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Powers of Attorney

 

NS&I understands that there will be instances where your clients are acting as Attorney for a Donor under a Power of Attorney (PoA), or Deputy for a Patient under a Court of Protection Order. Alternatively, you may have been appointed in one of these roles yourself in your capacity as an adviser. As such, the following information regarding NS&I’s treatment of Attorneys and Deputies may be useful.

There are regional variations in the names of these roles and Orders. See these explained below.*

NS&I generally treats Attorneys and Deputies in the same way, however courts can set the limitations of what a Deputy can (and cannot) control.

Our guide to acting on behalf of someone else

Eligible investments

All NS&I savings and investments are available to Attorneys and Deputies, excluding Children’s Bonds. These can however be managed (but not purchased) by Deputies. Whether a product is appropriate for the Donor will depend on the Donor’s personal circumstances as well as the customer agreement (terms and conditions) of the product, and therefore will need to be considered in isolation.

Application forms

Most NS&I products have a bespoke application form for Attorney and Deputy applications. However, please use the standard application form available for Premium Bonds and Investment Account. All application forms are available to download from our Resources page (when the product is on general sale).

Forms

Evidence of Attorney/Deputy arrangements

All initial investments must include either the original or a certified copy of the current PoA document or Court of Protection/Guardianship Order. See clarification of our document requirements below.**

Evidence of Identity

NS&I will seek to verify the identity of the Donor and the Attorney (when they are not already a NS&I customer), whereas the court is required to do this when they appoint a Deputy. NS&I will accept the Court Order as an alternative to the standard customer due diligence procedures.

Mental incapacity of Donor

In England, Wales and Northern Ireland, once the Donor of an Enduring Power of Attorney (EPA) becomes mentally incapable, the Attorney has a duty to register the EPA with the Office of the Public Guardian (OPG) in England and Wales, or the Office of Care and Protection in Northern Ireland. NS&I would need to see any such registered EPAs so we can note our records accordingly.

Managing holdings

The way each holding can be managed varies from product to product, and there are some limitations to online functionality for Attorneys and Deputies managing Premium Bonds. For further information, please get in touch.

Call us

Product How can I apply How can I manage them
65+ Guaranteed Growth Bonds No longer on sale Online, phone and by post
Premium Bonds Post - standard application form Online, phone and by post (note - some limitations apply to online functionality)
Direct ISA Post - bespoke PoA application form Online and phone
Direct Saver Post - bespoke PoA application form Online and phone
Income Bonds Post - bespoke PoA application form Online, phone and by post
Investment Account Post - standard application form Post
Investment Guaranteed Growth Bonds No longer on sale Online only
Fixed Interest Savings Certificates Post - bespoke PoA application form (when on general sale) Manage† online or by phone (when registered for this service), or by post
Index-linked Savings Certificates Post - bespoke PoA application form (when on general sale) Manage† online or by phone (when registered for this service), or by post
Guaranteed Growth Bonds Post - bespoke PoA application form (when on general sale) Manage† online or by phone (when registered for this service), or by post
Guaranteed Income Bonds Post - bespoke PoA application form (when on general sale) Manage† online or by phone (when registered for this service), or by post

† The following can be carried out online/by phone for applicable holdings:

  • partial repayment/withdrawal
  • full repayment/withdrawal
  • closure (however instructions at maturity can only be given by post)
  • change of nominated bank details

*Regional variations

  • Donor is known as a Granter in Scotland
  • A Court of Protection Order is known as a Guardianship Order in Scotland
  • A Deputy is known as a Guardian in Scotland and a Controller in Northern Ireland

**Documentation requirements

Power of Attorney

Any copy of a POA must be certified as being a true and complete copy of the original document on each page and signed personally on each page by one of the following:

  • the Donor (while they have mental capacity)
  • a solicitor
  • a notary public
  • a stockbroker (NOTE – a stockbroker cannot certify a Lasting Power of Attorney)

Court of Protection Order (England and Wales)

Sight of an acceptable copy of the Order is required. We can accept:

  • An original Order sealed or stamped with the seal or stamp of the COP
  • COP Office copies (with blue stamp)
  • Certified copies of the original or Office Copy are acceptable. The person certifying the copy is certifying that it is a true and complete copy of the original document. Certification to appear on each page

Guardianship Order (Scotland)

We must see the Certificate of Appointment issued by the Scottish OPG. We can accept:

  • An original sealed or stamped with the seal document
  • Certified copies of the original are acceptable. The person certifying the copy is certifying that it is a true and complete copy of the original document. Certification to appear on each page

Office of Care and Protection Order (Northern Ireland)

We must see the authority allowing the Controller to act for the patient. We can accept:

  • Original Office of Care and Protection Orders sealed or stamped with the Court’s seal, which should be visible
  • Certified copies of the original are acceptable. The person certifying the copy is certifying that it is a true and complete copy of the original document. Certification to appear on each page

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