I’ve been looking into ways to help a family member manage their finances (with their permission) and came across the term third party mandate, which I have seen offered by the main banks as a way to be added onto the account as a third party (not a joint account holder).
Does anyone know whether Monzo offer this service at all? I’ve looked but I can’t find any information with regard to Monzo. I would like to do it through Monzo if possible, since they have excellent budgeting features and all.
Just to clarify, this person has not lost capacity to make these decisions, they are just bad with money so we’re looking into our options