Savings Accounts
If your loved one had a savings account with us, we’ll do all we can to support you and make closing or transferring the account as simple as possible.
If there’s money in the account, we can pay these bills on behalf of the estate.
For example:
- Funeral final invoice
- Probate fees
- Inheritance tax
We’ll need the original invoice(s) or proof of payment before we can release any funds.
Joint accounts will be transferred into the remaining account holder(s).
If you’re the remaining account holder(s), you’ll be able to continue using it as usual.
Your account number will stay the same and we can issue a new passbook.
Once we’ve been notified of the death, we’ll freeze the account to stop any money going in or out.
If the account receives any payments, we’ll return them to the sender.
We’ll continue to add interest to the account while the estate is being settled.
We won’t charge for any withdrawals and the account won’t incur any penalties if you choose to withdraw the funds.
Once we’ve received the relevant documents, we’ll send the executor / beneficiaries / solicitors a cheque or transfer money to the nominated account(s) and close it.
Only a personal representative can withdraw money and close a sole account.
The documents and identification we ask for varies according to how much money is in the account.
| Money in account(s) | Documents needed |
| Up to £500.00 |
|
| £500.01 - £20,000 |
|
| £20,000.01 and over |
|
Depending on the type of identification we’ve taken, we may need additional information for withdrawal before probate / closure of the account.
We understand that international death certificates vary so we’ll let you know what we can accept as official records if the account holder’s death was registered abroad.
For further information please view our Bereavement Guide.
