The Day I Die

Posted by shush

August 7, 2013

I recently learned that when a bank account holder dies and leaves an existing bank account, the only people allowed to claim the money from that account is the immediate family, i.e. spouse and children, if any.

What’s interesting about it is, they don’t ask for anything much but a death certificate and an identification card to enable the spouse or children to claim the account’s contents.

I find that scary.

What if someone suddenly arrives at the bank and has a fake identification card of my kids and my death certificate. Especially in my country where there is no existing central database to check the identification of each and every person residing in the country, this is very scary.

I wonder if they would add some more precautionary measures to these requirements to protect the accounts of the deceased from going into the wrong hands.

Keeping Safe, Money

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