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Frozen account of elderly lady
December 5, 2017
6:47 pm
justina
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Achieva has frozen my friend's very ill, 87 year old mother's account and won't let her transfer her money back to her bank in Edmonton, as she has requested in writing, so she can access her money. She does not have enough money coming in each month in her small pension to cover her costs. I know from Human Rights Legislation, that we are supposed to assume that a person has mental capacity unless there is evidence given that they do not. To not do so is discrimination based on age. There is nowhere in Achieva's Terms and Conditions that says that they are allowed to freeze someone's account or withhold someone's money. Either joint account holder may transact business without the approval of the other joint account holder. How can Achieva withhold this poor lady's money and why won't anyone there correct this nightmare and let her have HER money?? Why is Achieva allowed to continue to make a profit on her money?? So many people are outraged. Can anyone help??

December 5, 2017
9:06 pm
Norman1
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Are you sure your friend is giving you the full set of facts?

A request in writing to transfer? That's very odd. sf-confused One can withdraw from Achieva's Daily Interest Savings accounts by AchievaDirect, cheque, or ATM.

Your friend's mother could have moved the money herself by writing a cheque and depositing it to her Edmonton bank. Alternately, it looks like she could have logged onto Achieva's online banking site and done an electronic AchievaDirect transfer of the money out to her Edmonton bank.

December 6, 2017
12:46 am
Loonie
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The most common reason for locking an account, as far as I know, is suspected fraud.

It appears that it is the daughter who is the joint account holder.
And it appears that it is the daughter who is not being allowed to transfer the money, as the mother is too ill.

Perhaps this is not a true "joint" account but it is mother's account with power of attorney to daughter? or daughter has presented a POA but they have not accepted it? That would make all the difference.
If it is the mother who has written the letter, they may assume it was done under duress.

There may be a history or other factors of which you are not aware or are not telling us.

December 6, 2017
8:50 am
SavingIsGood
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Waaaaay to fishy post. Something definitely not that legal is going on. Potential elderly abuse or exploitation?
How bank can know that 'person is ill'? Request to transfer money 'in writing'? Never happened before.
Somebody wants to rob that poor person of her life savings.

December 6, 2017
8:53 am
Bill
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There's obviously a lot of info missing here. justina, you have not indicated what reason Achieva is giving for freezing the account - ?

December 6, 2017
3:41 pm
justina
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My friend is a guy and the joint account is with her other son. He's controlling her money and asked Achieva to NOT let it out. They froze the account.
He has also said that her capacity was questioned, which is a manipulation tactic, but given No evidence of it. She is very ill, not very mobile and wrote a letter asking for her funds to be transfered. She has mental capacity and authority over her account. She should not have to prove her capacity to Achieva Financial as they have no evidence that she does not have capacity. We can't discriminate and expect all elderly people to prove they have capacity because someone said they didnt, with no evidence. I have money in there too, but am taking every cent out, I am disgusted.

Lonnie, do you work for Achieva?

December 6, 2017
4:12 pm
Bill
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Has the mother tried calling and talking to Achieva? I know she is ill but as she was able to write a letter I'm assuming, maybe with assistance, she can make phone calls - ? I would think Achieva might be wondering why she wrote a letter instead of calling them.

December 6, 2017
5:05 pm
AltaRed
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The FI is between a rock and a hard place. The senior co-owner is wanting money transferred out while the other co-owner is saying don't dare to it because the senior is incompetent. Achieva probably feels exposed, i.e. potentially liable for losses if they now let funds out and someone challenges that....regardless of not having evidence of the senior's mental competence beyond verbal heresay.

The writing of a letter obviously was NOT the thing to do as said upthread. The senior should have just written a cheque on her account and deposited into her other bank account. Achieva would not have had any exposure not knowing any other details.

IMO, the senior should try making that phone call and her cognitive ability may be apparent enough in the call to sway Achieva. Failing that, it may now take a lawyer, on behalf of the senior, to sort this out with an Affadavit(s) from friends of the senior swearing to her cognitive abilities to make decisions on the account. That said, this issue is certainly well above my pay grade.

This thread is a prime example of joint accounts not always being good things. Don't use them unless there is a legitimate real business/legal reason to do so.

December 6, 2017
7:13 pm
Doug
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justina said
Achieva has frozen my friend's very ill, 87 year old mother's account and won't let her transfer her money back to her bank in Edmonton, as she has requested in writing, so she can access her money. She does not have enough money coming in each month in her small pension to cover her costs. I know from Human Rights Legislation, that we are supposed to assume that a person has mental capacity unless there is evidence given that they do not. To not do so is discrimination based on age. There is nowhere in Achieva's Terms and Conditions that says that they are allowed to freeze someone's account or withhold someone's money. Either joint account holder may transact business without the approval of the other joint account holder. How can Achieva withhold this poor lady's money and why won't anyone there correct this nightmare and let her have HER money?? Why is Achieva allowed to continue to make a profit on her money?? So many people are outraged. Can anyone help??  

One way around this could be to switch the bill payments to pre-authorized payments out of the Achieva HISA. Even if the account is "blocked" for whatever reason, Achieva would still have to manually approve the PADs and pay them if they are debited in your friend's mom's name. 🙂

Also, I agree...I don't think you have a full set of facts here. As far as I'm aware, FIs have a legal and fiduciary obligation to assume a person doesn't have the mental capacity any longer until there is sufficient medical and legal advice that they do. This is set up to prevent dueling former and new spouses, children and step-children from trying to get subvert the rules by co-opting the person to sign a new POA. sf-cool

One avenue you might explore is to refer your friend to the Public Guardian and Trustee's office and see if they'll take over the case and handle her financial affairs with the bank, especially when a dispute is involved. Now, the problem with the PG&T, though, is they tend not to take on cases they see as "too small" because there's "no money in it," sadly. 🙁

Beyond that, I'd see if Achieva will honour existing or new PAD bill payments and then have your friend's mom use a line of credit to cover any cash expenses while she or her children petition the court for a legally binding committeeship, perhaps.

I am just "spitballing" here, tossing out potential ideas to explore. Such is NOT to be construed as legal advice in any way, shape or form. sf-cool

Cheers,
Doug

December 12, 2017
3:42 pm
justina
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Yes, what Achieva is doing to this poor lady has gone viral! They are hurting and profiting off of her. But I'd love to know how much they are hurting their reputation and their bottom line!!

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