Bank account for 80+ y/o Lolo

[cymro1959]

Hi! Just seeking advice if it is okay for me and my Lolo to open a joint bank account or his own savings account na lang? Account is intended for my Lolo's money from selling his lots and he wants someone sana na maka-access din sa account just in case something happens.

 

[ali89]

@cymro1959 Basta with atm para atleast you can still withdraw without much questions.

 

[senequa89]

@cymro1959 Joint account with ATM. Sa joint account indicate "OR" sa account name (lolo's name OR your name).

 

[seekinganswersinlife]

@cymro1959 What the Customer Service advise me, is to transfer my father’s money to someone like me.
She don’t advise na lagyan ng OR, kasi it would be hard to get the money, if may something na nagyari kay Father.

I suggest, to ask the Customer Service of the bank where you want to open an account on whats the best option, and tell them your concerns.

 

[workinonit2]

@seekinganswersinlife mas madali po yata pag OR ang nakalagay and not AND.

 

[seekinganswersinlife]

@workinonit2 That was What I’m thinking of at first, kaya lang she insisted na ilipat na totally sa akin ung buong account, kasi kahit na OR lang, mahihirapan kang makuha ung buong account if may mangyari kay papa (knock on wood). Knowing that her Lolo is 80 yrs old na rin..

 

[workinonit2]

@seekinganswersinlife thanks for this. i should probably look into this as well. baka nga considered half ang ownership pag OR ang account

 

[seekinganswersinlife]

@workinonit2 Yes, she actually informed me na may mga ganung instances na nga na nangyari, and they had a hard time claiming it.

Passbook was under my Name, but I let my Father keep it, para sa peace of mind nya

 

[mangolime17]

@cymro1959 Own account, then gawan mo ng online banking. ikaw mag manage. If something happens, transfer mo nlng.

Pero kung milyon milyon ang pinag uusapan. baka maflag kung magttransfer ka ng huge amounts multiple times.

May span of time pa naman kasi na pede mo magamit ung account even wala na ung account holder. Di naman nagnonotify ang mga morgues sa banko pag may namatay.

 

[eachallberg]

@cymro1959

"OR"​

Let's cut to the case, na your grandfather is not getting younger. Kung ATM account yan na naka-OR, walang magiging problem if you decide on your own what to do once your grandpa is no longer around.