Your online bank accounts if you got run over by a bus

rb10

You shouldn't really let anyone have access to your online banking passwords - not even your other half. They are for you, and you only. If you had online banking fraud on your account, then one of the first things that the bank would ask is 'does anyone else know the login details for this account?'. If you wanted a refund for the fraudulent transactions, then you would have to lie (which in itself is a fraudulent declaration).

If you die, then all your family need to know to get hold of the money is a list of the banks/building societies where you have money, and your death certificate.

They should not be pretending to be you, and transferring the money out themselves. Banks have procedures for the Executors to get hold of money in accounts; just follow them.

So ... as long as you have some sort of paperwork for each account, or simply a list that you've made yourself of the different banks that you use, and it's somewhere that's accessible by a family member, then they shouldn't have a problem.

Rob_192

When my father died 12 years ago and left me as executor, I dreaded having sort out his finances. He didn't have much, having recently sold his house and most was with First Direct. I was absulutely astonished how helpful they were, so much so that I switched my banking to FD and have remained with them ever since. I phoned them as a non customer, explained my father had died and they just took control. They suspended his acct and sent me all the forms for me to evidence that I was executor and subsequently provide the detals of probate etc. Whilst probate was being sorted they even released funds from his account to cover the funeral expenses. Given my state of mind at the time, they were a pleaseure to deal with and I have always been grateful. I suspect other banks would make a real meal of this, but I may be wrong.

This having been said, I shudder to think how much hastle my kids would have if both my wife and I went together, we have money everywhere with SOs going every which way to max out on bonus's and deals etc. I have a record, but nobody else would follow it easily:D

R

diable

I have been thinking about this for a while and it does seem the time to write down all my account numbers and contact telephone numbers and store them with my will (when I get around to writing one that is) to make things easier for everyone else once I've gone.

Has anyone got anything cheerful to say ;o))

evenasus

I use Quicken where every single bank/building society account and every transaction/transfer is listed.
I can go back to 1994 and see financial transactions.
My husband and son know my password to access the Quicken programme.

I have so many account, due to the FSA guarantee problem. So for account numbers/passwords etc - I use KeyPass which I keep on three memory sticks. One kept in a safe bolted to a concrete floor in a very awkward to get to position. One I keep in my bag and another in a cupboard.
http://keepass.info/

The KeePass programme access require a password which can be many characters long. I personally use a sentence which has 22 characters and I can easily remember.

Lokolo

As I have about 10 different accounts with 6 different banks I just have a list of these in a file so mother knows who to phone up!

Primrose

I gave this issue some serious thought earlier in the year when we updated our Wills.

My OH and I have all joint accounts with a shared password, including online savings accounts. I have typed out a list of all our bank and savings accounts (quite a few as money is regularly moved around to take advantage of better interest rates) The list provides the dates when accounts mature, etc, account numbers, addresses and phone numbers. It also contains the contact number and account reference for all our utilities such as gas, electricity, telephone, Council Tax, pension providers, etc.

Having said this, I'm horrified by the number of people I know who haven't yet made a Will, even when they have health problems, are ageing, or have complicated family circumstances.

A duplicate set of these lists is lodged with our solicitor, who is our Executor if we die together. The list will be updated every December. Our solicitor also has a set of house keys with each key labelled. It took quite a time putting all this information together but I'm happy now in my own mind that there isn't much more we can do to leave our affairs in a tidy state.

cloud_dog

Someone else touched on this in another thread late last year and I commented then that I use a little app called Tiddlywiki which is a personal wiki in a single file.

This wiki documents all our finances, utilities, Pc stuff (ISP etc, e-mails), insurance (cars etc), Life assurance, unemployment, child related stuff, links to wills etc. It doesn't contain any secure info (that is held seperately in an encrypted folder but it ponits to its location.

I've also added in a section called 'What You Need To Know, What You Need To Do' if the unfortunate were to happen to me.

ANGLICANPAT

Mnemonics . Passwords and security numbers can be written for another person in code - that doesnt break bank rules. A string of first letters or numbers taken from answers to questions only they will know.

googler

For every 'online' account I have, I have a matching letter or three from the bank concerned, welcoming me, and possibly confirming account number etc.

File these in some logical place and order.