We understand that the loss of a loved one can be a distressing time and managing finances may not be the first thing you consider. When you are ready to discuss your loved one’s accounts we are here to help and make the process as easy as possible for you.
Letting us know
You will need to begin by registering the death with us. To do so, we will need either the original or a certified copy of the death certificate. You can bring this into one of our branches or post it to our Tipton Head Office. If you visit a branch, there is no need to make an appointment unless you would like to be seen in a private room. If you do wish to be seen in private, we just need to confirm that a meeting room will be available, please call us on 0121 557 2551 or complete our online form.
Before the necessary changes to the accounts are made, you are able to make certain withdrawals as detailed below. An executor or next of kin must sign for each withdrawal.
Funeral expenses: in order to withdraw money for funeral expenses we will need a copy of the final invoice from your funeral directors.
HMRC Inheritance tax: we will need a completed IHT423 form provided by HMRC. Please be aware that there is a £25 electronic transfer fee for this transaction.
Probate fees: we will provide you with a cheque made payable to ‘HM Courts & Tribunal Services’.
What happens next?
If the account is held jointly, then all funds will automatically be passed over to the remaining account holders once the death has been registered with us.
For accounts held as a sole named beneficiary only then the next steps depend on the amount of savings in all their accounts held with us.
- If the total balance is below £5,000 we will need you to complete a statutory declaration form. You can print this off and bring it in, or we have copies available in our branches if you do not have access to a printer.
- If the total balance is between £5,000 and £15,000 we will need you to complete a statutory declaration form. In addition, a solicitor or Commissioner of Oaths will need to witness your signatures and complete section 5 of the form to confirm that the information is true. You can print this form and bring it in to branch, or we have copies available if you do not have access to a printer.
- If the total balance is above £15,000 we will need a Grant of Probate. This is also known as a Grant of Representation. For more information on how to apply for this please visit the Government’s website. Once you have this we will need to see either the original or a certified copy of the document.
Along with the information detailed above we will also need:
- One piece of identification for each executor or next of kin;
- A notice of withdrawal form for each account. This must detail how you want to receive the funds once the account is closed. You can request a form by calling 0121 557 2551, completing our online form of visiting your local branch. Each notice will need to be signed by all executors or next of kin; and
- The passbook for all open accounts.
For information on suitable savings identification please see our acceptable identification list.