Throughout your life there may be times when you want to authorise someone to manage your finances on your behalf. Alternatively, you may be helping a loved one who is no longer physically or legally capable of making their own financial decisions, or who needs support to manage their accounts.
Select from the actions below to learn more about your options based on your own circumstances.
Select from the actions below
Options to give someone access to your account(s)
If you want to give someone access to your account(s), you can read more about your options below.
Whenever you give someone else access to your finances it can increase your risk of financial abuse or economic harm. We encourage you to seek legal advice before granting someone access to your accounts or to manage your finances. Take a look at our Financial abuse guide for more information, including how to protect yourself and find support.
Authority to Operate
What is an Authority to Operate?
An Authority to Operate allows you to give someone else access to specified bank accounts on your behalf. You can complete an Authority to Operate form at any ASB branch for free.
What can an Authority to Operate do?
You may choose to give someone authority to operate your accounts if, for example, you're unable to manage your banking for a period of time, such as while travelling or staying in hospital.
What if I have a joint account?
If the account is jointly owned, all account holders must agree to give the authority.
When does it end?
Once set up, the Authority to Operate will remain in place until you ask us to remove it. The authorised person will continue to have access to the specified accounts until then.
Standard Power of Attorney
What is a Standard Power of Attorney?
A Standard (or 'Ordinary') Power of Attorney is a legal document that needs to be created with a lawyer. It cannot be created at ASB, but we can help you once you have the documentation.
A Standard Power of Attorney allows one person (a 'donor' or 'principal') to give another person or company (the 'attorney') legal authority to act on their behalf. The donor must have mental capacity when they set up the documentation with a lawyer. The attorney must always promote and protect your welfare and best interests.
What can a Standard Power of Attorney do?
With a Standard Power of Attorney, you can continue to manage your own affairs while also having help from your attorney. You can choose how much power your attorney has, for example it could be a general power to look after all your money or property, or it could be more specific to a particular account.
What if I have a joint account?
A Power of Attorney can apply to one owner of a joint account. If you appoint an attorney, you must advise the other joint account holder.
When does it end?
A Standard Power of Attorney is immediately revoked (invalid) if you become incapable of making decisions, or if you die.
Enduring Power of Attorney
What is a Enduring Power of Attorney?
An Enduring Power of Attorney is a legal document that needs to be created with a lawyer. It cannot be created at ASB, but we can help you once you have the documentation.
An Enduring Power of Attorney allows one person (a 'donor' or 'principal') to give another person or company (the 'attorney') legal authority to act on their behalf. The donor must have mental capacity when they set up the documentation with a lawyer. The attorney must always promote and protect your welfare and best interests.
Unlike a Standard Power of Attorney, an Enduring Power of Attorney can continue to be used if you become mentally incapable of making decisions.
Life can be uncertain and anyone at any age can have an accident or be hospitalised with a serious illness. This makes an Enduring Power of Attorney a helpful way to protect your future, should something happen to you, because a spouse, partner or next of kin isn't automatically entitled to step in to manage your finances.
What can an Enduring Power of Attorney do?
There are two types of an Enduring Power of Attorney:
- Enduring Power of Attorney for Property, meaning the person can manage everything you own including bank accounts and investments.
- Enduring Power of Attorney for Personal Care and Welfare, meaning the person can make decisions such as where you live and how you are cared for. If you only have an Enduring Power of Attorney for Personal Care and Welfare, this does not grant access to bank accounts/finances.
When you set up your Enduring Power of Attorney with your lawyer, you can choose 'Property' or 'Personal Care and Welfare', or both.
What if I have a joint account?
A Power of Attorney can apply to one owner of a joint account. If you appoint an attorney, you must advise the other joint account holder.
When does it take effect?
You can structure an Enduring Power of Attorney to take effect immediately or so that it only begins if you become incapable of making decisions.
If you have an Enduring Power of Attorney that is set up to only begin if you are incapable of making decisions, a medical certificate or Family Court order stating you are mentally incapable is required to activate it. Your attorney (the person you have granted access to) will not be able to access your accounts until this happens.
When does it end?
A Enduring Power of Attorney is immediately revoked (invalid) if you die.
Comparison of each option
|
|
Authority to Operate
|
Standard Power of Attorney
|
Enduring Power of Attorney
|
Property Orders
|
|---|---|---|---|---|
|
Prepared by a lawyer
|
No, you can complete an Authority to Operate form at any ASB branch for free.
|
Property Orders are granted by the Court, sometimes with support from a lawyer.
|
||
|
Begins immediately
|
An Enduring Power of Attorney for property can begin immediately, or you can choose for it to begin if you were to become mentally incapable of making decisions.
|
|||
|
Stands if you become mentally incapable
|
Often granted due to mental incapacity.
|
|||
|
Functions
|
||||
|
Deposit & withdraw funds
|
For specified accounts.
|
|||
|
Get account balances
|
For specified accounts with staff assistance.
|
|||
|
Pay bills and transfer money
|
For specified accounts with staff assistance.
|
|||
|
Load, alter or cancel bill payments or automatic payments
|
For specified accounts with staff assistance.
|
|||
|
Internet banking access
|
||||
|
ASB Mobile app access
|
||||
|
Card access
|
||||
|
FastPhone access
|
||||
|
Open or close an ASB account
|
||||
|
Managed funds access
|
||||
|
Open or close term deposits
|
||||
|
Sign loan agreements
|
Help someone else with their banking
If you want to help someone with their finances, how you can help will depend on the circumstances and whether the person you are supporting is considered incapable of managing their money. We've outlined some common scenarios below.
- For someone to be considered 'incapable' of managing their own finances, a medical certificate or Family Court order stating the person is mentally incapable is required.
- If the person you are supporting has not been assessed by a medical professional and considered mentally incapable, they will need to make the decision to provide you with access to their accounts. You cannot make that decision on their behalf.
The person you are supporting is mentally capable but just needs a little extra support
If the person you are supporting is mentally capable, they will need to make the decision to provide you with access to their accounts. You cannot make that decision on their behalf. To learn more about the different options, go to Options to give someone access to your account(s).
The person you are supporting will need to read through the options and decide what is best for them and their circumstances, and who they think is best to help them.
The person you are supporting has become mentally incapable and does not have any legal documentation in place
Sometimes a person unexpectedly becomes mentally incapable and needs support. In these cases, if an Enduring Power of Attorney was not set up in advance when the person had capacity, the only option is to apply for access via the Family Court.
Depending on the annual income of the person you are applying to care for, you will need to apply for:
- An Order to Administer Property or,
- An Order to appoint a Property Manager
You can find more information on the two options and how to apply on the Ministry of Justice website.
The person you are supporting has become mentally incapable but has previously set up an Enduring Power of Attorney
If the person you are supporting has become mentally incapable, but they have an Enduring Power of Attorney in place:
- If the Enduring Power of Attorney is already active, the Attorney will continue to have access.
- If the Enduring Power of Attorney is structured to begin only once the person loses capacity, the named Attorney can make an appointment at any ASB branch to get set up.
The Attorney will need to come along with the following:
- Identification documentation such as a driver's license, passport or birth certificate.
- Photo identification and proof of address (e.g. utility bill). Here's a full list of acceptable ID.
- The original Enduring Power of Attorney document from the lawyer, or a certified copy (certified by a solicitor or Notary Public).
- A medical certificate or Family Court order stating that the donor is mentally incapable.
If you already have a signed certificate of non-revocation, you can provide that too. Alternatively, we can provide one for you to sign at the branch. There may be other requirements, depending on your situation, but we will tell you about these once we have discussed your circumstances with you.
You want to support your child with their banking needs past the age of 18
Once a child turns 18, parents are no longer considered legal guardians, and the child becomes solely responsible for their own bank accounts. Where parents or guardians may previously have been able to access their child's accounts and provide support, this access is lost when the child turns 18.
If your child is considered mentally capable by a doctor, your child will need to be the one to grant you access. To learn more about the different options, go to Options to give someone access to your account(s). Your child will need to read through the options and decide what they think is right for them and their circumstances.
If your child is considered mentally incapable of managing their accounts (e.g. they have a medical certificate from a doctor stating this), your only option is to apply via the Family Court for:
- An Order to Administer Property or,
- An Order to appoint a Property Manager
You can find more information on the two options and how to apply on the Ministry of Justice website.
Set up an Authority to Operate, or Power of Attorney
When you are ready to activate your Authority to Operate, or Power of Attorney, you can make an appointment at your local ASB branch by giving us a call on 0800 803 804.
Where possible, it's a good idea for both you and your attorney (or the person you are authorising) to come to the appointment together. If you're unable to come into a branch, then your attorney can come on their own.
Please bring along the following to your appointment
- Identification documentation such as a driver's license, passport or birth certificate.
- Photo identification and proof of address (e.g. utility bill) for your attorney or person you're authorising. Here's a full list of acceptable ID.
- For an Authority to Operate, an Authority to Operate form. We can provide one for you to complete at your appointment if it's easier for you.
- For a Standard Power of Attorney, or Enduring Power of Attorney, the original document from the lawyer, or a certified copy (certified by a solicitor or Notary Public).
- For an Enduring Power of Attorney structured to take effect upon becoming mentally incapable, a medical certificate or Family Court order stating that the donor is mentally incapable is required to activate it.
We will also need a signature for your attorney, or the person you're authorising, to keep on file. That way, we can ensure whenever they transact on your account, it is the person you have authorised who is doing so.
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), you can provide that too. Alternatively, we can provide one for your attorney to sign at the branch.
There may be other requirements, depending on your situation, but we will tell you about these once we have discussed your circumstances with you.
Setting up a Power of Attorney issued outside of New Zealand
A Power of Attorney set up overseas can be accepted by ASB, provided it is witnessed by a Notary Public. If the original Power of Attorney document 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.
Making changes or cancelling
You or the authorised person 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.
If there are any changes to your Power of Attorney arrangement, please let us know as soon as possible. Make an appointment at your local branch to bring in your new or updated document.
You can remove a Power of Attorney at any time in person, in writing or over the phone on 0800 803 804. If you choose to remove it over the phone, we will also need written confirmation.
Helpful guides
Support for carers
The above information is only a guide and does not take into account your personal situation.