Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#50118 - 12/20/02 04:48 PM Do you allow a POA to have an ATM or Debit Card
Anonymous
Unregistered

Do you allow a POA to have an ATM or Debit card to access funds for the account they are POAs for? How about transfers on online banking, telephone banking or bill payment?

Return to Top
Operations Compliance
#50119 - 12/20/02 04:58 PM Re: Do you allow a POA to have an ATM or Debit Card
Anonymous
Unregistered

Let me add something. We don't have a procedure in place to track if the agreement is rescinded or when the grantor is deceased or has changed their POA.

Return to Top
#50120 - 12/20/02 06:03 PM Re: Do you allow a POA to have an ATM or Debit Card
BANNED BY BOL MANAGEMENT Offline
Platinum Poster
BANNED BY BOL MANAGEMENT
Joined: Oct 2002
Posts: 524
The products that you mentioned don't change the POA relationship in any way, so all you are doing is lowering your cost of dealing with POA accounts.

Since you don't have a way of monitoring POA status anyway, allowing additional access points does not impact that situation.

Return to Top

Moderator:  Andy_Z, John Burnett