Joint Bank Accounts and Lasting Powers of Attorney

There has been lots of debate recently about whether or not a Power of Attorney is relevant where clients own joint bank accounts. There is a general misconception that when one party loses capacity the party who still has capacity can still access the funds.


The British Bankers’ Association guidance states that when dealing with a joint bank account where one party has lost capacity the bank can decide whether to temporarily restrict the account, unless/until there is Power of Attorney or deputyship in place.

Individual institutions COULD freeze an account which would be inconvenient to say the least.


U-PLAN’s advice (and that of the British Bankers’ Association) has always been to establlish a Power of Attorney before clients lose capacity so they are never put in a position where they cannot access their funds.

See below link to the BBA’s guidance leaflet. Please see page 9 under the heading “Dealing with a joint bank account”.

Link to the British Banker’s Association guidance


Get in touch with us  for more help and information.

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