Bereavement: Savings accounts

We've set up a dedicated email on SkiptonDirect-BereavementNotification@skipton.co.uk so you can notify us when a loved one who had accounts with Skipton or through our partners has passed away. When we receive the email we will update our system and write to you letting you know what you need to do next.

We will need to know:

• Details of the deceased person: their name, address, date of birth, date of death, whether there is a Will and any Skipton account numbers (if known).

• Details of the person notifying us: their name, address, relationship to the deceased person, email address, phone number and when we should contact them (we only call if we need more information or if you ask us to).

• Any additional information you want to give us.

You don't need to send any documents by email. If we need to see documents such as a death certificate, we will let you know how to send these to us.

If a savings account is held in joint names, it automatically passes to the other account holder(s) (in accordance with our Savings Account Terms and Conditions). If you’re not the other account holder, you’ll need to let us know why you need the information, then we can check what information we’re able to give you, if any.

If the deceased was a trustee on an account, we can’t release information because Trust Accounts don’t form part of their estate. If there are other trustees, we’ll get in touch with them. If there aren’t, the executor may need to seek advice about appointing a replacement.

You can’t transfer accounts into your name if you’re a beneficiary, but in some circumstances you may be able to close the accounts and transfer the money into a new account of your choosing, depending on the terms of the trust. Your loved one’s membership rights will not transfer to you – you’ll become a Skipton member in your own right.

If the deceased passed away before 6 April 2018 and held a Skipton ISA, the account will be transferred to an easy access Estate Management account and, in accordance with HMRC rules, interest earned will be taxable.

If they passed away on or after 6 April 2018, the funds are permitted to be within the ISA wrapper and will continue to earn tax-free interest until the first of the following occurs:

• administration of the estate is complete
• the ISA is closed
• three years after the date of death.

Under the Additional Permitted Subscriptions (APS) scheme, you can transfer your spouse or civil partner’s ISA allowance to you if they passed away on or after 6 April 2015. You can find out more on our Addition Permitted Subscriptions page.

If your loved one held a Fixed Rate Bond in their sole name, you can close it early and get paid the interest that’s built up. Or if you prefer, you can keep it open until it reaches the end of its fixed term. If you keep it open, the account has to be left in your loved one’s name. However, the title of the account will change to ‘personal representative of (name)’, and you won’t be able to withdraw money (including interest) from the balance until the fixed term ends, except for purposes of settling inheritance tax, funeral or probate costs.

If the account was held in joint names it automatically passes to the other account holder and it will stay in the bond until it reaches the end of its fixed term.