Wife's use of my bank accounts.

eskbanker

I suspect that requirements for photo ID will largely be driven by ability to complete electronic ID verification, and if OP's wife has no accounts, she may not have much of a credit footprint....

SVaz

God knows. Trading 212 needed photo ID uploading, AJ Bell only needed my NI number and Name, address, DOB.  Both for ISAs. 

redofromstart

Juts to echo what has been said above.  I lost my husband unexpectedly so no chance to plan.  We had no significant joint accounts, and for historical tax reasons virtually all of the savings in his name.  I had full access (passwords etc) to his accounts but it is against the banks T&Cs for someone who is not the account holder to access the account regardless of consent.  As soon as I informed the various banks his accounts were frozen, cards and direct debits cancelled, and it took some weeks to get access to any of it. The only joint account was immediately changed to my name only but we never used that one so that made a few pence availble.

I was lucky that I didn't need probate to get access to any of it, and lucky that I had enough to survive on until it was resolved. The lack of will and delayed death certificate did not help with this.

I agree that you are unlikely to get into real bother for accessing the accounts of your spouse, I can imagine it would be more of an issue where there are other interested parties for any estate.   I suspect the simple gray area solution is to delay telling the banks until you have the death certificate and plead ignorance.

eskbanker

redofromstart said:

I agree that you are unlikely to get into real bother for accessing the accounts of your spouse, I can imagine it would be more of an issue where there are other interested parties for any estate.   I suspect the simple gray area solution is to delay telling the banks until you have the death certificate and plead ignorance.

Obviously a death certificate will include the date of death, so if it's clear that money was withdrawn from a sole account after that, it could get awkward, in theory at least....

Veteransaver

eskbanker said:

redofromstart said:

I agree that you are unlikely to get into real bother for accessing the accounts of your spouse, I can imagine it would be more of an issue where there are other interested parties for any estate.   I suspect the simple gray area solution is to delay telling the banks until you have the death certificate and plead ignorance.

Obviously a death certificate will include the date of death, so if it's clear that money was withdrawn from a sole account after that, it could get awkward, in theory at least....

In theory, but bank didn't raise anything with us. You'd think they'd check, but then what would be the point unless someone has raised a complaint somehow.

Albermarle

eskbanker said:

Albermarle said:

As far as I know, what you are doing now is not strictly legal.

Surely it'll be in breach of bank Ts & Cs but unlikely to be illegal as such?

Not sure of the technicalities to be honest, but best avoided in any case.

Emmia

The simplest solution is to convert the accounts to joint accounts - whoever survives then still has access to the money in the accounts 

maman

I think we all know that it's against banks' Ts and Cs to share passwords, pin numbers, passwords etc. While I understand the circumstances, the fact that people have 'got away with it' isn't the best way forward IMO for the OP.

I think OP should either change the accounts to joint or encourage his wife to open her own account PDQ. 

I know things were different for older people but I've had my own accounts (current and savings) since I was a student and DH has his. 

Emmia

maman said:

I think we all know that it's against banks' Ts and Cs to share passwords, pin numbers, passwords etc. While I understand the circumstances, the fact that people have 'got away with it' isn't the best way forward IMO for the OP.

I think OP should either change the accounts to joint or encourage his wife to open her own account PDQ. 

I know things were different for older people but I've had my own accounts (current and savings) since I was a student and DH has his. 

My mum (late 70's) has always had her own accounts as well a a joint account... but I have a colleague in their 30's who only has a joint account with their spouse. I think it's just what people prefer to do - age isn't always a good indicator.

Bostonerimus1

I would get everything made joint to avoid the chore of trying to access the accounts when you have died as it’s the worst time to deal with administration. Do you have a will or any estate plan. For married couples it is often forgotten, but it’s important to have in place just in case you both die and doing a will is easier together.

I’m in the US and I’m single so when I die there isn’t a spouse to worry about. However, to make wrapping up my estate easier I have my home, bank accounts and general investment accounts in a revocable trust that can be accessed by the trustees when I pass and avoids probate. My DC pensions pass directly to my heirs.