Account access rights help manage daily banking
If you need some help with daily banking, you can give a trustworthy friend or family member access rights to your account. They can then withdraw money from the account and pay bills, for example.
Account access rights also allow ordering e-invoices to replace paper bills, which can make banking easier for the loved one. However, the access rights do now allow changing the account’s usage limits or other settings.
Remember that only an account holder or other person with sufficient access rights to an account is allowed to use the account or related online service user ID. You must not use the online service user ID of a loved one, even with their permission: no one should ever reveal their user ID to anyone else, not even a family member.
An online service user ID is a personal means of payment and identification, which can also be used to make a range of binding legal commitments and agreements. Disclosing user IDs to other people is also forbidden by law, and banks can never approve use of a user ID by the holder’s family members.
So, you need to ensure jointly that you have the access rights you need to manage a loved one’s account.
Continuing power of attorney permits the handling of another person’s affairs
In some cases, account access rights are not enough and help and support are needed in a range of routine activities. Then, legal guardianship may be worth considering.
Compared to legal guardianship, representation based on continuing power of attorney is a more flexible way of managing another person’s affairs. It doesn’t remove the person’s own legal capacity and right to take care of the affairs they are capable of managing.
It’s advisable to agree on representation based on continuing power of attorney in good time. It’s easier to take responsibility for managing a loved one’s financial matters after reaching timely agreement together, in a controlled way when everyone is still fully able and well.
Feeling in control of own financial matters
Even as a loved one becomes less capable or their memory falters, it's possible for them to maintain a feeling of control of their own financial matters.
Checking account balance and transactions
If your loved one uses ATMs or visits a bank branch to check their account transactions and balance, the OP Account SMS service may make their everyday life easier. The service sends an SMS on all account transactions and, if desired, the account balance to the account holder’s phone.
Many older people worry about whether bills are paid on time and there is enough money on their account to pay them. We offer a range of payment services and solutions to help customers in various situations in life.