I hold a valid power of attorney for my mother, but when I tried to use it at her bank, the bank refused to recognize it. Why would the bank refuse to honor a valid legal document?
As a holder of a power of attorney (POA) for a loved one, it can be incredibly frustrating when a bank refuses to recognize this legal document. You may believe that you have the authority to act on your mother’s behalf, but banks sometimes take a cautious approach when it comes to powers of attorney. Let’s explore some common reasons banks might refuse to honor a valid POA and what you can do if you find yourself in this situation.