Once we’re notified of a death, the relevant teams will get in touch with you to explain the next steps and timescales. For more information on how to notify us, visit our page, What to do when someone dies.
If the deceased held any business account, we’ll update our records and if appropriate we’ll notify their Relationship Manager. If the business was:
Sole trader - All accounts in the sole name of the deceased will be updated immediately. Any standing orders and Direct Debits will be cancelled. If we receive any cheques for settlement or debit card transactions not claimed prior to notification, these will be returned unpaid.
We’ll continue to accept credit payments which may be due to the deceased.
Any debit card in the name of the deceased together with any telephone banking, online banking or payment arrangements will be cancelled automatically. Interest, fees and charges may be applied after you have let us know that the account holder has died. If this happens, we’ll refund them from the date of death when we close the account.
Limited Companies
Sole director who was Sole Signatory and Sole Shareholder - No other person is authorised by the company to instruct the Bank with a new mandate. Shareholding interest passes to the estate and it’s for the beneficiary of shareholding to appoint a new director to provide a mandate.
Sole director who was Sole Shareholder but not the Sole Signatory - As above a new director would need to be appointed after grant of probate. However, if there are sufficient remaining signatories to give instructions in accordance with mandate, the account may continue for a short period for normal company purposes pending appointment of new director and new mandate.
Sole director who was the Sole Signatory but not the Sole Shareholder - If the deceased was the sole director and sole signatory, but there’s at least one shareholder remaining, then there’ll be no one authorised to instruct the Bank under the mandate. This means that no payments can be made from the account other than any standing orders and direct debits that have previously been authorised before the death of the sole director and sole signatory. The shareholders should seek advice on appointing a new director.
Partnerships - When a partner dies the partnership is automatically dissolved, unless a partnership deed has been executed which allows the partnership to continue in the event of the death of one of the partners. If there is a Partnership Deed this will need to be provided to us as soon as possible. If not, the only payments permitted from account will be existing debts of the partnership for the purpose of winding down the partnership. Where the business needs to continue to operate, please contact us immediately and we can arrange an appointment for someone to seek the advice of one of our business managers and to discuss the future banking options for the business
A Limited Liability Partnership - is a separate legal entity. The death of a member won’t, therefore, normally affect the Limited Liability Partnership's ability to continue trading.
Clubs & Societies - If the deceased was a signatory on an account, we will update our records and provided the signing instructions on the mandate aren’t affected, the account(s) can continue to operate normally. Where this is not the case please contact us immediately as the club or society will have to appoint a further nominated signatory and provide a new mandate to allow the bank account to continue to operate.
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