Average time for a bank to send the final statement of accounts?

AuldYin

A word of praise here for RBS who made my new experience as an executor very easy and straightforward. I opened the account in person very simply at my local branch on presentation of my ID, the death certificate and usual proof of address etc. Within a week, I had a debit card, cheque book and access to internet banking. I banked a couple of utility refunds then used the cheque book to pay outstanding debts. Once probate was granted, the deceased's funds were electronically transferred into the executor account and I wrote cheques for all the beneficiaries.
The whole process was simple, efficient and stress-free and I can only praise RBS.

Savvy_Sue

I don't know why we didn't go with Lloyds: we used them last time and I don't remember any particular problems, apart from the fact that we couldn't do internet banking so I was posting cheques around the country.

Today I spent 40 minutes or so in NatWest, because I still can't use the debit card to access the account / check the balance / change the PIN. I went to the branch where I handed in the Grant two weeks ago.


The cashier was able to give me a statement but he wasn't able to help me with the inability to use the account, and said 'this is your current account, right?' And I said 'it's the account we were told to open, and we were told it was an executor's account, and it is identified as such on the bank statements.' So he disappeared to find a colleague.

(While he was doing that, another lady came in and spoke to the other cashier. She had had a letter from NatWest saying that the Grant of Probate she'd brought in to the bank hadn't been certified. She wasn't happy: she'd taken the grant in, and they'd copied it and sent it off without certifying it.)


My cashier came back, and said I needed to make a phone call, which I could do on their phone, to a freephone number. That was to the bereavement team, I discovered. Very sympathetic, but it gradually dawned on me that the lady I was speaking to thought I wanted to extract money from my late mother's NatWest account, rather than unblock our executor's account. Once we'd established that my mother never banked with NatWest, she said they were NOT the right people to be speaking to, as they only dealt with dead people's accounts.


Back to my cashier. He disappeared again, spoke to a colleague, came and took my grant, thought they might be able to unblock the account on the spot. Clearly not. So he photocopied the grant again, this time with the will (even thought they insisted on seeing that before they'd open the account), and said they will submit it with a request to unblock the account. Maybe last time all they did was send off the grant without saying what should happen. Who knows.


In one of our ancillary conversations, when I mentioned that I hadn't been able to set up internet banking, he said that he didn't think that was possible on an executor's account, and I said I hoped it was because we had been assured it was in two different branches! And we'd only come to NatWest because of that assurance!


He hopes that it will all be sorted out in a few days. I am mentally drafting the letter of complaint!

ferger

You can crib off mine! It all sounds too familiar. What's really annoying is that I worked for NWB for a period after I left University, and I know how straightforward this should be - but that was back in the day when the expertise actually worked at the branch, whereas now they're just cash and sales outlets...

Dear Sirs,

Ferger re Estate of Mr Ferger Senior

I am a longstanding, high-value customer of NatWest, holding several accounts with you – and a large mortgage or two - since back when I had the misfortune to work for you in the late 1980s. And I am NOT HAPPY.

My father died just before Christmas. He was in the process of drafting a new will when he passed away, but his existing will – and the only valid one – named his former employer, Former Employer Ltd, as Executor. His desire was that I take on the role, an amendment that his new will would have acknowledged, had it ever been signed and appropriately witnessed. Regrettably, it was in transit to him, in draft, on the day he died.

Former Employer Ltd were aware of his intentions, and were very happy to provide a Deed of Renunciation to myself and my sister, enabling me to administer the estate – in legal terms, as a beneficiary of the residue, I am able to apply for a ‘Grant of Administration with the Will Annexed’. This is not unusual, and is much the same situation as that which occurs if an executor is unable to carry out his/her duties, does not wish to, has died, or, indeed, if the will does not name one.

So I began dealing with what is a complex estate soon after a difficult Christmas, with an early task being to open a bank account on behalf of the estate, to collect the various monies that were turning up on his doorstep (dividends, service refunds etc), to collect the proceeds of his investments once a Grant of Administration is to hand and, ultimately, to settle with creditors and distribute the residue estate. I determined to open the account with NatWest, as being able to access details through my existing online banking arrangements is of significant benefit. This, broadly, was the ensuing sequence of events:

• I had a conversation with NatWest Private Banking, who advised that this transaction could not be undertaken remotely – I’m still not clear why - and suggested I visited a local branch. So I picked Fergertown, which is close to my home.
• I made arrangements to come into the branch – and took time off work to do so – on the 19th January.
• I brought in a Certified Copy Death Certificate, a copy of the Will and the Deed of Renunciation provided by Barclays, since I could not see how this latter item would not need to be referenced and recorded.
• I went through the account opening process with ‘Les’, who took a copy of the Death Certificate and Will. Upon proffering the Deed, ‘Les’ told me ‘No, we don’t need that – just the will’.
• Later that evening I picked up a message from ‘Les’, advising ‘We can’t open this account, because I’ve looked at the will and you’re not the executor. If you need to discuss, talk to my manager, Leanne’, providing a mobile phone number.
• Grumpy, I left a message for Leanne the next morning. She called me back and I explained the situation. She suggested I visit the branch again, so I could provide the Deed for your records. And I suggested that I had better also provide a copy of my mother’s Death Certificate as, if you need to establish rights to administer the estate, then you also need assurance that my mother is no longer with us, as her right would take precedent over those of my sister and I.
• I took time off work to visit my father’s house and dig out a copy of my mother’s death certificate, then visted the branch again, so Leanne could take copies. She apologised. ‘We’ve never come across this before’. What, really?
• I note an account has been opened online the following day, but with no reference to my father. I phone NW Private Banking and ask them what the account appears to be from where they sit. The chap I speak to says ‘an ordinary select current account. I rant a bit, then apologise to him, and leave another grumpy message with Leanne.
• I receive a message from ‘Les’, to the effect that he has to add further detail to the account after it has been opened, and all will be fine ‘tomorrow’
• ‘Tomorrow’ I note that the account still appears to be no more than a standard current account in my name.
• A few days later I receive a chequebook. Which has on it my name, and nothing else. This worries me. Immediately after I receive an account opening letter, which makes no reference to my father, nor to the account being anything other than a current account, in my name.
• I also receive a Visa Debit card on the account. Why would you issue a debit card on an Estate Administrator’s Account? It’s not my money and I am not planning on going shopping with it anytime soon.
• On Friday, I fill out a form for the Department of Work and Pensions – who owe the estate some money – asking for the account details ‘exactly as they appear on the chequebook’. Whilst I recognise that the name on the chequebook is (probably, still) unrelated to the title and style of the account, I phone the Chatham Service Centre to check exactly how the account is held again. After one redundant loop of being put through to your specialists in dead customers – of which I am not yet one, although this is driving me ever closer – I speak to a very helpful young lady, and agree a very abbreviated form of words for the chequebook that does at least convey the account’s purpose: ‘F D-Barrel Exors FSD-B’. I complete the form with this detail and hope it satisfies the DWP. I ponder for a moment the availability of large chequebooks when I worked for NatWest, with scope for much longer titles. I am now getting bored with being told that ‘the problem is your surname’. Personally, I think the problem is your creaking computer systems and poorly educated staff. Surprisingly enough, I inherited my name from my Dad. He’s now dead and I actually have no desire to start using a snappier one. You’ll have to live with it.
• The very helpful young lady assures me that your systems show that the account is an Executor’s Account, even if the chequebook appears to need decoding to divine the account’s true purpose.
• I despatch a cheque for crediting by post to Fergertown Branch Service Centre, a refund of £300 in connection with a delivery received after my father’s demise. The cheque is made out to my father, but that’s OK as the whole point of an Administrators account is that it will receive payments in the name of the deased party for some considerable time. There will be many more – my father had multiple certificated shareholdings and will continue to receive dividends for some time to come.
• Today the cheque is returned to me. ‘Payee name differs from the account holder’s name’.

It beggars belief really, the whole sorry sequence. There is a long list of customer types that you might choose to !!!! off through incompetence, but the very last one is ‘Bereaved Customer Trying to Administer His Deceased Parent’s Estate’

I enclose the letter and cheque that were returned to me today. Please credit the account. Please ensure this does not happen again. Please take a little time to explain to me why this has been so painfully difficult.

People die every day, in their thousands. Grieving relatives have to pick up the pieces in many cases. Competent organisations recognise this, and take every step to ease such a difficult responsibility. Please start behaving like one.

Yours faithfully

Ferger

thinkable

Thanks for all the replies, everybody. Another week has passed without receiving the statement. I did phone up a week ago, and they had received the death certificate (3 days after the local branch sent it), and was told there was a backlog, which is fair enough (if true). But considering it was the most basic kind of Saving Account, I'm still disappointed. I think I'll send a complaint just in case.

Savvy_Sue

thinkable wrote: »

Thanks for all the replies, everybody. Another week has passed without receiving the statement. I did phone up a week ago, and they had received the death certificate (3 days after the local branch sent it), and was told there was a backlog, which is fair enough (if true). But considering it was the most basic kind of Saving Account, I'm still disappointed. I think I'll send a complaint just in case.

I should. It does seem a long time for a very simple job.

In my own case, I will keep Ferger's letter in mind, but while I was driving to my godfather's funeral today I had a missed call from NatWest. They assure me all is well on the account and I can do what I like with it. I haven't yet had a chance to test their assurance. Sadly during the funeral itself I missed their phone call asking for feedback ...

While offering my condolences to the family, especially the one who's responsible for emptying the house, I said they were welcome to get in touch if they needed any advice. I mentioned house clearance services, which are extremely useful for 'collectors'. I failed to warn against NatWest ...

At the risk of turning this into a general rant against incompetence in dealing with estates, I could mention the estate agents marketing Mum's house. They seem incapable of emailing both executors, or of phoning the one who can hear on the phone. Earlier this week my co-executor got a call and was told they only had contact details for one of us. They then drew up a notification of sale which had only my co-executor's name on, and giving his address as the property for sale. When I emailed them to say that the sellers were actually Mr Fred Bloggs and Mrs Savvy Sue as executors for Mrs Freda Bloggs, they changed it to say Mr and Mrs Fred and Savvy Bloggs and Sue.

They've phoned to ask for things they already have; they emailed the wrong solicitor at our conveyancing firm and again gave only one executor's name so got the reply that we weren't known; and so on.

I can't believe it's that uncommon to have a property being sold by more than one person - is it?

Mojisola

Savvy_Sue wrote: »

When I emailed them to say that the sellers were actually Mr Fred Bloggs and Mrs Savvy Sue as executors for Mrs Freda Bloggs, they changed it to say Mr and Mrs Fred and Savvy Bloggs and Sue.

When I was selling Dad's house (as his executor), I got really fed up with the EA phoning up asking to speak to Dad - just how difficult is it to have it highlighted on their paperwork/computer system that someone is dead!

rheme

When dealing with my late dad's estate I went into Nationwide Building Society and set up an Executors Account. They then transferred his savings into this for me (the original accounts were with them anyway). When doing the final accounts the solicitor requested statements on the original accounts from date of death to the setting up of the Executor Account so walked into Nationwide one lunchtime and 10 minutes later walked out with all the information required.

They have been brilliant at what is an upsetting and very stressful time.

Sorry others are having to suffer the incompetence of some financial institutions.

Savvy_Sue

Nationwide told us they could not do an Executor's account because they are not a 'proper' bank.

Anyway, having failed to get to a bank to test the debit card on the executor's account, I decided to try the internet banking and succeeded in logging in. I ALMOST managed to transfer a small amount of money, just to prove I could, but no, I need to order a card reader on this account.

I have a card reader already, several in fact. One of them is even branded NatWest, abandoned by one of my sons. But no, I need to order a new one, on this account. I was able to do this via their webchat service, but she was very clear that I could not use any existing card reader.

Not yet, anyway. In two working days, I'll be able to use any old card reader, I don't have to wait for it to arrive, but I do have to order another piece of plastic to clutter up the house in order to access the account.

Sigh.

dzug1

Sounds like that in order to register that a card reader exists on the account, one has to have actually been issued to the account and that it's not possible to skip that issue

Savvy_Sue

dzug1 wrote: »

Sounds like that in order to register that a card reader exists on the account, one has to have actually been issued to the account and that it's not possible to skip that issue

I'm sure your assessment is correct. I just find it frustrating in the extreme, and I'm EXTREMELY glad I've tried to do a test payment now, rather than waiting for serious amounts of money to hit the account and then not being able to pass them on.