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Banking App cash cards worked for us

by Matthew Harrison | Nov 26, 2020 | in Banking and dementia

Once I had got Lasting Power of Attourney registered for my father's bank accounts, (we were lucky to do it in time before he lost capacity) I was able to put in place a new cash card account that allowed him, and then later his carers, to carry out financial trasnsactions and remain independent for longer. I used a Monzo account (in my name), and provide the card to my father, and later his carers. The account was managed through an App on my phone that allowed me to see transactions in real time (with notifications), and freeze the card if it went missing. I could manage the amount of cash in the account, to limit the amount at risk, and top it up quickly with my phone when needed. It took the issue of trust with his carers off the table as I was able to see all trasnactions. This arrangement facilitated greater freedom and independence for my father and his carers were able to accompany him on more activities and outings, shop for groceries and clothes. This and 'Find my iPhone' (so i could locate him when lost) were the two digital tools that above all prolonged his independant living at home.

(I have no connection to Monzo other than as a customer, and I believe there are multiple similar banking Apps available).

A formalised banking service for this type of use case would be helpful to others,  with appropriate guidance and support in getting set up would be useful. ( I was possibbly breaking the T&Cs of the accont by giving my card to Dad's carers).

Photo by Paul Felberbauer on Unsplash

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