Pensioner? Here’s the trick you should know to avoid breaking the bank

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Are you in retirement age and have challenges in carrying out banking transactions?

It is not unusual for older people to find it more difficult to handle banking matters as more and more bank offices disappear and the handling is instead moved to the internet, something not everyone is comfortable or accustomed to using.

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This is how you get help from relatives – with your banking matters

Should this be the case for you, there are ways in which you can simplify the handling of your banking matters. By, for example, giving relative authorization to a family member. It gives a relative the opportunity to help you with simpler matters at your bank.

You apply for relative authorization by ordering a family certificate from Tax Agency and you then do not need to issue a power of attorney, write Advice & Opinion.

Another option in the event that you find it difficult to handle your banking matters independently is to give a relative the right of disposition where that person can help you manage the account, pay invoices and other matters. It helps you, for example, in the event of illness and if you then have difficulty visiting or contacting the bank.

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Consider this – if you are going to issue a power of attorney to a relative

According to The Swedish Banking Association there are a couple of points you need to keep in mind when issuing the power of attorney to someone or others.

  • The power of attorney must be in writing.
  • Most banks have ready-made power of attorney forms. Contact your bank to find out what form you need based on which matters you need help with.
  • Be sure to specify the extent to which the power of attorney should apply.
  • It must be clearly stated who or who will carry out banking transactions on your behalf. If several are to be specified, it must be stated whether they can act individually or together.
  • If the power of attorney only refers to a certain time, the exact time must be stated.
  • It must also be stated whether the power of attorney is to expire in the event of your death.

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