I recently cashed in my life insurance policy, which my mother owned using a P.O.A form (she is currently incarcerated). I attempted to cash/deposit this check in my bank account and my bank would not allow it, citing that it would have to be deposited in an account with her name on it. I've contacted the insurance company and told them of the situation. I am now waiting a reply, but things don't seem hopeful on their end. What can I do? Is it possible for my mother to start a checking/savings account from prison?
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It's not impossible for incarcerated individuals to open bank accounts, although finding a bank that will accept such an account may be a bit difficult. Some banks elect not to accept such accounts, citing increased handling costs and risks when unable to deal with a customer face-to-face.
Ask your bank if it will consider opening such an account.
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It's not impossible for incarcerated individuals to open bank accounts, although finding a bank that will accept such an account may be a bit difficult. Some banks elect not to accept such accounts, citing increased handling costs and risks when unable to deal with a customer face-to-face.
Ask your bank if it will consider opening such an account.
