Banking question... can money be taken from an account without passbook?

SanPedro

Well-known Member
My MIL is getting a bit senile and my wife and i are taking charge (slowly) of her welfare. We visited the bank with her yesterday with an old passbook to see what the balance was. The bank said that a withdrawal had been made 2 years ago for £2000, and promptly wrote the details down in the book.

Yet if this is a passbook only account... how did the money get withdrawn in the first place? Problem is she can't remember taking the money out. Anybody here know what the deal is with passbook only accounts? Isn't the whole point that payments/withdrawals have to be registered in the book... so that you have a record, otherwise what's the point?
 

Toasty

Distinguished Member
Its still a bank account where money can be exchanged in and out with the bank details. What would be odd is if the withdrawal was made at the bank, why wasn't it stamped at the same time? But the book itself doesn't authorise anything other than help prove your identity.
 

hippo99

Distinguished Member
Usually yes. Unless she has online/telephone banking set up.
Was the £2,000 taken out in cash, cheque or bank transfer?

What's the passbook account? Might be worth having a look on the bank's website & see what the 'features' of the account are.
 

SanPedro

Well-known Member
It's a savings account which she's had since 2000. This is the only withdrawal that's been made in all that time. Money has been transferred into the account on only 2 occasions when the account was set-up within the space of a couple of months. So basically it's been pretty dormant all that time, just interest building up.

She's never done internet or telephone banking in her life, until about a year ago. And the £2K was drawn out 2 years ago. The money was taken out as cash, so how could somebody get it out without a passbook? Surely the book is needed to prove identity for a cash withdrawal? Or maybe not if you can prove your identity? There is no card or checkbook that I am aware of, as it was used purely as a savings account.
 

SanPedro

Well-known Member
One thing... the interest payments show just how crap savings rates are these days. Interest has dropped from £340 down to £62.00.
 

hippo99

Distinguished Member
It's a savings account which she's had since 2000. This is the only withdrawal that's been made in all that time. Money has been transferred into the account on only 2 occasions when the account was set-up within the space of a couple of months. So basically it's been pretty dormant all that time, just interest building up.

She's never done internet or telephone banking in her life, until about a year ago. And the £2K was drawn out 2 years ago. The money was taken out as cash, so how could somebody get it out without a passbook? Surely the book is needed to prove identity for a cash withdrawal? Or maybe not if you can prove your identity? There is no card or checkbook that I am aware of, as it was used purely as a savings account.
If it was taken out as cash, & it wasn't updated in the passbook, then the person would've had to complete a withdrawal slip in branch & signed for the cash (& shown some photo ID).
Maybe phone the bank & ask if they can locate that withdrawal slip.

Also worth thinking back to the withdrawal date 2 years ago & see if there was anything unusual that happened? Did she use it for a holiday, or a new TV/appliance at home? Lend it anyone?
 

SanPedro

Well-known Member
If it was taken out as cash, & it wasn't updated in the passbook, then the person would've had to complete a withdrawal slip in branch & signed for the cash (& shown some photo ID).
Maybe phone the bank & ask if they can locate that withdrawal slip.

Also worth thinking back to the withdrawal date 2 years ago & see if there was anything unusual that happened? Did she use it for a holiday, or a new TV/appliance at home? Lend it anyone?
Thanks. at least we now have something we can ask the bank for. The big problem is the MILs memory... it's not what it used to be. She can barely remember what happened yesterday sometimes.
 

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