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Third party access

Third party access relates to different ways of giving another person access to your bank account and the right to operate it.

 

Third Party Mandate

If you're an HSBC customer, you can complete a third party mandate. This is an HSBC-specific document which tells us that you'd like to give another person access to your bank account and the right to operate it.

When might you choose this option?

If you needed help managing your accounts for convenience, for example if you were recovering from an operation and wanted someone to pay your bills or if you were going abroad and wouldn't have access to your accounts.

  

Ordinary Power of Attorney

Anyone can write an Ordinary Power of Attorney (also known as General Power of Attorney). Unlike a third party mandate, an Ordinary Power of Attorney can give someone access to accounts you hold with different financial institutions as well as to your HSBC accounts.

When might you choose this option?

If you needed help managing your accounts for convenience, for example if you were recovering from an operation and wanted someone to pay your bills or if you were going abroad and wouldn't have access to your accounts.

   

Lasting Powers of Attorney

A registered Lasting Power of Attorney can give someone control of your financial affairs while you retain capacity and remains valid if you lose mental capacity.

As of 1 October 2007, Lasting Powers of Attorney replaced Enduring Powers of Attorney.

When might you choose this option?

If you needed help managing your accounts for convenience, for example if you were recovering from an operation and wanted someone to pay your bills or if you were going abroad and wouldn't have access to your accounts.

You might also choose this option if you're preparing for a time when you may become mentally incapable and you'd like your child, partner or someone you know to make decisions on your behalf, or if you've lost mental capacity (if the third party access has been prepared beforehand).

   

Enduring Powers of Attorney

An Enduring Power of Attorney is similar to a Lasting Power of Attorney, but will need to be registered with the Office of the Public Guardian if you lose mental capacity. 

Only valid if granted prior to 1 October 2007.

When might you choose this option?

If you needed help managing your accounts for convenience, for example if you were recovering from an operation and wanted someone to pay your bills or if you were going abroad and wouldn't have access to your accounts.

You might also choose this option if you're preparing for a time when you may become mentally incapable and you'd like your child, partner or someone you know to make decisions on your behalf, or if you've lost mental capacity (if the third party access has been prepared beforehand).

    

Court of Protection Orders and Deputyships

You could apply for a Court of Protection Order to be appointed as a deputy for someone who has lost capacity.

When might you choose this option?

You might consider this if you have lost mental capacity (if an Enduring Power of Attorney or Lasting Power of Attorney has not already been granted), or if you believe you need the authority to make financial decisions for an individual.

    

Department for Work and Pensions

If you know someone who needs help claiming and managing their benefits because they have a severe disability or lack mental capacity, you could become an appointee of the Department of Work and Pensions.

When might you choose this option?

You might consider this if you have lost mental capacity (if an Enduring Power of Attorney or Lasting Power of Attorney has not already been granted), or if you feel you could be responsible for making an individual's claims and managing spending.

 

Please note, in some circumstances you may have the option of using several different types of third party access. The Lasting Power of Attorney and Enduring Power of Attorney in particular may apply in various situations. You need to choose the most suitable option based on your circumstances and goals.

The information relating to third party access on this website is only intended to provide you with a general guide to the options available to you and does not constitute legal advice. We suggest that you seek legal advice before you decide which type of third party access is right for your individual circumstances.

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