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  Home >> Accounts >> Checking Accounts  
Checking Account Dispute

I have a checking account with my aunt and I am listed on it. Can my cousin claim power of attorney and take this money, even though it states that she and I own the account?


If your aunt gave a power of attorney to your cousin, and the power of attorney gave your cousin authority to open and manage bank accounts, your cousin would have the authority to transact business in that account on your aunt's behalf. That would mean that your cousin's withdrawal of the funds would be legally permitted, and he or she would be accountable only to your aunt as to whether the transactions were acceptable to her.

Published on BankingQuestions.com 8/01/08