Whatever the reason that keeps you away from your post office (illness, long trip, hospitalization, etc.), you may be required to give power of attorney to a trusted person. Among your entourage, choose the agent who will carry out the banking operations for you. But first, find out what this procedure really consists of: definition, steps to take to request a power of attorney and cancel it if necessary. And also take inspiration from our model letter to cancel your power of attorney. Everything you need to know to make a power of attorney for the Postal Bank.
Summary
What is the bank power of attorney?
The bank power of attorney is an operation which consists in allowing another person to operate your account. It is a written procedure. The beneficiary of the power of attorney is called an agent. And the principal designates the one who gives power of attorney.
The agent can withdraw and deposit money into the principal’s account. Indeed, the power of attorney allows you to let a third party use your own La Banque Postale account. However, you remain responsible for the operations carried out by your agent, even if he does not respect your wishes. For example, in the event of an overdraft on your bank account, you are held liable.
The mandatary is often a family member, but this is not part of the obligation. This can be a trusted person among your entourage (friend, family doctor, etc.). And also be aware that a power of attorney can be given to several agents.
To note : the bank power of attorney should not be confused with curatorship or guardianship. The principal remains completely autonomous and retains his rights to his accounts and income.
The powers granted to the agent in a power of attorney
Over a given period, the power of attorney delivers a certain number of powers to the agent. Beforehand, choose the scope of its field of action. And when signing the document, mention whether it is a general or limited power of attorney.
In the case of a general power of attorney, the agent can subscribe, modify or terminate products and services. It can also carry out withdrawals, transfers, deposits, issuing checks or placing stock market orders.
In the event of a limited power of attorney, you can determine the type of operation carried out by the agent: use of the check book, transfer, payment with your credit card, etc. You also have the option of setting a maximum amount.
In any case, before making your decision, you should think carefully about the terms of your power of attorney before signing it.
How to make a power of attorney at the Postal Bank?
To give power of attorney on your account, whether you are a capable adult client or an emancipated minor, you must comply with the following procedure:
- go to the post office accompanied by the trusted person (agent) to whom you wish to give power of attorney;
- you can make a power of attorney request on your bank account(s) as well as on your savings accounts;
- you and your representative must then present supporting documents: valid proof of identity for both and proof of address less than three months old for the representative;
- then, jointly sign the proxy request. This is a form available only on site, in your post office.
To know : if you are physically unable to travel to the post office, you can establish a power of attorney by notarial deed. The agent then goes to the post office with the notary’s power of attorney and the supporting documents to make the power of attorney request.
Why use a bank power of attorney?
There is no exhaustive list. Indeed, several diverse and varied reasons can explain the use of a bank power of attorney. As soon as you are likely to no longer be able to intervene yourself, you can appoint an agent.
Here are the most common reasons:
- long-term hospitalization;
- long trip ;
- anticipation of a loss of autonomy…
In any case, know that you do not have to justify the reason for your power of attorney on a bank account. Your adviser will not ask you to justify your wishes. And you can absolutely continue to use your account despite the use of power of attorney.
Read also: How to make a transfer to the Postal Bank?
Can the Postal Bank refuse a proxy request?
Banking institutions have the right to refuse a request for a bank power of attorney for various reasons:
- in case of doubt about your capacity for discernment;
- in the event of suspicion of abuse of weakness on the part of the agent;
- in case of guardianship or curatorship. If you do not have legal capacity, a bank power of attorney cannot be issued to you;
- if you are banned from banking or if the agent is registered with the Banque de France.
Whatever the reason for refusal, the Postal Bank is required to provide you with explanations, without betraying professional secrecy.
When does a bank power of attorney at the Banque Postale end?
A power of attorney at the Banque Postale may be terminated at any time, at the request of the principal or agent. The request must be made in writing.
If it is a fixed-term and non-renewable power of attorney, the procedure ends at the end of the planned term.
Finally, in the event of the death of the principal, the bank power of attorney ends automatically.
How to cancel a bank power of attorney?
First, know that you are in your right to cancel your power of attorney at any time. Indeed, you can reconsider your decision without problem. And the agent can also request the cancellation of the procedure.
Then contact your La Banque Postale adviser to submit your wish to end the bank power of attorney. You will also have to provide him with a registered letter with acknowledgment of receipt. In your letter, mention the names of the persons concerned (agent(s) and principal) as well as the account number(s).
Sample letter to cancel a bank power of attorney
Last name First Name
Full address
To the attention of,
Name of your advisor
The postal bank
Contact details for your post office
Date, place
Subject: request for cancellation of a bank power of attorney (registered letter with AR)
Dear,
I have granted (identity of agent) a power of attorney on my account (No. XXX). By this letter, I wish to put an end to the procedure, as of today.
(Please request from (identity of agent) the means of payment in his possession.)
Please accept, Madam/Sir, my sincere greetings.
Signature
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