Best joint account type to pay parents state pension into

MidlifeCrisis

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Hi,
I am wondering which financial institution / account type is best to pay my parents pension into.

I know it needs to be a joint account. It will be literally for the payment going in and me withdrawing it to give to mum. Its literally the convenience of not having to go to queue at mums post office.

Ideally it would be on demand access with no bank fees for that one withdrawal.

What do you think?
 
Cool didn't know that! Does the exemption apply to bank fees on joint accounts where only one account holder is a pensioner?
 
Most banks offer accounts with no fees to seniors but you need to be careful with the terms and conditions.

For example, the terms of Bank of Ireland's Golden Years account provides that two people may have a joint account if both people are aged 66 or over.

Similarly, AIB's Advantage Account won't work because the terms provide that all parties to the account must be aged 66 or over.

 
So, your mum needs a bank account?
And you need to be able to access money for her? That doesn't mean it has to be a joint account.

I know Bank of Ireland launched a carer card during Covid that might be worth looking into. I think AIB have a mechanism where an elderly person can give access to a carer to their accounts.

All of the banks have dedicated units that look after the needs of vulnerable customers, so worth calling them to talk through options.
 
Here's some details about Bank of Ireland's carers' card initiative -
 
The PTSB explore account is worth looking at...
Up to €5 cash back every month.

 
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