Supporting you through bereavement
We are sorry to hear someone has died and appreciate that dealing with financial affairs when you are grieving is never easy.
To help you understand what you need to do, we have put together this guide so you can read it when you feel ready.
We are also on hand to help and assist you;
Please call us on 020 7224 2277, our lines are open from Monday to Friday 9 AM to 5 PM
or visit us in branch from Monday to Friday 9 AM to 5 PM
Branch Address : 13 George Street, London W1U 3QJ
Let us know someone has passed
There are a few ways you can let us know that someone has passed away.
Phone: Call us on 020 7224 2277 to speak to an adviser
Email: Write to us at Info@nbki.com
Branch: Visit us in branch if you prefer to speak to someone in person. We recommend booking an appointment first; or
Post: Write to us at 13 George Street, London W1U 3QJ
What happens after you let us know that someone has passed away
Once we receive your notification, we will stop any further communications to the account holder.
We will freeze Sole Account(s) – or account(s) in the deceased’s name only – in other words, we will stop money from leaving and entering the associated sole accounts to secure them; we will cancel any standing orders and direct debits and cancel all cards related to the account(s).
As for Joint Accounts, if you are one of the named account holders, you can still use your joint account. We will amend all accounts and stationery to your name, so you will be able to use the account as normal. If you have become the sole account holder for a joint account and it has an overdraft, this will now be in your name.
Documents you will need to close the account
To help us to review any accounts and products we will need two things:
1. A death certificate: This will need to be an original or a certified copy of a UK or Foreign death certificate (it has been translated to English).
2. A proof of identification: If you do not have an account with us, please bring two forms of ID, one of which showing your address.
How is an account closed?
This depends on the balance on the account(s) and we shall discuss with you if a Grant of Probate or Letters of Administration is needed or not.
A Grant of Probate/Letters of Administration is the legal certificate that gives the named person(s) the authority to deal with a deceased person’s affairs in accordance with their will or letters of succession.
If the total balance in all the deceased’s accounts at NBKI is over £25,000 or equivalent, we will require a UK issued Grant of Probate before funds may be paid to the named executor(s). As stated above, if this is the case, we will let you know. If the deceased hasn’t left a will, a close relative can apply for a letter of administration from the probate registry. The process is the same as applying for a Grant of Probate.
If the total balance is under £25,000, we may authorise payment of account balances without a grant of probate/letter of administration. We will inform you of the process to close the account and documents required.
Can money be released before the account is formally closed?
Yes, in limited circumstances.
You may be able to use money remaining in the deceased’s account to cover funeral costs or pay any tax due to HMRC if applicable. We can discuss this directly with you if you need more information.
If you require assistance in locating a UK law firm please contact the law society or us directly, see the following link for further details.