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Power of Attorney (POA) & Authorities

We’ve made it easy to find the information you need to know about giving someone access to your accounts or what we require so you can manage someone else’s banking.

There are different types of authorities to operate that we recognise. You can read more about these below.

Authorising a trusted third party to represent you

If things are a little tough and you’d like someone other than yourself, or a joint account holder, to speak to us on your behalf, please call or send us an email providing authorisation of a third party. You may choose to authorise a third party such as a family member, accountant, solicitor, financial adviser, financial counsellor or someone else whom you trust to liaise with Rabobank on your behalf. Once we receive your email, mail or call, we’ll contact you to verify your authorisation. We will also need to verify the identity of the third party. Keep in mind that you can cancel the third party authority at any time and limit the third party access to certain accounts.

For Farm Business (Rural Banking) customers

Phone: 1800 025 484 (free call), Mon - Fri 6am - 8pm (Sydney time) or call your local area manager. If you’re overseas call: +61 2 8115 2240​

Email: Sydney.client.services@rabobank.com​

Mail: Client Services Manager, Rabobank, GPO Box 4577, Sydney, NSW 2001 ​

For Rabobank Online Savings customers

Visit our website: https://www.rabobank.com.au/banking/financial-hardship/​

Phone: 1800 445 445 (free call), Mon – Fri 6am – 8pm Sydney time). If you’re overseas call: +61 2 8115 2558 ​

Email: clientservicesAU@rabobank.com

Mail: Client Services Manager, Rabobank, GPO Box 4577, Sydney, NSW 2001​

Financial Counsellors

A Financial Counsellor provides free, independent expert advice and support to individuals who are experiencing financial hardship. 

If you’re using a Financial Counsellor and would prefer Rabobank to discuss your situation with them directly on your behalf, please let us know.  To provide authorisation, the Financial Counsellor will need to send or email us the following completed documents:

  1. Financial Counsellor Cover Letter (Click here for the template); and 
  2. Financial Counsellor Agency Letter (Click here for the template), as the account holder.

For more information about how we work with Financial Counsellors, refer to the Financial Counselling Agency Guide produced by Financial Counselling Australia

More about Financial Counselling

If you’d like to find out about professional financial counselling and the services available, go to Financial Counselling Australia’s website: (http://www.financialcounsellingaustralia.org.au/) or phone the toll-free number on 1800 007 007. 

 

Planning ahead

Sometimes unexpected things happen, or you may need someone to handle your affairs, or you could be planning for the future. This could be because you may have been injured in an accident, going on a holiday or working overseas or looking at entering aged care. This page provides you with information on how to plan ahead, information about powers of attorney.

What is a Power of Attorney?

A power of attorney (POA) is a legally binding document that gives a trusted individual(s) the power to act in your best interests and to manage your assets and make financial and legal decisions on your behalf.

There are 3 types of POA:

  • Enduring Power of Attorney: A legal document in which you appoint a trusted individual(s) to make independent and informed decisions in relations to you financial and legal affairs, which continues even if you no longer have the capacity to manage you financial and legal affairs. We recommend you seek legal advice before entering into this type of authority and inform your attorney of your wishes while you have the capacity to do so.
  • General (Non-Enduring) Power of Attorney: A legal document in which you appoint a trusted individual(s) to manage financial and legal decisions on your behalf, only while you have the ability to make your own decisions. This can be for a period of time or a particular purpose. The authority will be revoked if you are no longer capable to make decisions, or you are no longer legally capable to manage your financial affairs. We recommend you seek legal advice before entering into this type of authority.
  • Supportive Power of Attorney (Victoria only): A legal document in which you appoint a trusted individual(s) to assist you by collecting and communicating information on your behalf or to do anything that is reasonably necessary to implement a decision (not including significant financial transactions). Unlike a power of attorney arrangement, a supportive power of attorney arrangement does not enable an attorney to make decisions on your behalf. We recommend you seek legal advice before entering into this type of authority.

It is important to:

  • understand the implications and consequences of setting up a POA, so we recommend that you seek independent legal advice before deciding to appoint an attorney.
  • choose someone you trust as your attorney. You need to feel confident that they will act in your best interests. This person could be your spouse, child, another relative or friend. Alternatively, it could be an independent person, such as the Public Trustee, or your solicitor. Whoever you appoint needs to understand their responsibilities and legal obligations as an attorney. Some people prefer to appoint two people jointly to be their attorney. No matter who you appoint, we would advise that you discuss you decision with your family, so everyone knows and understands you wishes. We would also advise engaging a lawyer who can provide you with legal advice on appointing a suitable power of attorney. 

A POA must meet all legal requirements, otherwise Rabobank will not be able to accept it. Also, each state and territory have different POA requirements around the content and format of a POA. 

Setting up a POA at Rabobank

There are requirements that need to be met before Rabobank can accept a POA to be effective on your account. Some of the requirements are set out below, however Rabobank may request additional information depending on your situation. Rabobank requires:

  • the original POA or a certified copy of the POA. The certified copy must be certified by a person authorised to do so in your state or territory.
  • the POA be correctly completed and executed by yourself, the attorney(s) and witnesses.
  • the POA to meet Rabobank’s identification requirements (drivers' licence or passport) from you and the attorney(s).

On receipt of the POA, Rabobank will undertake a review of the POA to confirm:

  • the POA is complete and valid;
  • who you have appointed to act under the POA; and
  • the powers given to the person(s) you have appointed (including any limitations or special conditions).

Please note that this can take a few days, although it may take longer depending on the complexity of the POA.

If you urgently require the POA to be effective on your account, please let us know so the review of the POA can be escalated, as Rabobank will always look at ways to support you.

How to get a POA added to your Rabobank Online Savings Account:

  • please complete the following form: Power of Attorney (ROS). 
  • please ensure the copy of the POA is validly certified. 
  • please provide proof of identity (drivers licence or passport) for you and your attorney(s). 
  • once completed, please post this to: Rabobank Online Savings Reply Paid 4715 Sydney NSW 2001 or email it through to: ClientServicesAU@Rabobank.com.

How to add a POA to your Loan or Farm Deposit Account (e.g., Call or Term, Cash Management Account, Farm Management Deposit):

  • Please reach out to your respective account manager and they will assist in adding this to your account. You will need to provide a valid certified copy of the POA and proof of identity (drivers licence or passport) from you and each attorney.

Once you become dependent on others for your day-to-day care or social contact, you can become more vulnerable to financial abuse. Financial abuse (which includes elder abuse and electronic transaction abuse) can happen to anyone, particularly when a person might be dependent on others for their day-to-day care or social contact. 

Financial abuse occurs when someone takes away another person’s access to money or other financial resources, manipulates another person’s financial decisions, or uses another person’s money or financial resources, without their knowledge or consent. Financial abuse can limit a person’s access to a safe home, adequate food or medical care.

A ‘financial abuser’ can be someone you have known for a very long time, or someone you hardly know. A ‘financial abuser’ can also be someone that is employed to take care of you.

If you have concerns about an existing POA set up on your account, please contact Rabobank immediately. We understand that it can be very hard to talk about, report or stop financial abuse. If you suspect financial abuse is occurring, please speak with one of our staff members separately from your support person, friend or carer. When you tell us that you suspect financial abuse is occurring, depending on your personal circumstances, we will look at ways to support you.

Frequently Asked Questions

1. How do I revoke/change a power of attorney?

Once any changes to, or revocation of a power of attorney arrangement have been made, and the relevant parties have been notified, please contact Rabobank.

2. Who should I choose as my attorney?

It’s important that you only give authority to someone you trust and who will look out for your best interests. Please seek independent legal advice. Click here or for more information.

3. What’s the difference between a power of attorney and an authorised signatory? 

A power of attorney is a legal document whereby you give an attorney(s) the power to act for you and to make decisions relating to your legal and financial affairs (subject to conditions or limitations).  The power of attorney can be effective immediately, for a specified timeframe or where you are no longer able to manage your affairs.  This depends on how you decide to prepare the power of attorney.

An authorised signatory is arranged directly with Rabobank and means that you authorise a person(s) to have access to one or more of your accounts with Rabobank.  The authorised signatory will be able to manage the account(s) in a similar way to you.  Although, such authority will be cancelled if Rabobank becomes aware that you are no longer able to manage your financial affairs.

4. How many powers of attorney can I add to my account?

You may give a power of attorney, or enduring power of attorney, to multiple people. If appointing multiple attorneys, it is best to choose trusted individuals who can cooperate and work collaboratively in your best interests.

 

External support services

Here is additional information and assistance with regard to Powers of Attorney and managing your financial affairs. Each state and territory have different arrangements.

Power of Attorney, Guardianship and Administration

Supported Decision Making

Living With Dementia

  • National Dementia help line on 1800 100 500. The National Dementia Helpline is a free telephone service that provides information and advice to:
    • People living with dementia.
    • People concerned about changes to memory and thinking.
    • People with Mild Cognitive Impairment (MCI).
    • Family, friends and carers of people living with dementia.
    • People who work in health and aged care.

Support and Advocacy

Cyber Security

Financial Abuse and How to Protect Yourself