Your third party can only have access to your passbook savings account. They cannot access any other account, nor any information that we hold about you and your other accounts.
One off withdrawals
If you are authorising a one off withdrawal, you must state the type and amount of withdrawal on the request form. This could be:
- Cash withdrawal up to £500 (limit may vary depending on account type)
- Cheque withdrawal up to £5000, made payable to a person or organisation specified by you (it cannot be made payable to the third party)
Your third party will only be able to make this one withdrawal, at this one time.
Short term regular access
If you are authorising your third party to make regular withdrawals for a short period of time, they can:
- Withdraw up to £500 a day cash
- Withdraw up to £5,000 a day by banker's cheque, as long as it’s not made payable to them
- Transfer up to £5,000 a day to any account in your name
Your account may have withdrawal and transfer restrictions within the account terms and conditions, and these will still apply.
There will still only be one passbook on the account and you remain in control. You can cancel this Third Party Mandate at any time.
Important: Whenever your third party comes into a branch to make a transaction, they must bring the passbook and their proof of ID and address.