Power of Attorney

1. Can I apply for an ATM Card?

Yes, you can apply for an ATM card when you open a Basic Banking Account with Independence.

2. Can I withdraw cash at a branch?

Yes. Simply present your ATM card or your Basic Banking Account with Independence account number, and your ID to a teller.

3. Can I use my ATM card to manage my other accounts?

No, your newly-issued ATM card can only be used to access your Basic Banking Account with Independence.

4. Can I manage my Basic Banking Account with Independence via online or mobile banking?

No but you can manage it at a branch, or by calling our phone banking service on 2233 3000.

1. Why do I need to sign the declaration?

This protects you and the customer living with dementia. The declaration sets out the responsibilities and liabilities that come with overseeing a Basic Banking Account with Independence.

2. Do I have to open a Basic Banking Account with Independence once I register an Enduring Power of Attorney with the bank?

No, opening such an account is optional. Once an Enduring Power of Attorney has been registered with us, the customer living with dementia will have their access to their primary accounts removed. However, a Basic Banking Account with Independence will allow them to retain some independence and access some of their funds.

3. How do I monitor transactions made with a Basic Banking Account with Independence?

We will send monthly account statements to the correspondence address registered for the Basic Banking Account with Independence. You can also visit a branch at any time to check the latest account balance and transaction history.

Please note that if an account has zero balance and no transactions made within a statement cycle, no statements will be issued for that month.

4. How much money should be kept in a Basic Banking Account with Independence?

The account serves as a source of pocket money for the customer living with dementia, so we don't recommend keeping a large amount of money in the account. A balance that can cover the customer's everyday expenses should be enough.

5. Can the customer living with dementia get a credit card or a loan as part of their Basic Banking Account with Independence?

No, we don't provide these services to customers who hold a Basic Banking Account with Independence. This way, we can minimise their exposure to potential financial risks.

1. What is a Power of Attorney?

It is a legal document that appoints one or more persons (your Attorney or Attorneys) to make decisions for you (the Donor).

2. What is a Donor?

A Donor is an individual who wishes to give another person/persons the authority to act or make decisions on the Donor's behalf.

3. What is an Attorney?

An Attorney is a person appointed to look after the finances/property and affairs/health and welfare of another person (the Donor). An Attorney may be appointed under a Power of Attorney or an Enduring Power of Attorney.

4. What documents will I need to bring with me to register a Power of Attorney?

We will need to see:

• the full Power of Attorney document, either the original or a copy certified by a qualified solicitor in Hong Kong
• identification documents and proof of address for each Attorney (please see 'Points to note for Power of Attorney set' for examples of documents we accept)

If you're registering an Enduring Power of Attorney, it must be registered with the High Court in Hong Kong before you visit us. You'll also need to bring a medical certificate confirming the mental incapacity of the Donor on your visit.

5. How long will it take to register a Power of Attorney with HSBC?

It will generally take 4 working days, but if we need additional information, it may take longer.

6. How will I know when the Power of Attorney has been registered with HSBC?

Once the Power of Attorney has been registered with us and we've updated our records, we will send confirmation:

• by text message, if the Donor has a registered mobile number
• by post, if the Donor has a registered correspondence address but no registered mobile number

7. What happens if the Donor becomes mentally incapacitated?

The Power of Attorney or Letter of Delegation will be revoked or cancelled if this happens.

Only an Enduring Power of Attorney will remain valid even after the Donor becomes mentally incapacitated.

8. Can I appoint more than one Attorney?

Yes, you can. If you appoint more than one Attorney, you'll need to specify whether they are to act:

• 'jointly', ie together at all times
• 'jointly and severally' / 'jointly and individually', ie together or individually

If you do not specify which one, we will require that all the Attorneys act 'jointly'.

9. What happens if I appoint a Solicitor or a law firm as my Attorney?

The same process would apply as if you had appointed an individual.

10. What happens if the Donor passes away?

The Power of Attorney/Enduring Power of Attorney/Letter of Delegation and the Attorney's authority would be revoked or cancelled.

11. What if the Power of Attorney was executed overseas?

We can accept a Power of Attorney that was executed overseas if it meets all of these requirements:

• the Power of Attorney document was written in English or Chinese. If it's in another language, we will need to see a translated copy that has been certified by a solicitor as a true translation of the original
• we receive the legal opinion from a solicitor practising in the place where the Power of Attorney was executed, confirming that the Power of Attorney is still in force and grants the necessary power to the Attorney for the relevant transactions in accordance with the relevant overseas law
• you (the Donor) can confirm with us that you have granted a Power of Attorney to the Attorney in the relevant country and that it has not been revoked

We can accept a copy of the Power of Attorney (instead of the original version) if it has been certified by a solicitor practising in the place where the Power of Attorney was executed. Each page of the copy must be signed by the solicitor along with confirmation that the copy is a true and complete copy of the corresponding page of the original document.

Please note that we do not accept foreign Enduring Powers of Attorney.

12. What happens if the Power of Attorney document contains restrictions?

We will need to comply with the restrictions listed in the Power of Attorney document. This may mean that your Attorneys won't be able to access all of our services. We may ask you for additional information and the registration could take longer.

13. What does 'jointly' / 'jointly and severally' / 'jointly and individually' mean?

'Jointly' means that all of the Attorneys must act together at all times.

'Jointly and severally' (sometimes referred to as 'jointly and individually') means that the Attorneys can either together or individually.

14. Can an Attorney use phone banking to access the Donor's account?

No, Attorneys can't access or manage the Donor's account by phone banking.

15. Can an Attorney use online or mobile banking to access the Donor's account?

No, Attorneys can't access or manage the Donor's account by online or mobile banking.