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Are there any restrictions with a Third Party Mandate?

The following services are not available to a third party on an account:

  • Use any of the benefits on an account.
  • Open accounts.
  • Upgrade or downgrade accounts.
  • Apply for additional borrowing on existing accounts e.g. overdrafts, loans.
  • Reclaim funds from dormant accounts they were named on.

Once third party is applied, the new account will show alongside any other accounts that the nominated third party is associated with. This means that the account will be available to view on telephone and online banking, this is not optional.