What To Do if A Bank Won't Honor My Power of Attorney

When a bank creates a roadblock to your power of attorney, don't be afraid to get help.

Banks and other financial institutions often treat powers of attorney with suspicion, and often look for ways to reject your Agent's authority, implying that the document is too old or is not in the right form. Banks sometimes just declare that the power of attorney is no good without giving a reason.

Thankfully many states have laws that do not allow the bank to reject your power of attorney without a valid reason. Most of these laws give the bank a short period of time, usually seven days, to accept the power of attorney, or request your Agent to sign a certification that swears that the document is valid. If the bank does not accept the power of attorney within the time allowed, a local court can force the bank to honor the power of attorney and require the bank to pay any attorney's fees and costs you incur.

If your bank gives you a hard time using a power of attorney, contact the attorney who drafted the document. Usually a call or letter from the attorney to the bank reminding them of these rules is enough to get them to comply.

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