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Joint account with Brother

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  • Apodemus
    Apodemus Posts: 3,410 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Lloyds bank have said they will release the funds in my dads account as it is below the level where probate is needed. We need the money (£47K)...

    Wow! I am surprised that they can simply release a sum at this level! Can anyone confirm what the normal limit on such a release is? I always thought this was a de minimum arrangement and normally in the £100 range, but have no basis for that assumption.

    I am also confused as to how they can release this while the rest of the estate goes through probate?
  • Keep_pedalling
    Keep_pedalling Posts: 21,543 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Apodemus wrote: »
    Wow! I am surprised that they can simply release a sum at this level! Can anyone confirm what the normal limit on such a release is? I always thought this was a de minimum arrangement and normally in the £100 range, but have no basis for that assumption.

    I am also confused as to how they can release this while the rest of the estate goes through probate?

    Most banks will release quite large sums. The limit with Barclays is £30,000 but there is no standard amount.
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