How to withdraw money when the depositor dies with password unknown?
Many clients come to us for legal consulting. They want to know, after the death of the depositor, if the heir does not know the account password or lost passbook, bank cards, etc., how can the heir withdraw the money?
You may think it is very complicated, in fact, the CBRC and the People’s Bank of China have issued the Notice of the General Office of the CBRC and the General Office of the People’s Bank of China on Simplifying Matters related to the withdrawal of small Deposits of deceased Depositors in 2021, which greatly simplifies the procedures for the withdrawal of small deposits of deceased depositors. Let’s take a look at the specific provisions below:
A qualified successor of a deceased depositor who applies to a banking financial institution for the withdrawal of the deceased depositor’s small deposits shall meet the following conditions at the same time:
(1) The total balance of the deceased depositor’s account in the same corporate banking institution does not exceed 10,000 yuan (or equivalent foreign currency, excluding outstanding interest);
(2) The applicant for withdrawal is the spouse, children or parents of the deceased depositor, or the successor or legatee designated by a notary will;
(3) The withdrawal applicant agrees to withdraw the deceased depositor’s deposits and interest in one lump sum, and cancel the deceased depositor’s account after the withdrawal.
Banking financial institutions may increase the account limit stipulated in item (1) of this article, but the maximum amount shall not exceed RMB 50,000 yuan (or the equivalent amount in foreign currency, excluding outstanding interest, and foreign currency deposits shall be converted according to the central parity rate of exchange rate published by the State Administration of Foreign Exchange on the day of withdrawal).
In other words, if the deposit amount is less than 10,000 yuan (the specific amount is subject to the requirements of each bank), the spouse, children and parents of the deceased depositor can directly apply to the bank to withdraw the deposit.
The spouse, children and parents of the deceased depositor who handle the small deposit withdrawal business of the deceased depositor shall submit the following materials to the banking financial institution where the deposit is located:
(1) death certificate and other materials that can prove the death of the deceased depositor;
(2) household registration books, marriage certificates, birth certificates and other materials that can prove kinship;
(3) to extract valid identity documents of the applicant;
(4) Draw the letter of commitment signed by the applicant.
If the deposit amount exceeds the account limit set by the bank, the withdrawal of the deposit requires a notarial certificate issued by a notary public. If the amount of the deceased’s estate is less than 50,000 yuan, the notarization of the collection and storage of small property can be handled according to the summary procedure, and the application is handled by one or more of the legal heirs. The applicant should generally follow the following sequence:
(2) adult children;
In the event of the death, disappearance or incapacity of the applicant in the first place, the matter may be handled by the applicant in the second place. The parties who jointly apply for inheritance may entrust one of the applicants to handle it, and provide a power of attorney and identity documents. When applying for notarization, the applicant shall generally provide the following evidence materials:
(1) the applicant’s identity card and household register;
(2) the death certificate of the decedent;
(3) proof of the decedent’s marital status;
(4) proof of the decedent’s kinship;
(5) property certificate;
(6) Other certification materials deemed necessary by the notary public.
If the amount of the deceased’s estate exceeds 50,000 yuan, it is necessary to handle the inheritance notarization in accordance with the ordinary procedures. The inheritance notarization usually requires all the heirs to present the application, and those who cannot apply in person and are charged by the trustee should provide a notarized power of attorney, and those who renounce the inheritance should provide a notarized declaration of renunciation of inheritance (they can also make a statement at the notary office on the spot). And the heirs who have the right to inherit can agree on the share of inheritance.
Before notarization, should provide a clear certificate of inheritance, if the deposit is not informed, you need to first to the notary institution to issue a deposit inquiry letter (provide: the applicant’s valid ID card, the death certificate of the deceased, the applicant and the deceased’s relationship certificate), and then to the bank, securities company inquiry.