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  • #1

    Some questions regarding third party mandates

    Hi guys. Because of my mothers health, im thinking about becoming a 3rd party signatory for her bank accounts. Actually one of them, a business account, should technically have my name on since we are business partners.

    A couple of questions regarding this.

    If I become a 3rd party signatory, am I liable for any overdraft debts?

    I'm assuming that if I become a 3rd party signatory on her business account by showing proof of a business link i'll become liable for the business overdraft?

    Can anyone point me online to the forms needed for Santander, HSBC, and Halifax?

    Thanks guys.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.
    Tags: 2012, abroad, accounts, authorisation, bank, bank account, bank accounts, card, customer, date, debts, details, direct debits, financial, halifax, hsbc, money, online, overdraft, pay, payments, questions, santander, statements, support, third party, website, withdrawal, work
  • #2
    Re: Some questions regarding third party mandates

    Is this what you mean SXGuy?

    http://www.santanderconsumer.co.uk/w...ation-form.pdf

    Comment

    • #3
      Re: Some questions regarding third party mandates

      http://www.hsbc.co.uk/1/2/customer-s...-authorisation

      Having trouble finding Halifax form at the moment.

      Comment

      • #4
        Re: Some questions regarding third party mandates

        You do become jointly liable. My sister was added to my father's bank account and when he died everything transferred to her name.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: Some questions regarding third party mandates

          Ah ok. I don't want to take on my mothers overdraft debts really. Perhaps I should consider opening my own business account and then I can pay business cheques in to that if I need to.
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment

          • #6
            Re: Some questions regarding third party mandates

            Originally posted by SXGuy View Post
            If I become a 3rd party signatory, am I liable for any overdraft debts?

            I'm assuming that if I become a 3rd party signatory on her business account by showing proof of a business link i'll become liable for the business overdraft?
            I have a Third Party Mandate on my daughter's bank account and I'm definitely not liable for her overdraft. I'm on there so that I can sort things out when she's abroad because she travels a lot for her work. They keep blocking her card if she uses it in strange places. She's always going to strange places.

            I see myself as her financial secretary without any responsibility for her debts with the bank.

            I can see her bank account(s) details online when I access my online account. That enables me to move her money between accounts, make payments and set-up or cancel her Direct Debits, order statements, view all transactions back six years and so on.

            I have no idea whether I am also a "signatory" since I haven't seen a cheque book for years.

            Check with each bank to make sure you only sign up to access the account on a Third Party Mandate (which she will have to sign giving you authority) not convert it into a joint account where you would be jointly and severely liable for your Mum's overdraft.

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            • #7
              Re: Some questions regarding third party mandates

              Thanks PlanB, that makes more sense. I def do not want to have a joint account, just be able to sign cheques and withdrawal money should anything happen.
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment

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