To locate a deceased person's bank account, an individual must determine if the bank is open, closed or has merged with another bank. Proof of ownership of the account must be provided before access is allowed, states the FDIC.Continue Reading
If the bank is still open, an individual can ask a representative if the account or a safe deposit box in the deceased person's name still exists. The bank may ask for a death certificate, and either a power of attorney or documentation from the courts listing an executor of the estate, reports the FDIC. If the account was recently closed, the bank may still have the assets. For older accounts, the bank may have transferred the funds to the unclaimed property office in the state of the account owner's last known address.
If the bank does not have the account, the FDIC may have possession of the assets, including deposit accounts and valuables from safe deposit boxes. However, it holds onto these assets for a limited period of time before transferring them to unclaimed property offices, according to the FDIC. Some companies may offer to help track down unclaimed property for a fee, but individuals should exercise caution to avoid potential scams.Learn more about Bank Accounts
To check a bank account balance online, a customer typically goes to the "online banking" section of the bank's website and logs into his account. The first step to gain online access with many banks is to register. TD Bank and Union Bank both direct customers to enroll first.Full Answer >
A guaranteed bank account, also known as a second chance checking account, is an option some financial institutions offer to customers that have a poor bank account history, according to ChexSystems. If customers have had a checking account closed due to bouncing checks or overdrawing the account without paying back the money, they may be denied regular bank accounts. Guaranteed accounts have higher fees and less functionality than regular accounts, such as no overdraft protection or no debit card.Full Answer >
Opening a bank account online requires providing the bank with identification, determining the type of account that you want and funding the new account once it has been approved. There are government rules regarding identity verification that govern the opening of all bank accounts, according to Ally.com.Full Answer >
According to BALANCE, a financial fitness program, when a charge hits your bank account and there are insufficient funds to cover it, either your bank may refuse the charge or allow your account to go into a negative balance. If the bank allows an overdraft, it typically applies a charge for each item that overdraws the account, and these fees can stack up.Full Answer >