If you'd like someone else to operate your accounts on your behalf, you can do this by giving them an Authority to Operate your acccounts or by appointing them as your attorney under a Power of Attorney.
This guide explains a little about these two options and how they may be put to use.
If you have a joint account and are giving someone Authority to Operate, all owners of the account must agree to give that person Authority to Operate the joint account.
You or your agent can cancel an Authority to Operate at any time. You can notify us in person, by signed letter, or over the phone by calling 0800 803 804.
There are other reasons an Authority to Operate might be cancelled, such as the death of the original account holder.
Please contact us with any questions.
A Power of Attorney is a legal document that one person (a 'donor' or 'principal’) gives to another person or company to act on their behalf (the 'attorney'). A Power of Attorney may give the attorney wider powers over the principal’s affairs than an Authority to Operate. The Power of Attorney document is usually prepared by a solicitor.
There are two types of Power of Attorney – a Standard (or ‘Ordinary’) Power of Attorney and, an Enduring Power of Attorney.
An Enduring Power of Attorney continues despite you becoming mentally incapacitated and unable to make decisions. A Standard Power of Attorney doesn’t continue in these circumstances. Enduring Powers of Attorney might be used as per the Standard Power of Attorney, but also by elderly customers wanting to give their children or loved ones the ability to deal with their property or finances if they become incapable of doing so.
A Power of Attorney entered into by you overseas can be accepted by ASB, provided it is witnessed by a Notary Public. If the original Power of Attorney isn’t available, a copy that has been certified as ‘true and correct’ by a solicitor or Justice of the Peace in New Zealand is also acceptable.
A Power of Attorney can apply to one joint owner of an account. You need to advise the other joint owner if you appoint an attorney to act on your behalf.
It's a good idea for both you and your attorney to come into a branch together. If you're unable to come because you're incapacitated, then your attorney can come on their own.
We need to see an original or certified copy (certified by a solicitor or Notary Public) of the Power of Attorney document. Please also bring with you any other supporting documents.
If you already have a signed certificate of non-revocation (a document declaring that the appointment of the Power of Attorney has not been revoked), lodge that too. Or we can provide one for your attorney to sign at the branch.
There may be other requirements, depending on your situation, but we can tell you about these at the time.
We need to verify your attorney's ID whether or not they're an ASB customer. Your attorney will need to show us acceptable ID (such as a driver's licence or passport) as well as proof of their current address (such as a utility bill with their name on it).
You can remove a Power of Attorney at any time in person, in writing or over the phone on 0800 803 804.
There are other reasons a Power of Attorney might be cancelled, such as the death of either party or bankruptcy of an attorney. Please contact us if you have any questions.
The above information is a guide only and should not be relied on as it does not take into account your personal situation.