There may be times when you want someone you trust to help manage your banking – whether it’s for a short period or as part of longer-term planning.
Short-term reasons for setting up an authority might include easier day-to-day money management, extended travel, or managing your finances during serious injury or illness. For longer-term planning, nominating someone you trust can help protect your financial wellbeing and ensure you're involved when decisions are being made on your behalf.
Before you give anyone access to your accounts, it’s important to understand what that means. You should only set up account access when you feel safe, informed, and in control.
Feeling unsure?
If you ever feel pressured to share access or something doesn’t feel right, support is available. Get in touch and we can talk through your options with you, confidentially.
Call us on 13 25 77Different types of authority
There are different ways you can allow someone else to access or help manage your banking, including bank-managed authorities, legal arrangements, and shared account options. Choosing the right one depends on your circumstances and the level of control you’re comfortable with.
Authority to Operate
Short-term or limited help with your banking
How it works
An authority to operate lets you give someone you trust limited access to help manage your banking with us. This access is restricted to the specific bank only.
When it’s useful
This option is usually suitable if you still have full capacity to make decisions, want something easy to set up, and don’t need the person to act for you outside of the bank.
What to know
- Set up and managed by the bank
- Ends if you lose capacity to make decisions
- Fewer formal safeguards, managed mostly by the bank
Enduring Power of Attorney
Long-term planning with legal authority
How it works
An Enduring Power of Attorney allows you to appoint someone to manage your finances, property, and make other legal decisions on your behalf.
When it’s useful
This option is suitable if you want formal, long-term arrangements in place for someone to manage your affairs if you lose capacity to make decisions in the future.
What to know
- Set up using forms, a witness, and usually with legal advice
- Continues if you lose capacity to make decisions
- Strong legal safeguards – your attorney must act in your best interests
Joint accounts
Shared access to everyday banking
How it works
A joint account lets two or more people share access to the same account. Depending on how it’s set up, one or all account holders may be able to make transactions.
When it’s useful
This option is usually suitable if you want shared access for expenses, and all account holders are comfortable managing the account together.
What to know
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All account holders have equal responsibility
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Transactions by one person affect everyone
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Access continues if one account holder passes away
Additional cardholder
Shared spending on a credit card
How it works
An additional cardholder is when an authorised person can use a credit card in their own name that’s linked to your account. With this arrangement, the account remains in your name only.
When it’s useful
This option is usually suitable if you want a trusted person to make purchases on your credit card for agreed or shared expenses.
What to know
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Applies to credit cards only
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The primary cardholder is responsible for all transactions made
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Spending limits and monitoring can help manage risk
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