copy of the DWP BF57 document (your appointee confirmation)
- Name of vulnerable person under appointeeship
- Address and date of birth details of vulnerable adult
- Basic identification documents for KYC (Know Your Customer)
- Sort code and account details of old bank account (if switching)
Power of Attorney Account
When you are authorised by the Office of the Public Guardian (OPG) to act as the Property and Financial Affairs Attorney for a Donor under a Lasting Power of Attorney (LPA), you will be required to manage that person’s finances with accuracy, transparency and in their best interest.
To assist with this often-complicated role, Money Carer launched a Power of Attorney Management Account, using the technology in Monika, to make the task much easier for all attorneys involved along with the Donors circle of care.
Our banking platform is already used by hundreds of solicitors and local authorities to open bank accounts and manage the finances of their own vulnerable clients and setting up an FSCS protected accounts is super-simple, free of charge, * and can be opened in a matter of minutes.
Our Power of Attorney Management Account has purposely designed functionality that helps attorneys to stay on top of their responsibilities, avoid making common mistakes and provides safeguards for the Attorney’s, the Donor, who may well be a vulnerable adult, and also for the carers and support workers who provide everyday care needs.
Features such as our automatic welfare benefit checking tool, to ensure you are claiming the correct benefits, our high and low balance alert system, to let you know when to contact the DWP about a change in circumstances, and the ability to provide separated debit cards to your loved one or their carers for everyday shopping needs, are all part of the free service.
You can also store, view and share important letters and correspondence from the OPG, DWP, local authorities or care providers within your account when you need to, and you can access the account online via our secure portal or via our free smartphone app.
You can also choose to have greater levels of security when managing the account such as having dual payment authorisations or setting spending and transaction amount limits for the account.
To open your Lasting Power of Attorney Management Account, simply contact our friendly banking team and they will be happy to discuss the service more, and get things started for you.
*Royal Mail postal costs are passed on.
