Digital Banking

  Terry Brown 16:49 PM 11 Jul 11

A friend of mine died about a month ago, he had been ill for some time -so no suprise-, however when the will was read and the bequests made, there was a problem.

His money was in an online banking service(UK Bank) and he has recently changed his password and no-one (not even his wife) knows what the new password is.

The executor has writen to the bank, with a copy of the death certificate, but the bank stipulates no access codes-no money.

Any Sugessions?. Terry

  Housten 17:31 PM 11 Jul 11

I know someone will correct me, but I would say the bank is committing theft in that there position would appear to be that they are prepared to permanently deprive the beneficiaries of these monies. So I would suggest you get a solicitor - if one is not already involved - to send a letter to the bank stating all the facts and saying that if nothing is forthcoming in, say, a week you will have no recourse but to sue. If I am wrong I hope someone can correctly identify the procedure you should adopt, because the way things are at this time I am certain this will come up fairly frequently in the future.

  961 17:31 PM 11 Jul 11

I suggest that the executor should write to the head office of the Bank asking for this decision to be reversed.

It may be worth pointing out that banks without exception stipulate that access codes and pin numbers should not be divulged to third parties or written down, so the current stance seems unreasonable.

However, where the executor is not known to the bank, the bank will no doubt require proper identification and authority to be produced by the executor even if the estate is so small that it is not necessary to apply for probate

In such a case the bank will usually provide a form to enable such declarations to be made, often in front of a solicitor or a commissioner for oaths. sometimes at the executors own bank. This is quite straightforward and not expensive

  Terry Brown 07:53 AM 17 Jul 11


Currently the case is going through the courts for 'Clarification'.

Hopefully all will be sorted out soon, The sum involved is not large (about £30,000), personally I stand to gain some gardening tools, but there are various bonds and shares that have to be sorted.

As for Death policies, they were paid out almost as soon as the death certificate (copies) were recieved by the insurance company, with no questions or queries.

As Housten points out, with the Digital banking, this is going to happen more and more.


  961 09:24 AM 17 Jul 11

It makes no difference if the accounts were accessed on line or not, the bank(s) will still require the executor(s) to obtain probate (unless the amounts involved are very small) although in practical terms they will often allow necessary funds for funeral expenses to be withdrawn

In this case that will obviously not be necessary since the proceeds of life policies will cover

  Terry Brown 13:34 PM 18 Jul 11

Problem Solved

About 5 years ago, they moved to this address (same town- different house), and they did not notify the bank of their new address- Everything online-why bother-It looks like the bank was sending out documents to the old address and they were returned 'Moved away'.

Once that was cleared up, the bank released the account.

The importance of updating your details is very important, if you wish to avoid a problem like this in future.



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