What happens if a bank account holder or depositor dies? Who can access deceased person’s savings account or deposits? What is the procedure to claim balance?
Death is inevitable for all of us. At the same time, opening a bank account is a common thing for all of us (whether we earn or not). In such a situation, what happens if a bank account holder dies? Let us try to understand this aspect in detail.
How many of us thought of a situation where we are not here and in that case who will be the authorized person to operate our savings account? What is the procedure to claim such accounts? Whether your family members aware of this process?
Can You Withdraw Money From The Account Of A Deceased Person?
We as humans always look for the easiest ways. This applies here too. As a family member of a deceased person, we may be aware of the ATM card PIN or Internet banking login details. Hence, many think that rather than informing the bank about the death and following the bit lengthy process…