Banks after Probate

Wolvesfc

Seems I got lucky with my dads probate application as we received the grant  within 3 weeks of application, probably landed with a good caseworker. Knowing the civil service very well the difference in individual staff is astonishing,   shouldn't be like that but it is.

But onto my main question.  I have hard copy of the grant which I have uploaded to Lloyds bereavement over a week ago. Called them yesterday only to to be told it takes 30 days for funds to be transferred to executor account. I know cases have to be closed but I was expecting 7-10 days max, surely they are taking the mick, all documents were initially uploaded at the time of my Dads death (my ID, banking details, death cert and his will)


Have also  had several issues with mandatory payments from my Dads funds. They took 10 days to pay the funeral directors and over 3 weeks for the probate fees

Why would they delay payment to the account for 30 days when all processes and paperwork has been provided. 

emma203

My situation was different to yours as I didn't need probate to release the relatively low balance in my mother's account, but Lloyds were incredibly slow, taking almost 12 weeks to process it, despite regular phone calls and promises to "escalate" the case. 

The bereavement team staff were extremely sympathetic, but could never explain what the "problem" was, mainly because there wasn't one - at one point I even offered to travel 70 miles to the branch my mother's account was held at so be prepared for many phone calls and much frustration. 

SimonWebs

Wolvesfc  - I  am having the same trouble, was advised it takes between 14-30 days to close the account & then given other reason why it could take a bit longer.  

Jowwie

Congratulations on probate. I am still waiting now after 13 weeks  so even with your 30 day bank wait you will still be ahead of me.

The banks seem to set their own rules. Surprised this is not consistently regulated across the industry. Other issues I have :-

• Why do they set different limits on when accounts need probate?
• Why will they release all funds if the amount is below limit (which might be as high as £50k) but nothing at all if the account is £1 over that limit. IMO they should release funds up to the limit to everyone and just freeze the remainder.
• Freezing accounts should not be beneficial to the banks - they should automatically have to pay interest at some industry standard rate ideally close to bank of england base rate.

None of these issues would matter so much if HMCTS had sufficient resource/process to issue probate in a timely manner.

H657

I’m surprised at Lloyds taking so long, perhaps they’re quoting a worst case scenario? - HSBC credited my account 4 working days after I uploaded the probate grant & paperwork to release mum’s ISA. The process - all done through a portal - went very smoothly. 

Same with Yorkshire Building Soc - all sorted in 7 working days, even though paperwork sent by post.
Hoping NS&I are as efficient - I posted that off 2 days ago.

SiliconChip

How much money is in the Lloyds account? When I did probate for my mum they held her current account but because it only had a few £thousand in it they actually released the money just by telling them the details from the death certificate. Her main savings were in Building Societies and NS&I, they all needed probate, the quickest was Coventry Building Society (7 days after I received the grant documents) and the slowest Yorkshire Building Society (19 days, plus the time for the cheque that they sent to clear. NS&I took 11 days to cash out Premium Bonds.