Bereavement

Sole account

Their account will be frozen and any payments into and out of the account stopped. The personal representative will receive a list of any direct debits and standing orders on the account. Where any payments still need to be made, contact the payee to make other arrangements.

After you've contacted us, we'll stop any account fees.

If there is interest on the account, it will continue to be applied until the account is closed.

If the account is using an arranged or unarranged overdraft, we'll let the personal representative know how much needs to be repaid.

Joint account

The account will become a sole account and remain active. All payments into or out of the account will continue as normal.

We’ll arrange for any credit cards held in their name to be cancelled and explain any next steps. These steps will depend on whether there is an outstanding balance on the account.

If they were an additional card holder we can remove them from the account. Any outstanding spend made by the additional cardholder will still be the primary cardholder's responsibility to pay back.

Fixed term deposits

These can either be left until maturity and will continue to earn interest. Or you can decide to close them, whether they are joint or sole accounts, without receiving a penalty.

Cash ISAs

Interest will continue to be applied until the account is closed.

If the ISA belonged to your spouse or civil partner then you’re likely eligible to inherit their ISA allowance. This is known as ‘additional permitted subscriptions’ (APS). This means you get a one-off additional ISA allowance on top of your normal tax-free ISA allowance. The value of the additional ISA allowance is either the value of their ISA at the date of death or when the account's closed, whichever is the highest. When you contact us we can provide information on how to claim the additional ISA allowance.

All other savings accounts

Interest will continue to be applied until the account is closed.

Sole mortgage

The mortgage may be covered by a life insurance policy. If not, payments will need to be arranged. When you contact us we can provide guidance on what options are available.

Joint mortgage

The mortgage may be covered by a life insurance policy. If not, the monthly payments will continue as before. Usually, the mortgage will transfer to a sole mortgage once we've received the death certificate. If you have any concerns please contact us and we can provide guidance on what options are available.

After you've contacted us, we’ll stop the Account Charge.

The money will remain invested until we pay the money out, or we’re told to sell the investments by the personal representative. While the money is still invested, we'll continue to charge the Annual Management Charge, as outlined in our investment charges.

Stocks and shares ISA

Note that if the ISA belonged to your spouse or civil partner then you’re likely eligible to inherit their ISA allowance. This is known as ‘additional permitted subscriptions’ (APS). This means you get a one-off additional ISA allowance on top of your normal tax-free ISA allowance. The value of the additional ISA allowance is either the value of their ISA at the date of death or when the account's closed, whichever is the highest. When you contact us we can provide information on how to claim the additional ISA allowance.

After you've contacted us, we’ll stop the Account Charge.

The money will remain invested until we pay the money out, or we’re told to sell the investments by the personal representative. If the funds are invested in a Navigator pension, we’ll stop any further automatic switches.

While the money is still invested, we'll continue to charge the Annual Management Charge, as outlined in our pension charges.

There may already be named beneficiaries for the pension, we’ll always consider them when deciding who to pay the money to.

Our insurance provider will let you know if any additional information is required and what the next steps will be.

Sole account

We’ll let the personal representative know how much needs to be repaid.

Joint account

The loan will transfer to a sole loan account after we receive the death certificate.

Sole traders

Sole trader accounts will be frozen and any payments into and out of the account stopped. The personal representative will receive a list of any direct debits and standing orders on the account. Where any payments still need to be made, contact the payee to make other arrangements.

If there is interest on the account, it will continue to be applied until the account is closed.

If the account has any outstanding borrowing, the Relationship Manager will be in contact to discuss the borrowing along with the security held against the lending.

Partnership

Where no formal Partnership Agreement is in place, it’s likely the account will be frozen and any payments into and out of the account stopped.

Where there is a Partnership Agreement in place that allows the partnership to continue, the account can remain open.

Where there is a Partnership Agreement which does not allow the partnership to continue it’s likely the account will be frozen and any payments into and out of the account stopped.

In all cases, the Relationship Manager will be in contact to discuss the next steps. They will provide assistance and advice regarding any outstanding partnership borrowing and relating security. You may wish to continue the business in a new partnership or as a sole trader (if only 1 partner remains).

Limited Company

If the sole director died and the company is to continue, the shareholders need to appoint a new director and update the mandates.

If the sole director was a sole shareholder, the Relationship Manager will be in contact regarding the next steps.

Where one or more director remains and the business is to continue, the accounts will remain open. The mandates may need updating.