Bereavement: savings accounts

If you want to know details of savings accounts the deceased held at Skipton, we're here to help, but there are some cases when, by law, we can't. Each type of savings account has particular rules.

Talk to our Bereavement team

0345 266 1209

Talk to us in branch

Find your local branch

 

Getting information about the accounts and balances

Please note, data protection laws mean we'll need to do a few identity checks before we're allowed to give you account information. The checks only take a few minutes. They won't be necessary if you're a Skipton customer.

If you’re named as an executor in the Will or there is no Will and you’re the legal next of kin, we can tell you the account balance(s) and interest due up to the date of death. You’ll simply need to show us the last Will or proof you’re the legal next of kin. If you can’t do this, you might need to appoint a professional representative, like a solicitor, to help you. If you’re unsure, please get in touch and we’ll go through everything with you.

How can I withdraw money?

Once we've been told about a death, payments out of a savings account are frozen. Here's what you need to do next.

Find out more

Find out what happens to different accounts

If an account is held in joint names, it automatically passes to the other account holder (in accordance with our Investment Account Terms & Conditions). If you’re not the other account holder, you’ll need to let us know why you need information about the account. Then we can check what information we’re able to give you, if any.

If the person that has died was a trustee on an account, we’re not able to release information about it because trust accounts don’t form part of their estate. If there are other trustees, dependent on how the trust was set up, we may get in touch with them.

If the person that has died had an ISA, under HMRC rules it will be credited with gross interest (without tax deducted) up to the date of death. The account will then be transferred to an Estate Management account and interest earned will be taxable at the relevant rate.

Under the Additional Permitted Subscription (APS) scheme you can transfer your spouse or civil partner’s ISA allowance to you if they pass away. If you’d like to know more about this, see our APS web page or call us on 0345 266 1209.

You can close a fixed rate bond early and be paid the accrued interest. Or if you prefer, you can leave it open until it matures.

You can also close Guaranteed Double Asset Bonds (GDAB) or Growth Bonds early or leave them until they mature. But if you close a GDAB or Growth Bond before the maturity date, you’ll only get the money back that was originally paid in.

If you decide to keep a bond open, the account has to be left in your loved one’s name and you won’t be able to withdraw any money from it until it matures. If you’d like to check the terms and conditions of the bond, just let us know.

 

Mortgages

Find out what to do if the person who has died held a mortgage with us.

Wills & funeral plans

If your loved one held any legacy products with our trusted partners, here's how to get in touch with them.

Talk to our Bereavement team

0345 266 1209

Talk to us in branch

Find your local branch

 

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