Can a Bank Refuse to Accept a Power of Attorney in British Columbia?
This answer covers the law of British Columbia.
Yes, in practice a bank can hesitate or turn you away, even when you hold a valid enduring power of attorney, and how banks handle these documents varies by institution. Federally regulated banks have voluntarily committed to make information about powers of attorney available to clients.
A bank's concerns often match the legal conditions for the document to work. The attorney must also sign the document in front of 2 witnesses before acting. It takes effect on the latest of signing by the adult and an attorney, any stated effective date, or confirmation of a named event such as incapacity. If it starts only on an event, it must say how and by whom that is confirmed. A power of attorney made outside BC is treated as enduring in BC only if it continues on incapacity and meets prescribed requirements, including a solicitor's certificate.
If a bank keeps refusing, ask which requirement it says is unmet. An attorney may also apply to the BC Supreme Court for directions on the scope of their powers and duties, or for an order releasing information. A lawyer can help you decide next steps.
Key takeaways
- How a bank treats a power of attorney depends on its own practice, which varies by institution.
- The attorney must sign in front of 2 witnesses before acting, and a document that starts only on an event must say how that event is confirmed.
- A power of attorney made outside BC is treated as enduring in BC only if it continues on incapacity and meets the prescribed requirements, including a solicitor's certificate.
- An attorney may apply to the BC Supreme Court for directions on their powers and duties, or for an order releasing information.