What kind of help can I provide?

Third party mandate

Third party mandate

A third party mandate might be used if someone else needs you to help manage their savings account for a limited time.

What is a third party mandate?

This is a free arrangement that allows a named person (the 'third party') to access a Nationwide passbook savings account on the account holder's behalf. It may be suitable if the account holder needs help to manage or access their savings account, usually for a limited period of time. For longer-term arrangements, you may need a court order or power of attorney.

We primarily only offer third party mandates with our 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 will soon be extended to include other unexpected circumstances. 

Further information

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

When might a third party mandate be used?

It might be used if the account holder:

  • wants to give a trusted person limited and well defined access to their passbook savings account
  • is in the process of setting up a power of attorney and access to savings funds is needed in the meantime
  • is going on holiday
  • needs to set up access to their savings quickly.

What might I be able 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Yes – up to £500 cash per day can be withdrawn from passbook savings accounts on behalf of the account holder.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Yes – up to £5,000 per day can be withdrawn via cheque from passbook savings accounts.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.

All transactions must take place at branch using the passbook.

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

When will the third party mandate end?

It ends if:

  • The account holder or third party cancels it
  • The account holder or third party loses the ability to make decisions
  • The account holder or third party dies.

The account holder or third party must come into branch to cancel the mandate instruction.

How much does it cost?

We don’t charge to register a third party mandate on a savings passbook account with us.

General power of attorney

Lasting power of attorney

Court of protection order