Re online only banks when death occurs to holder

joesoap1264

hi guys, I have several accounts, online, and offline.
now I am knocking on a bit, I am thinking of what my OH will do when I am gone ?
I do all the banking, my OH is not IT interested, or even money interested .
I keep moving it about, but, I have now thought of how online only banks deal with family who have to close accounts when the holder, ( me) dies.
my kids are all IT savvy, and would step in,but, banks being banks, how geared , or helpful are they regarding this.
when I phoe any bank about my OH,the security is unbelievable, none her permission etc.
how easy, or difficult is it to close  sole accounts of the deceased, meet the banks requirements, death cert, power of attorney etc, etc,when it doesn’t use post , or do they all have a phone line for any assistance or help regarding these events?
high street banks have a bad enough reputation regarding dealing with the things I stated, I just wondered if anyone has had to deal with online only banks when their loved one has died, it must happen on a regular basis ?
any help, advice to this subject would be appreciated.

p00hsticks

All major banks have a bereavement department that you should be able to find the contact details easily via google. They'd be the first port of call, usually by phone.

For example I've just googled the one for Chase here.

https://www.chase.co.uk/gb/en/hub/bereavement/

Speaking from personal experience, you'd be doing whoever is left behind a great service by maintaining an up-to-date  list of who you have accounts with, (not just banks and savings institutions, but utility companies etc) together with a note of the relevant account names and numbers and possibly a phone number, link  or address of the relevant customer services (that Chase link above shows the information that they would be expected to provide).

sheramber

My son's had no problem with our banks when notifying them of my husband's death. The bereavement department advised what was needed, which was either an email copy of the death certificate/ will  or  they needed to be sent.

TSB required a branch visit to change joint account to sole. RBS  and Tesco just changed the joint accounts to sole  and transferred the money in his sole accounts to the sole account.

joesoap1264

Thank you very much for both replies, much appreciated.
I did know of banks having such teams, but wondered if online only did also.
read some bad reports of such teams, but good and bad in all walks of life .
I have left all instructions, a/ c details, passwords, etc, who to phone, etc.
all in the safe, with wills ,LPA, etc.
just making my own funeral arrangements, paying up front, so I do not leave much for family to do.
I have done it myself, and with monies scattered everywhere, my OH wouldn’t know where to start.
she knows all about what I have done but showing signs of altzeimers, so the family know of details as well.
one cannot be prepared enough, cannot bypass it.

Having trouble with Hmrc at present, cannot avoid them either😡 .
no doubt there will be something, cannot plan everything in advance.
to get best rates, I need to go with the likes of gatehouse, et.al, don’t like money not getting best rates, even though we don’t need it .
thanks again, thanks .

[Deleted User]

I deal with the finances and my husband cannot even do online banking. I tend to move finances around all the time, especially now with rates continually improving. What I have done is to create an excel document (which is password locked) which has all the banks, what type of account they are, whether it is his account, mine or joint, with sort code and account number. This is enough to manage if I am no longer here. My husband can find the number, press any button (press one for etc) and speak to someone, even if he does not know the online passwords etc. What he does now is my name and DOB etc, and as long as he tells them I am deceased, they would be able to help him.

km1500

all you need is a list of banks. When in the fullness of time they are contacted they will know account details etc so.no need to record them.

phillw

km1500 said:

all you need is a list of banks. When in the fullness of time they are contacted they will know account details etc so.no need to record them.

For me (and I suspect a few other members here) then you might as well just contact all the banks.

Notepad_Phil

km1500 said:

all you need is a list of banks. When in the fullness of time they are contacted they will know account details etc so.no need to record them.

Hopefully each bank will have the details, but just in case of any mistakes on their part,  I prefer to also keep a record of the details along with how much is in there. The actual balance might of course vary from when I last recorded it, but it gives an indication which will hopefully help any executors etc.

joesoap1264

Thanks all for your help.
all my a/ cs , amount, opened, expired date, rate, are all in a separate books, one for me, one for wife, don’t know who is going first do we.
we have mostly separate a/ c’ for tax reasons, mostly isas, just main Hsbc as our joint a/c .
either way, it will be the kids that will sort both out, which ever way we die .
opened a Ns&i instant saver a/ c  each name  ,with £5 in it, just to move money from all my accounts, or hers ,via Hsbc  nominated joint a/ c, then to Ns&i , no limit on Ns&i  a/ c, like all the rest, £85k.
then when all monies are in, estate sorted, either of us can move movies where necessary . Wife will probably leave it in all in Ns&i, and live off her money.
i will move it around, just the way I am.
👍
cheers all, very helpful.

joesoap1264

joesoap1264 said:

Thanks all for your help.
all my a/ cs , amount, opened, expired date, rate, are all in a separate books, one for me, one for wife, don’t know who is going first do we.
we have mostly separate a/ c’ for tax reasons, mostly isas, just main Hsbc as our joint a/c .
either way, it will be the kids that will sort both out, which ever way we die .
opened a Ns&i instant saver a/ c  each name  ,with £5 in it, just to move money from all my accounts, or hers ,via Hsbc  nominated joint a/ c, then to Ns&i , no limit on Ns&i  a/ c, like all the rest, £85k.
then when all monies are in, estate sorted, either of us can move movies where necessary . Wife will probably leave it in all in Ns&i, and live off her money.
i will move it around, just the way I am.
👍
cheers all, very helpful.

P.s, limit is the FSCS I refer to.
already had two banks go bust, both Icelandic, got money back no probs, £85k in each !
in this climate, could happen again .

Brie

Assuming you trust your IT savvy kids you could get one at least of them added to your accounts as third party authority.  This is handy in case you, for instance, are suddenly hospitalised and banking needs to be done.   This is an easier level that allows the TPA to move money, set/change DDs etc.   I have this on my aged MiL's account so have been able to pay the bills for her when she was no longer mobile enough to get to the bank or post off the cheques.  

The fact that someone has this should be reassuring for your OH and would, should someone be so inclined tidy things up on your demise.