Bank Questions Daughter's Access to 81-Year-Old Mother's Joint Account

An 81-year-old mother and her daughter faced questioning at a bank after attempting to transfer funds to a joint account. The mother had set up the account in November to allow her daughter legal access to her money for assistance with shopping and bills, fearing future incapacitation. The daughter, who is financially independent, felt blindsided and distressed by the bank's suspicion of elder abuse.

The bank has a duty of care to customers and is regulated to be vigilant against elder abuse, which is a growing concern. However, the advice notes that training and communication skills among bank staff can vary, leading to misunderstandings. Transferring a lump sum to a new joint account often triggers alarms.

Two options are suggested: either the daughter becomes a signatory on her mother's personal account, which is a more common and efficient method for access, or they meet with the bank manager to explain the arrangement and have the accounts flagged as trusted. The mother's comfort with the arrangement is paramount. An enduring power of attorney is another, more formal, long-term solution.