An Australian woman has publicly criticized NAB, one of the Big Four banks, for allegedly blocking her from accessing her elderly father’s account despite having enduring power of attorney (EPOA). Andrea Fox shared her frustration on social media, claiming that the bank’s actions have left her unable to pay essential bills on behalf of her father, who suffered a severe stroke.
Power of Attorney Ignored
Ms. Fox, who has been managing her father’s finances for over four years, explained the ordeal started when NAB’s fraud department flagged her access to the account. ‘They locked me out of net banking and put a hold on my dad’s account, meaning I can’t access his funds or pay his bills,’ she said in a viral TikTok video.
Even after providing documentation proving her legal authority to manage the account, Ms. Fox claimed the bank refused to reinstate her access. ‘They treated me like a criminal as if I were trying to steal my own father’s money,’ she shared.
Prolonged Delays Causing Distress
Ms. Fox was asked to visit an NAB branch to resolve the matter, but the issue persisted for over a week. She stated that despite verifying her identity and re-submitting EPOA documents, the bank maintained the block due to ‘necessary fraud checks.’ This prolonged delay left her unable to pay essential bills, including rates and her father’s medication from his nursing home.
‘It’s beyond frustrating. I went into the bank hoping for a simple resolution and walked out in tears, feeling humiliated,’ Ms. Fox said. She added that NAB informed her the review process could take up to 30 days, further compounding her frustration.
NAB Responds to Allegations
According to Ms. Fox, the bank claimed the measures were part of their obligation to prevent potential elder abuse or fraud. However, she argues the bank’s overreach has left her feeling powerless. ‘They’re holding his money hostage under the guise of protecting it. If my dad could speak for himself, he wouldn’t approve of this,’ she said.
In response, several commenters on her TikTok post urged her to escalate the matter to the federal banking ombudsman. Some agreed with NAB’s caution, emphasizing the need to periodically refresh identification due to legislation aimed at preventing elder abuse. Others, however, criticized the complicated and lengthy resolution process, calling it a ‘nightmare.’
Calls for Changes in Banking Processes
The incident has sparked widespread conversation about the balance between safeguarding funds and ensuring convenience for authorized caregivers. While safety measures to prevent fraud or elder abuse are essential, many are questioning if banks are unintentionally penalizing well-meaning family members who rely on EPOA documentation.
‘They’re making it harder for us to take care of aging parents,’ one commenter wrote. Another added, ‘This is a perfect example of why banking processes need urgent reform.’
NAB has yet to issue an official response regarding Ms. Fox’s allegations.
For now, Ms. Fox is left navigating the bureaucratic red tape, hoping for a resolution that will allow her to manage her father’s finances without further obstacles.