Refusal to add signatory to Nationwide Account

[ODC]

My wife and I both have power of attorney and are executors for her cousin's estate. At the moment her cousin is fit and well and well able to look after her own affairs. She thought it would be a good idea to add my wife to her current/flexaccount with the nationwide so that my wife could sign cheques in an emergency if her cousin was unwell.

Both her and her cousin went to the NW and completed the forms thinking that was that only to receive a letter yesterday stating that after having done a credit check my wife was not suitable to have her name on her cousins account. This is despite the fact that she has her own flexaccount, ISA and is already joint signatory on a substantial savings account belonging to her cousin. (ALL with NATIONWIDE)

I cannot see the logic in this.

She was not asking for Credit

She was only being added as a signatory for convenience

She already has power of attorney which presumably allows her complete access to all her cousin's accounts anyway.

The bank have said this is there FINAL decision on the matter.

Surely this is both morally wrong and technically wrong . My wife's cousin should be entitled to add whoever she wants to her account which contains HER money

Any help or advice would be appreciated

[PlanB]

Re: Refusal to add signatory to Nationwide Account

It could be simpler for your wife's cousin to sign a Third Party Mandate (Authorisation) which will give her access to the account without being an actual joint account holder.

I did this when my daughter was on her Gap Year and the bank was forever blocking her debt card so I needed permission to talk to the bank and the authority to move money around and pay her bills back in the UK. In fact I think the bank also offered me a debit card with my name on it. I'm still on there ten years later and her account shows up on my online account so I can make payments in and out and to third parties. Although these days it's usually me paying money in :rolleyes2:

[enquirer]

Re: Refusal to add signatory to Nationwide Account

... only to receive a letter yesterday stating that after having done a credit check my wife was not suitable to have her name on her cousins account.

The results of credit checks are often wide of the mark.

Surely this is both morally wrong and technically wrong . My wife's cousin should be entitled to add whoever she wants to her account which contains HER money.

It's irritating, but the bank is right. An account is a facility, not a right, so they may accept or decline as they choose. A cheque is technically a credit facility.

[ODC]

Re: Refusal to add signatory to Nationwide Account

The results of credit checks are often wide of the mark.


It's irritating, but the bank is right. An account is a facility, not a right, so they may accept or decline as they choose. A cheque is technically a credit facility.

My point is that the account already exists. My wives cousin only wanted to add my wife's name to the account. It's her account so surely she can decide who has access to it>

[wales01man]

Re: Refusal to add signatory to Nationwide Account

The banks have the right to refuse as same as you have as you have a right to refuse them if its a real problem change banks?

[enquirer]

Re: Refusal to add signatory to Nationwide Account

My point is that the account already exists. My wives cousin only wanted to add my wife's name to the account. It's her account so surely she can decide who has access to it>

Both things are true - she can, and they can. Unless the two agree, then it's no-go.