Third Party Mandate
When to use a Third Party Mandate?
- A third-party mandate is a document that tells your bank, building society or other account provider they can accept instructions about your money from a specific named person.
- It gives that person the authority to run your bank account (but no other financial arrangements) for you.
- If you have the right to handle the account of someone who has mental capacity, you have a ‘third-party mandate’. A third-party mandate is not appropriate if the account holder is losing the ability to make relevant decisions themselves.
- You, as an account holder with Cynergy Bank, can request a Third Party Mandate from us so that you can nominate someone to operate and access your account(s) and can be used for all account types.
- This can be used as a stand-alone document, in cases where customers hold full mental capacity (a person has mental capacity if they have the ability to understand, remember and act upon appropriate information and so can reliably make decisions for themselves) and would like a third party to have access to their account on their behalf. It is important to note that this document will only be valid for Cynergy Bank and will become void if the customer loses mental capacity or in the event of death.
- Security and protection of your account(s) is our key priority, and using this Third Party Mandate, we will be able to verify the individual when they use the Bank’s services.
- A Third Party Mandate will also need to be completed if you have obtained a Power of Attorney or Court of Protection Order. This is so that the Bank is able to obtain the attorneys personal details and specimen signature. The attorney will also need to sign the declaration confirming Cynergy Bank can conduct electronic checks on the attorney and that the attorney agrees to the conditions of the products that they will be overseeing.
You may download a Third Party Mandate here and complete it before contacting the Bank.
Please read the Third Party Mandate form thoroughly and, if your Attorney is not authorised to do all of the actions set out in ‘What can a Power of Attorney do?’ then please do let our Customer Service team know.
Please note that if you have applied for an Online Easy Access Account with a Power of Attorney in place, you do not need to complete a Third Party Mandate as the attorney's details have been captured as part of the application. Instead, the attorney will need to print the short declaration from the email they will receive confirming the Donors Online Easy Access Application. The short declaration will need to be completed by the Third Party and submitted with the relevant Power of Attorney documents.
Please click here to return to the main page to see what other requirements need to be met.