Follow
Share

To give us options on protecting his money. Bank is going to close his accts.

This question has been closed for answers. Ask a New Question.
heavenlyhexed, we really need more information.... such as is your Dad of sound mind? I see from your profile your Dad lives in his own home... does he need someone caring for him for any reason?

Have you asked your Dad why he is drawing out so much money? Is he moving the money from bank to bank, or has found other investments he prefers to use... maybe he doesn't realize that banks can wire transfer money. Is your Dad playing cards? Or do you think he's wrapped up in one of those scams where he needs to buy a money-gram to send to someone?

Why would the bank want to close his accounts? A bank wouldn't do that unless the balance has been zero for a certain length of time, or his balance is low and bank fees would eventually close the account.
Helpful Answer (2)
Report

He needs a Guardian, unless there is a legitimate reason for the withdrawals.
Helpful Answer (0)
Report

I would think that consulting an attorney that specializes in elder law would be the thing to do. Is there still money in his accounts? How can the bank close them otherwise? You might need to place the money in an account where he has no debit card or hide the checkbook. Not sure what your legal options are. Do you have Power of Attorney?

Just out of curiosity, what does he do with the money he withdraws? Does he carry it around with him, give it away, hide it in the mattress?
Helpful Answer (1)
Report

This question has been closed for answers. Ask a New Question.