Frozen account

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wazjulie
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Frozen account

Postby wazjulie » Sun Jan 30, 2011 11:54 pm

My husband passed away 3 years ago. One of the bank accounts he had was in his sole name. As he died in testate I was told by the bank that the account would be frozen until the lawyers had sorted out his affairs. We went for domicile in the UK, so it has been a long draw out process(2 years) As far as I knew the only money that was used from the account was for the funeral. As I thought the account was frozen, I was shocked to find out that direct debits have been and are still being taken from his account. Is that the norm in Spain?Can anyone shine a light on this one?

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Re: Frozen account

Postby gus-lopez » Mon Jan 31, 2011 9:11 am

By my understanding , yes. They continue to pay D/D 's & other regular payments.
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Re: Frozen account

Postby ValL » Mon Jan 31, 2011 10:58 am

Sorry to read of your loss, my husband died suddenly over a year ago and yes his account still pays the direct debits till the estate is sorted.

I hope you are coping the situation, it is far from easy at times.

Take care

Val

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Mowser
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Re: Frozen account

Postby Mowser » Mon Jan 31, 2011 11:57 am

Sorry to hear about your loss. There was a report that telefonica was taking money from a deceased's account although the phone had been cancelled! They took money from the account for a few years although the son of the woman concerned had cancelled the line.

(A lawyer in Spain recommends that once there is a death in the family, before the authorities have lodged the report, a family member should immediately go to the bank and withdraw as much as possible).
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Re: Frozen account

Postby ValL » Mon Jan 31, 2011 12:01 pm

With a solely owned account surely it is impossible for anyone to go to bank and remove funds ?

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Re: Frozen account

Postby Mowser » Mon Jan 31, 2011 12:20 pm

There are ways. I've done it in the UK.

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Re: Frozen account

Postby gus-lopez » Mon Jan 31, 2011 3:32 pm

ValL wrote:With a solely owned account surely it is impossible for anyone to go to bank and remove funds ?


Normally husband & wife are signatories on each others accounts specifically for this purpose. Our bank manager insisted we did it for this reason & on investments in individual names.
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Re: Frozen account

Postby El Cid » Mon Jan 31, 2011 5:22 pm

Even if it is necessary to have individual accounts, with online banking, if you know the password, you can transfer the money out immediately - useful if you are not in Spain at the time.

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Re: Frozen account

Postby spanish_lad » Tue Feb 01, 2011 10:04 pm

ValL wrote:With a solely owned account surely it is impossible for anyone to go to bank and remove funds ?



you dont know your husbands pin number ? you can take 300 a day on a card.
Alhaurin el Grande since ´99, working at the airport since 2011.

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boblocksmith
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Re: Frozen account

Postby boblocksmith » Sun Feb 06, 2011 1:12 pm

This thread has set me thinking - if you have a joint account which has the various utilities etc DDs coming out of it, and then my wife or I should die, it has been suggested that before the bank has been notified the money could be transferred to a newly opened account in the surviving partners name. This is OK but then all the various DDs will have to be stopped and changed to the new account. Would it not be better / possible to ask the bank to change the joint account into just the one name, effectively just removing one name from the account. Perhaps the problem would be that the deceased would need to have signed a doc. but is this the case or could one party just change the account. It seems that at the most difficult time in ones life the last thing you want is worry about bills being paid and accounts frozen.
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Re: Frozen account

Postby janda_grant2 » Sun Feb 06, 2011 2:06 pm

Don't know if this is true, but I was told that in the case of a joint account, the account is 'stopped' as a joint account at midnight onthe day that the person dies (or the bank is informed that the account holder had died) but that the survivng account holder could claim half af the amount in there at the time the account is frozen, and from then they are treated as the sole account holder allowing all monies in and out of the account as being theirs. (If that makes sense) But I'm not sure if this is just urban myth or it's true- perhaps Beach, El Cid or someone can confirm or deny.
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Re: Frozen account

Postby gerryh » Sun Feb 06, 2011 4:15 pm

All I can go by is what my bank manager told me.
My wife and I have a joint account. When one of us dies the survivor goes to the bank, opens an account in their own name and transfers all the money. Then tell the bank the partner has died.
I assume, at that point, the bank will sort out the direct debits that would have come from the joint account.
She offered to set up two individual accounts there and then ready for the day one of us dies.
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Gerry
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peteroldracer
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Re: Frozen account

Postby peteroldracer » Sun Feb 06, 2011 4:20 pm

spanish_lad wrote: you can take 300 a day on a card.

610€ a day with a Cajamar card.
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boblocksmith
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Re: Frozen account

Postby boblocksmith » Sun Feb 06, 2011 5:26 pm

gerryh wrote:Then tell the bank the partner has died.
I assume, at that point, the bank will sort out the direct debits that would have come from the joint account.

Would the bank really sort out the DDs or would you have to contact endesa , Agua, Basura, etc etc etc yourself -does anyone have experience of this?
Don't think there are no crocodiles because the water is calm.

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gerryh
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Re: Frozen account

Postby gerryh » Sun Feb 06, 2011 5:34 pm

boblocksmith wrote:[
Would the bank really sort out the DDs or would you have to contact endesa , Agua, Basura, etc etc etc yourself -does anyone have experience of this?

I'll ask them next time in in there.
Cheers
Gerry
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katy
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Re: Frozen account

Postby katy » Sun Feb 06, 2011 6:05 pm

I know someone who didn't realise they were going to close the bank account. She actually had to borrow money to pay for her husbands funeral!

The best thing to do would be not to inform the bank the partner has died if it's a joint account. Even better don't keep much in a spanish account if your income comes from the UK.

julian
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Re: Frozen account

Postby julian » Sun Feb 06, 2011 6:13 pm

isn´t all this "taking money from a joint account after the death of one of the account holders and not informing the bank of the death " a bit.......illegal ?

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janda_grant2
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Re: Frozen account

Postby janda_grant2 » Mon Feb 07, 2011 12:05 am

I know it's a bit different, but we changed branches of out bank from one in Antequera to one in Estepa - we had to close one account and open another but the bank did sort out all the direct debit - including Endesa, Telefonica, basura etc. Only one (car insurance) got missed. So am assuming that if you need to open a new account because a partner has died that would be the same. And yes Julian I expect not telling the bank some one has died is illegal, but people sometimes have to do what they need to do!
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gus-lopez
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Re: Frozen account

Postby gus-lopez » Mon Feb 07, 2011 8:26 am

boblocksmith wrote:
gerryh wrote:Then tell the bank the partner has died.
I assume, at that point, the bank will sort out the direct debits that would have come from the joint account.

Would the bank really sort out the DDs or would you have to contact endesa , Agua, Basura, etc etc etc yourself -does anyone have experience of this?

When I changed from non-resident to resident , years ago , the bank changed all the payments without any problems.
Todos somos Lorca.

katy
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Re: Frozen account

Postby katy » Mon Feb 07, 2011 11:21 am

I wasn't suggesting not informing the bank for a long time, just in the first few days when at a crucial time the last thing someone needs is to be visiting banks etc. When my Mother was ill she added me to an account of hers so that whilst in hospital I could see to household stuff for her. When she died I just transferred the money to another account of mine. May be straightforward for the bank to close a joint account and open another but we all know with some banks it doesn't always work like that.

Wouldn't recommend couples to have all their money in a joint account. I was told by my Solicitor when I was 21 never to do it. He said he had seen some terrible things happen when things turn sour.


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