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’.
The IHT423 Form
The IHT423 form is used to transfer money from someone’s bank, building society, or National Savings and Investment account when they pass away. You can download the form on the Government’s website.
In order to complete the form, you will need personal details of the person who has passed away and their account details. Up to four representatives will then need to complete the second page of the form. It is important to complete a separate form for each account. You should send the completed form to the provider, who will then process the next steps.
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:
Proof required to access a bank account when someone dies
Proof of identity and proof of address for each executors/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/next of kin; and
The passbook for all open accounts. If your late friend or relative’s estate is below £15,000, you will need to complete a Statutory Declaration Form. Different sections of the form need to be completed based on the total balance(s) in any account(s). Section 3 must then only be completed if probate has not been obtained and the closure is below £5,000.
For information on suitable savings identification please see our acceptable identification list.
If probate has not been obtained, but the closure is between £5,000 and £15,000, you should complete Section 4 instead. Please note, that if you complete Section 4, then Section 5 will also need to be completed by a Commissioner for Oaths or Solicitor.
On our form, you must always complete section 1 (Details of the deceased customer) and section 2 (Details of the Executor(s)).
The Statutory Declaration Form
If your late friend or relative’s estate is below £15,000, you will need to complete a Statutory Declaration Form. Different sections of the form need to be completed based on the total balance(s) in any account(s).
On our form, you must always complete section 1 (Details of the deceased customer) and section 2 (Details of the Executor(s)).
Section 3 must then only be completed if probate has not been obtained and the closure is below £5,000.
If probate has not been obtained, but the closure is between £5,000 and £15,000, you should complete Section 4 instead. Please note, that if you complete Section 4, then Section 5 will also need to be completed by a Commissioner for Oaths or Solicitor.
For information on suitable savings identification please see our acceptable identification list.