Lasting Power of Attorney (LPA) – England and Wales / Continuing Power of Attorney (CPA) - Scotland
This might be helpful if you’re preparing for a time when you may no longer be able to make your own financial decisions and want to allow someone to manage your money and Marcus account for you.
The representative would be able to:
• Add money to and withdraw money from your account
• Unlock your account
• Change any of the details on your account, including your address
• Close your account
As long as you’re able to make financial decisions, you’ll still be able to manage your account yourself too. If a time comes when you’re no longer able to make decisions yourself, a Lasting Power of Attorney means your representative can take care of your account for you.
There are two types of Lasting Power of Attorney (LPA):
1. Property and financial affairs
2. Health and welfare
Please note, we cannot accept a health and welfare LPA.
Donors and attorneys with LPAs registered from 17 July 2020 will be able to use the online government service here to generate a secure access code which, when shared with us will mean we can view a summary of the LPA. The access code is only valid for 30 days, but after expiry a new code can be generated. You will need to include the access code on the ‘Add an attorney, deputy or representative’ form.
If the account holder is no longer able to make their own decisions, the representative can’t apply to be Lasting Power of Attorney.
Remember, a LPA document must be registered with the Office of the Public Guardian before we can accept it. LPA has been replaced by Enduring Power of Attorney (EPA). Only EPAs made and signed before October 2007 can still be used.