A Power of Attorney is a formal document that allows someone to make legally binding financial decisions on your behalf. There are two types of power of attorney, General power of attorney and Enduring power of attorney.
A general power of attorney allows an appointed person authority to manage financial and legal decisions on your behalf while you have the ability to make your own decisions. An enduring power of attorney continues to operate if you become legally incapacitated and are unable to manage your affairs.
A Power of Attorney can be lodged with us by either the account holder or the nominated attorney/s:
In Person: You can lodge a Power of Attorney at a branch by bringing in the original or certified copy of the document and completing the Power of Attorney Notification Form.
We will need to identify you as the account holder and the nominated attorney before providing account access so please ensure you all bring proof of identity with you to the branch (e.g. driver’s licence, passport)
By mail: You can also mail a certified copy of the Power of Attorney document along with a completed Power of Attorney Notification Form signed by both the account holder and the attorney. If the account holder is unable to sign, a current letter from a doctor or carer facility is required. If unknown to the bank, the nominated attorney must also provide certified identification along with a completed Certify Identity Form.
A power of attorney can be set up on all accounts including transaction and saving accounts, term deposits, loans and credit cards and be provided with visa debit card and online banking access.