My brother lives alone and suffers from learning difficulties. He does not have good money-management skills so I have power of attorney and receive his bank statements.
His loneliness has meant that sometimes he has become a target for people who take advantage of him. Following a couple of such instances, I made sure he has a passbook to withdraw weekly cash from his current account, rather than using a bank card. He’s known in his local branch which is aware of the arrangement.
I also set up an Isa savings account with the intention that he would not have ready access to it. But, unbeknown to me, he was provided with a card linked to this account. Recently, I became aware of weekly ATM withdrawals of £150, amounting to £6,000. He revealed that these sums were given to a local woman who had befriended him and needed money. Police are involved, but Santander has only refunded just over £2,000. I was offered no explanation.
This is a very sad case. A new voluntary code requires participating banks to refund blameless fraud victims. This should entitle your brother to a refund, since he clearly should not have been issued with a card to access his Isa, given the bank was aware of his vulnerability.
Moreover, branch staff should have questioned his withdrawals, for it transpires that he has taken out more than you realised, some over the counter at his local branch. It was these in-branch withdrawals that were covered by the refund.
Santander says it had been awaiting further information from you about the ATM transactions. It’s now agreed to reimburse these as well. It says: “Santander has the utmost sympathy for all who fall victim to the criminals who carry out these scams. We can confirm that, based on the circumstances of this case, we will provide a full reimbursement.”