An application for a financial management order (also known in some states and territories as an administration order) is usually made by someone with a genuine concern for the welfare of a person (known legally as a “protected person”) who is unable to manage their own financial affairs. In most cases this is a family member, friend, social worker or healthcare professional.
A financial manager is then appointed to manage the person’s finances. While a financial management order is in place, the protected person may have limited or no access to their own account.
Financial management orders are generally appointed by a tribunal. The appointed person:
The financial management order must be brought into a branch. You may need to complete some additional paperwork while you’re in the branch.
Normally the appointed financial manager is setting up the financial management order on behalf of the account holder, so the account holder won’t need to attend the branch.
If there are multiple financial managers, it is best for everyone to come into the branch together. However, if this is not possible, we can only provide account access to a financial manager who has previously visited a Commbank branch and been identified.
The information provided here is general only – each state and territory has different applications for powers of attorney and financial management orders. There are a range of external support services available that can help you understand and make decisions in relation to authorities and managing your financial affairs in your state or territory.
This information is general guidance only. There are some other authorities available only in certain states (e.g. Victoria).