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| Bristol & West in policy u-turn Elderly or disabled people often set up an EPA People unable to manage their own financial affairs but who hold a registered Enduring Power of Attorney now have access to all Bristol & West savings accounts. The bank was forced to review its policy on remote access accounts paying the best rates of interest after a recent case involving online bank Smile. The Disability Rights Commission called on all banks to change policies after it emerged that many refused to let attorneys access all accounts and services. DRC Chief Executive Bob Niven said at the time: "The Disability Discrimination Act clearly states that disabled people should have the same access to goods and services - including financial products - as non-disabled people" The issue came to light when Professor Peter Willetts, who holds an EPA for his disabled father, tried to open a Smile savings account. His application was rejected. The DRC took on his case claiming the bank was in breach of current disability discrimination laws. Smile subsequently agreed to change its policy and settled with Professor Willetts out of court. Other banks and building societies vowed to review their policies to give EPA holders access to better paying accounts but Bristol & West said they saw no need to do anything. On making the announcement of the about turn, Bristol & West's Managing Director, Craig Knight, said: 'It has never been our intention to exclude elderly or disabled people from any of our products". The Disability Rights Commission is delighted with the outcome. Managing Director Bob Niven announced: "It is important that disabled people and those that act for them in their financial affairs can now open accounts that often have a higher rate of interest. The Bristol and West, along with all the other banks, should be applauded for getting their services right for all their disabled customers." Online bank Cahoot informed Money Box they will be launching a new savings account in July which will be available to people holding EPA. A number of other banks including First Direct, Alliance & Leicester and Barclays are still looking into how they can improve access. Radio 4's Money Box is broadcast on Saturday at 1200hrs and Monday at 1500hrs. |
From BBC Business News
See also: 01 Jun 02 | Research 01 Jun 02 | Research 01 Jun 02 | Research Internet links: The BBC is not responsible for the content of external internet sites Links to more Moneybox stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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