A Trusted Contact Person is an individual you authorize us to contact in specific situations to help protect your financial accounts. This person can be a family member, friend, or any trusted individual who you believe can act in your best interest.
Benefits of Establishing a Trusted Contact Person
Protection Against Fraud and Exploitation:
A Trusted Contact Person can be alerted if there's suspicious activity on your account to help safeguard your money from fraud and financial exploitation if you can't be reached.
Support During Health Issues:
A Trusted Contact Person can assist if you face health problems that impact your ability to make financial decisions, ensuring your financial matters are managed even if you cannot do so yourself.
Peace of Mind:
A Trusted Contact Person can provide peace of mind knowing there's someone looking out for your financial well-being for both routine and emergency financial situations.
Frequently Asked Questions
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What is a Trusted Contact Person?
A Trusted Contact Person is a person that you designate BAC Community Bank (“BAC”) to contact in limited circumstances. A Trusted Contact Person is a trusted friend or family member who can:
- Confirm your current contact information (examples: if you go offline and can’t be reached, there is a natural disaster, or you are traveling with limited cell reception).
- Confirm your health status for an emergency (example: a fall in a branch).
- Confirm the contact information for other authorized parties (example: attorney).
- Discuss urgent, unusual account activity or other possible red flags.
You may already have an existing power of attorney or spouse listed on your account, but a Trusted Contact Person provides an additional resource to contact and is an additional layer of protection to help keep your accounts safe.
It’s important to note that Trusted Contacts are unable to act on your behalf, conduct transactions, or engage in any account activity (unless they have been previously authorized on your account such as a joint owner or Trustee).
How Would Having a Trusted Contact Help Me?
Maybe you’re traveling. Maybe you‘ve been displaced by a natural disaster. Maybe there’s a concern about possible fraud. Or maybe you’re having a health issue. A trusted contact can help BAC connect with you. A trusted contact may be asked to confirm your current contact information, health status or the identity of any legal guardian, executor, trustee, or holder of a power of attorney.
Why should I add a Trusted Contact Person to my account?
A Trusted Contact Person is designated solely for your benefit. In an age of increasing financial fraud, a trusted contact can help safeguard against nefarious actions that could jeopardize your financial wellbeing. Naming a Trusted Contact Person adds another layer of protection for your personal assets when something unexpected may happen in your life. It adds an additional level of security to your account.
A Trusted Contact Person is not the same as someone who acts as the representative under a Power of Attorney (POA). It may be beneficial to identify someone who is not already named in your POA.
Financial Institutions often serve as the first line of defense when it comes to cases of possible financial exploitation. A Trusted Contact Person is another resource to help protect you against financial abuse or scams.
If BAC cannot reach you, adding a Trusted Contact Person to your account may help ensure that your current address and contact information are correct. If we suspect that you are experiencing a health issue, it may help to designate a contact to confirm your current health status.
How can a Trusted Contact Person help protect my account?
A Trusted Contact Person is a trusted friend or family member who can:
- Help you avoid scams, thereby protecting assets and respond to suspected financial exploitation.
- Confirm your support system by identifying your legal guardian, trustee, or power of attorney.
- Know your health status, if concerns arise, they can confirm your health status.
- Help to reach you if we are unable to reach you.
- Advocate for you, providing you with support and resources when you need it the most.
Who should I make a Trusted Contact Person?
Your trusted contact person is someone that you trust, is mature and has the ability to communicate and engage with BAC in conversations about personal circumstances if BAC contacts them. Your trusted contact person does not give any legal authority to act on your behalf and will not be permitted to execute transactions or make financial decisions, unless they are also your legal representative with authority to do so. It is strongly recommended that you name someone other than a legal representative as a Trusted Contact Person.
The main benefit of choosing a Trusted Contact is that if an emergency happens, you have already identified someone who you want BAC to contact to help protect you. Think about people you know and who would be a good fit. You should choose someone you trust who is reliable and has your best interests at heart. You can choose a family member, friend, attorney, or someone else. It can be helpful to choose more than one trusted contact, so that if the first person is not available, BAC can reach out to others on the list.
Who can I designate to be a Trusted Contact?
In most cases, anybody who’s at least 18 years old can be a Trusted Contact, but we suggest designating a person who isn’t already authorized to conduct business or receive information on your behalf. Trusted Contacts are usually family members or close friends — people you trust and who are likely to be in the best position to know your current situation — as opposed to your investment advisor, trustee, or someone with power of attorney.
How many Trusted Contacts can I have?
You can designate up to two Trusted Contacts and they will be applied to your entire relationship with us, so you don’t have to worry about naming individual contacts for each account.
Can a Trusted Contact Person have access to my account?
No. A Trusted Contact Person cannot authorize transactions on your behalf, make decisions on your behalf or be given any detailed account information, such as balances or transaction history.
What Authority Does a Trusted Contact Have on Your Account?
A Trusted Contact Person is not authorized to obtain account information or transact business, on your behalf, on your account.
Designation as a Trusted Contact doesn’t make that person a power of attorney, legal guardian, trustee or executor.
By designating a Trusted Contact, you’re authorizing BAC to contact someone you trust and disclose information in limited circumstances.
Can my Trusted Contact Person contact BAC?
Yes, BAC will accept informational updates from a Trusted Contact regarding our customer’s health and wellness.
Can my Trusted Contact Person contact BAC to obtain information on my account(s)?
No. A Trusted Contact Person cannot authorize transactions on your behalf, make decisions on your behalf or be given any detailed account information, such as balances or transaction history.
When would BAC reach out to a Trusted Contact Person?
Examples of when BAC may contact a Trusted Contact Person:
- Address unusual or suspicious financial activity;
- Confirm your current contact information when BAC is unable to reach you;
- Confirm your health status for emergency assistance; or
- BAC requires the name and contact information of your legal representative (e.g. lawyer, power of attorney, etc.), when needed.
This person will only be contacted if one of the scenarios above is present. If you inform a Trusted Contact Person of their designation, and if they are contacted, they will be able to alert BAC to one of the possible scenarios presented above.
Under what circumstances would BAC contact me if I’m listed as a Trusted Contact Person on a customer’s account?
If an emergency, such as a health crisis or suspected incapacity arises, BAC may contact you for guidance. If we have been trying to contact a customer, but can’t reach them, we may contact you for assistance in reaching them.
What kind of information does BAC need for my Trusted Contact Person?
- Full name
- Home phone number
- Mobile phone number
- Email address
- Relationship to BAC Customer
How do I designate a Trusted Contact Person?
Current BAC Customers can designate a Trusted Contact Person by completing a Trusted Contact Person Designation Form (“Form”). These Forms are available by visiting any Branch location, completing a Form in Online Banking, or contacting Customer Care at 1-877-226-5280.
Should I tell my designee that I have made them a Trusted Contact Person?
Yes, you may provide them with the Trusted Contact Person Designee Form.
What’s my role if I’ve been designated as a Trusted Contact?
The role of a Trusted Contact can include responsibilities such as acting as an emergency contact if a health issue arises, helping BAC connect with a customer we’re unable to reach, be a resource if suspected fraud or unauthorized account activity is suspected, so you can be a resource for our customer.
What if I have concerns about my role as a Trusted Contact Person?
If you have concerns about your role as a Trusted Contact Person, it’s best to consult with the customer that designated you about your concerns.
Can I change my Trusted Contact Person?
Yes, contact BAC right away if you want to change or remove a designated Trusted Contact Person.
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