Claim For A Deceased Customers Accounts: Fill & Download for Free

When Nomination is registered with the bank, the nominee can apply to the Bank, giving full details of the accounts of the deceased depositor. On receipt of the claim from the nominee, the branch will verify the photocopy with the original Death Certificate, Nomination number as registered in CBS, Nomination register.Signatures of two witnesses of good standing and integrity who are acceptable to the Bank should also be provided on the application. The witness can be any of the following:· Magistrate or Judicial official· Any Officer of the Central / State Government or Any Officer of the Bank.· Any two persons acceptable to the Bank.What if nomination is registered in favor of a minor?If the nominee is minor, the person appointed by the deceased account holder to act on behalf of the minor until he/she attains majority has to submit an application to the Bank, giving full details of the accounts of the deceased depositor.What is the procedure for claim settlement in case of deceased accounts, if the deceased customer's Accounts is having Survivorship Clause? (Either or Survivor, Former or Survivor, Later or Survivor and Any one or Survivor etc.)In case of deposits in Joint Names with Survivorship Clause (E or S, F or S, L or S and Any one or Survivor etc.)If the depositor dies, then it is sufficient for the survivors to make a simple application along with a photo copy of the Death Certificate for record of the Bank.For time deposits, the survivors can continue with the account by deleting the deceased depositor's name from the TDR/STDR / Other FDs.In case of Current Account/ Savings Bank Account, the survivors are advised to transfer the balance to a new account in their own name and Bank asks for a fresh account opening form.If the survivors want to close the accounts, they can do so. In case of term deposits, on request from the legal heir(s)/representative(s)/nominees, the deposit can be split into two or more receipts individually in the name of legal heir(s)/representative(s)/nominees. It shall not be construed as premature withdrawal of the term deposit for the purpose of imposing penalty clause for premature withdrawal provided the period and the aggregate amount of the deposit do not undergo any change. The interest shall be paid at the rate applicable for the period actually run.What if the joint deposit is without survivorship clause?When a joint account holder dies, in the absence of a clause like E or S, F or S, L or S, the balance can be paid jointly to the survivors and the legal heirs of the deceased.Example: If an account in the joint name of A and B, and if A dies, the balance will not be paid to B alone. It has to be paid to B and to the legal heirs of A jointly. The settlement can be made to the legal heirs of A either through legal representation or without legal representation as the case may be.What if the deceased customer's Accounts is having neither Survivorship Clause nor Nomination?In a deceased account where there is neither Survivorship clause nor Nomination, our Bank delivers the assets only to the legal heirs.As disposal with legal representation is time consuming, to improve customer service, our Bank has devised a system of settling the accounts without production of legal representation on the basis of Indemnity – cum – Affidavit. This is applicable only when:· The customer has died INTESTATE i.e. without a WILL and· There are no disputes among the legal heirs and all the legal heirs (other than those who have furnished a Letter of Disclaimer) join in indemnifying the Bank and there is no reasonable doubt about the genuineness of the claimant(s) being the only legal heirs.What is a Legal representation?A legal representation is one that is granted by a Court of Law entitling the legal heirs of the deceased to collect the debts/securities or assets of the deceased. Bank may opt for settling the matter through legal representation. The following documents represent different forms of legal representation:· Succession Certificate· Wills and Probate· Letter of Administration· Order of the Administrative General attached to the High CourtWhat are the documents required for disposal of deceased accounts without legal representation?Depending on the amount of claim, the following documents need to be submitted.· Photocopy of Death Certificate (original shall be verified by the bank).· KYC details of all the legal heir(s)· Account details of the Claimant(s) (If available)· Revised Claim Form duly filled and signed by the Claimant(s), other than those who signed the letter of disclaimer.· Letter of disclaimer· The Declaration in the Revised Claim Form regarding the Legal Heirs(s) of the deceased is to be signed by-o One independent person well known to the family of the deceased but unconnected with it and acceptable to the Bank ORo By any account holder of the Bank known to the family of the deceased but unconnected with it ORo By any Govt. Official whose signature is verifiable by the Bank.o Such Declaration has to be sworn as an Affidavit before the Judicial Magistrate or Notary Public as per COS-539, when the settled amount is more than Rs 5.00 lakhs.· Stamped Letter of Indemnity from the Claimant(s) plus one Surety good for the amount or two Sureties jointly good for the amount. Any legal heir(s) who has signed the Letter of Disclaimer in favour of other legal heir(s) may stand as surety if he/she is independently good for the amount of claim. Production of Surety should not be insisted upon when the settled amount is not more than Rs 5.00 lakhs.Please get in touch with the home branch for further assistance in this regard.

As a rule, one should not use the ATM card of the deceased customer. The bank should be notarized of his death and the claims be settled as per procedure.I had gone through a deceased case during my Service Manager tenure, that the wife of the deceased withdrew Rs 40000(10000×4) from the deceased account using his ATM card. Later , on disposal of claims it was traced the entries were after the death of the customer. She was a housewife widow with three minor children. Then we have obtained a stamped declaration that she had used the ATM of her husband to perform his last rites as she did not have any other source of income and children were minor and also that she was ignorant of the rules of ATM.The deceased case was settled after proper procedure.

Question: Have they found Diana Dors missing millions? I remember her son trying to decipher her coded notes years ago, but I haven't heard anything since.It was almost certainly a hoax.Think about it: The banks in question would send out statements to their customer to make certain that they hadn’t died if the accounts were inactive for extended periods of time.Those statements would need to go someplace, and the accounts could have been tracked down using that method. Additionally, it would have been exceptionally foolish for Ms. Dors not to keep some form of paperwork related to opening the accounts, on the off chance the bank embezzled her funds.Finally, unless Dors was extremely secretive about her travels, there aren’t many places that she could have traveled to in her relatively short life. Since Eastern Europe and Russia weren’t locations where people would have made deposits prior to the 1990s, and financially unstable locations like Greece and Spain were probably not desirable, it’s a virtual certainty that Dors limited her deposits to the major EEC/EU countries and the banking institutions located there.The ugly realities of the situation almost certainly are:Dors made the deposits and then they were seized by the various banks due to inactivity in the accounts.Dors made the deposits and they were then embezzled when the banks discovered the foolishness of her alleged code system.Dors made lower deposits than claimed and the entire code story is a hoax.Dors made no deposits at all and the code nonsense is a hoax made to keep her name in the spotlight long after her death.There are only so many banks in Europe and , at best, it would take five years or so to contact every single one to determine if a deceased relative had an account in one. Diana Dors died in 1984, and so by 1990 at the latest, her son should have been able to determine which banks had her deposits or if they even existed.Diana DorsReferences:https://www.telegraph.co.uk/films/0/diana-dorss-secret-code-quest-find-missing-millions/Secret code of Diana Dors' millions