Why is the bank stating we need a doctor's letter to use a POA?

I hate banks. They gave their own rules apart from the rules and laws of one's state. It's been my experience that it's better to work with them than to fight them. POAs are, frankly, loosy-goosy, frankly. You present your POA to the bank, they let you draw out money. Mom comes to them two weeks later and says, "I revoked that POA three years ago. Give me my money."

See the problem? If you are at ALL able, hire a medivan and take mom to the bank with you. Bring her driver's license or state I.d. And the POA.

"Mom wants me to start handling her finances now. Here's her ID and the POA for your files. Right, mom?" If she's like my mom, she'll smile and say yes. If not, just plow forward. In most cases, that'll be the end of it.

If you can't get her to go with you, then go to her primary care physician and ask for a letter that says leaving home is too difficult. If they want something that says she,s incompetent, that's going to be a problem.

I agree with what Maggie said. POAs are really too easy to assign. Banks have probably had bad experiences with them. I may also be reluctant to do serious business transactions with someone who has a POA unless I had complete understanding of the situation. Even if the POA is legit, there is always the chance that they could be abusing the trust placed in them for their own benefit. I think the banks are right being cautious in working with them. We have heard of a few cases here on AC where the POA may have been misused.

I'm assuming the bank is looking for proof that mom is unable to tend to her affairs. I've had a mixed bag of experiences from banks using my POA. I agree with Maggie, it's usually easier to jump through the hoops and I hate banks too, almost as much as insurance companies.

It's probably the wording on the POA that is the issue. POA is done in a way that implies that it's a "springing" POA….it springs into action IF they are unable to do for themselves and you need corroboration - the doctors note - to state that's the situation.

How was the POA done? at a law office with witnesses and has notary seal OR was it off the net or a form gotten at a senior services program?

This is not true. As long as you are POA it should not matter have you tried a different branch!?

I took my mom to the bank right after I got the POA, there were papers for my mom to sign and her Financial Adviser was able to make phone calls to Transamerica to get their formed emailed and signed. I'm glad the bank was looking out for my mothers interest, even though her Financial Adviser has met me before.

Sometimes it helps to have a bill from the rehab or facility with you when you make the transfer. WxllsFaXXo....... is the absolute WORST when dealing with POA's.
I have a friend who had to take them to court when they were the executor of an estate....seems they wanted to make the most of their 2%.

The POA depends on what the document says for activation. Some require a declaration of incompetence, while others activate upon signing the document. You must look at the specific wording in that POA document, as each document can vary tremendously.

I had no issues with the bank, however, one of the investment companies is driving me up a wall. I guess it's better that they are trying to prevent fraud, but it's a real pain when everyone has gone thru the trouble to get the legal documents in place.