What kind of help can I arrange?

Third party mandate

Third party mandate

A third party mandate can be used to allow someone else to manage your savings account for a limited time.

What is a third party mandate?

It's a free arrangement that enables a named person (the 'third party') to access a Nationwide passbook savings account on your behalf.

Nationwide primarily only offers third party mandates with passbook savings accounts. However, customers supported by our Specialist Support Team may be able to set up a third party mandate across a wider range of Nationwide accounts.

Our Specialist Support Team provides a tailored and confidential service to our customers who are affected by cancer, and this will soon be extended to include other unexpected circumstances - see our Specialist Support page for more information.

Further information

Read Set up a third party mandate for more on what you need to do.


Read Set up a third party mandate for the form you need to fill in, the ID you must provide, and how to cancel it, or when it ends automatically.
Read Set up a third party mandate for the form you need to fill in, the ID you must provide, and how to cancel it, or when it ends automatically.
Read Set up a third party mandate for the form you need to fill in, the ID you must provide, and how to cancel it, or when it ends automatically.

When might a third party mandate be used?

You might use it if:

  • you want to give a trusted person some limited and well defined access to your passbook savings account
  • you're in the process of setting up a power of attorney and need to give them access to your savings funds in the meantime
  • you're going on holiday, or travelling with work, usually for a short period of time.

What might the third party be authorised to do when managing an account?

Action
Third party mandate
Cash withdrawal
Yes – up to £500 cash per day can be withdrawn from passbook savings accounts on behalf of the account holder
Cheque withdrawal
Yes – up to £5,000 per day can be withdrawn via cheque from passbook savings accounts. Cheques cannot be made out to the third party
Bank transfer
Yes – up to £5,000 per day can be transferred from passbook savings account into another account in the same name as the account holder. Up to £500 per day can be transferred from passbook savings accounts into another account not in the same name as the account holder
Hold a debit card
No – third party mandates are only available for passbook savings accounts
Hold a credit card
No – third party mandates are only available for passbook savings accounts
Hold a cheque book
No – third party mandates are only available for passbook savings accounts
Access internet banking
No
Access telephone banking
No
Open a new account
No
Close an account
No
Manage a mortgage
No – third party mandates are only available for passbook savings accounts

We have safeguarding procedures in place to help protect your account. At times, we may check transactions, eg if there are more than 3 transactions on the account in a week, we may phone you to confirm the activity.

When will a third party mandate end?

It ends if:

  • you or the third party cancels it
  • you or the third party loses their ability to make decisions
  • you or the third party dies.

You or the third party must come into branch to cancel the mandate instruction.

How much does it cost?

It's free to register a third party mandate on your passbook savings account with us.

General power of attorney

Lasting power of attorney