Power of Attorney Duties Made Simple
The LPA Management Account is the UK’s first dedicated money management platform designed specifically for family attorneys who are supporting a loved one under the authority of a Lasting Power of Attorney (LPA).Â
Powered by Money Carers award winning financial management engine, Monika. The Monika platform which is used and trusted by over 300 law firms and local authorities, has in the last 12 months processed more than half a billion pounds worth of transactions.
Our new Power of Attorney Account now makes all of the banking, property and money management, document storage communication systems available to family attorneys.
Your Legal Duty of Care
When you are authorised by the Office of the Public Guardian (OPG) to act as the Property and Financial Affairs Attorney for a Donor under a Lasting Power of Attorney (LPA), you will be required to manage that person’s finances with accuracy, transparency and in their best interest.
Our Power of Attorney Management Account has purposely designed functionality that helps attorneys to stay on top of their responsibilities, avoid making common mistakes and provides safeguards for the Attorneys, the Donor, who may well be a vulnerable adult, and also for the carers and support workers who provide everyday care needs.
Just a few of Monika features
- Free of Charge and simple to open*
- Financial Service Compensation Scheme (FSCS) protected
- Buil-in welfare benefit check and entitlement calculator
- Store, view and share DWP letters and other documents
- Prepaid spending cards for loved ones /carers/support workers
- Biometric fingerprint activated debit cards – No PIN required
- Set up automated balance limits on accounts for safeguardingÂ
- Get personalised suspicious payment alerts for fraud monitoring
- Use or Current Account Switch Service to transfer old account
- Instant bank statements online or from smartphone app
- Open Banking Connectivity to view other accounts
- Entry onto the Vulnerability Registration Service database
- Access to expert support from the Money Carer Foundation
- *Royal Mail costs are passed on
