Any credit balances held in a late customer's sole name may be used to clear any money owing to the bank, such as an overdraft, loan or credit card debt. If this does not cover the whole debt, we may ask for this to be repaid from the estate. The executors or next of kin are responsible for settling any outstanding debts from the deceased’s estate.
Once we’ve been notified that a customer has died:
In order to be notified of a customer’s death, we usually need to see a copy of the death certificate and a completed Bereavement Notification Form(PDF).
There is no rush to deal with the personal accounts of someone you have lost. Once you have notified us that they have died, we will freeze their accounts to keep them safe. We will support you in managing their Triodos accounts as soon as you are ready.
What happens next will also depend on the type of accounts held:
We understand that this can be a really difficult time for you and your loved ones. If you would like to talk to someone about it, we recommend contacting Cruse Bereavement Care on their free helpline or web chat.
The timescales can vary significantly and are often dependent on a wide range of factors. Things like applying for Probate can take a long time and may slow things down. For this reason, if you tell us that you’re applying for Probate, we won’t contact you for at least six months.
If you’re not sure what’s happening with the process, or whether we're still awaiting outstanding documentation, please contact us on please give us a call on 0330 355 0355 (or +44 117 973 9339 from abroad). Lines are open from 8am-6pm, Monday to Friday, and 9am-6pm on Thursdays.
To let us know a customer has died, please call us on 0330 355 0355.
If you are also a Triodos customer, you may notify us by Secure Message via Internet Banking.
When we are notified that a customer has died, all their sole accounts are frozen and internet banking is removed. We also remove Powers of Attorney from the account, because the Will or any subsequent Grant of Representation will legally supersede these arrangements.
If you are a personal representative, please complete a Bereavement Notification Form(PDF) or call us on 0330 355 0355.
Where a legal firm has been appointed as executor of the estate, most of the process remains the same. A solicitor should complete the Bereavement Notification Form(PDF) and provide their name, company name and contact details. We will verify the firm and their position but will not request identity documents from them. Where other personal representatives or executors are also appointed, we will request permission to verify their identities where appropriate.
Most of the documents we request from you will be the same. However, in Scotland the Grant of Representation / Probate is referred to as the “Certificate of Confirmation”. Find out more on What to do after a death in Scotland (gov.scot).
Triodos Crowdfunding investments may be transferred to a new investment holder, who will need to open a Crowdfunding account if they do not already have one. It is sometimes possible to redeem the investments (have them paid out) instead of transferring them. This is ultimately at the discretion of the directors of the company that issued the investment.
You can indicate on the Bereavement Notification Form(PDF) whether you would like the investments to be transferred or redeemed. If you select the option to transfer, we will provide the new investment holder with a Stock Transfer Form to complete so they can transfer the investments (and any cash in the Crowdfunding ‘wallet’) to their name.
If you select the option to redeem, we will contact the issuing company to request this. Once we have received a response, we will let you know if the redemption is possible or if the investments must be transferred.
You can find more information on crowdfunding investments at www.triodoscrowdfunding.co.uk.
You only need to send us one notification form for all their accounts. We will send you a valuation of all the accounts if you request it on the Bereavement Notification Form(PDF). This is the first step in notifying us that the customer has passed away. Please note that some accounts can take longer to pay out than others. For example, it can take longer to sell investments and have the proceeds paid out. You can specify whether you would prefer to have everything paid out at the same time on the Bereavement Notification Form.
If the customer who has died only had Joint accounts or Business accounts, we don't require the Bereavement Notification Form, just a copy of the Death Certificate.
We recommend that you do not share your account security details with anyone. This includes your telephone password and any internet banking log in details or digipass codes.
Making a Will and appointing executors can make the process easier for those managing your estate. The Money Helper website from the Money & Pensions Service provides lots of advice for later life planning: Putting your financial affairs in order if you get ill or die – making a will and more (moneyhelper.org.uk)
The process remains the same as for UK residents, however proof of identity and address documents must be certified by an Embassy, Consulate or High Commission from the country where the documents were issued.
Please be aware that we don’t accept original passports or driving licences by post. Therefore, you may prefer to send certified copy documents by recorded or tracked delivery to ensure they don’t get lost in the post. But be aware, most delivery companies will charge for this service.
Our address is:
Bereavement Team
Triodos Bank
Deanery Road
Bristol
BS1 5AS
UK
If Probate is required, it must be obtained from the UK as we cannot accept overseas Probate documents for funds held here. You may wish to seek legal advice about how to arrange this, as we cannot provide advice on individual circumstances.
When the accounts are closed, the funds will be paid out in pounds sterling. Exchange rates and fees may apply if we are asked to pay funds overseas.
We can release funds from personal accounts to pay Inheritance Tax (IHT) when needed. If you are an administrator or executor, you may request that we pay HMRC directly from the accounts of the customer who has died. This is called the ‘Direct Payment Scheme’.
Before we can release funds for IHT, we require the Death Certificate and a completed IHT423 form. We also require at least one of the legal representatives to have passed our ID checks. You can obtain the form from HMRC – please follow the instructions on the Government website: Pay your Inheritance Tax bill from the deceased's bank account (www.gov.uk).
We will send the payment directly to HMRC, up to the balance of the eligible accounts. We recommend that you review how much is left in the accounts before requesting this.
When you fill in the Bereavement Notification Form(PDF), you can indicate whether you want a valuation of all the late customer’s accounts. We will send this to you as soon as we have verified the Death Certificate and gathered all the necessary details, usually within 10 working days. We cannot provide this information over the telephone.
If you don’t request it when you first notify us, you can still request this at any time by calling us on 0330 355 0355 or writing to us.
We can release funds from personal accounts to pay for reasonable funeral expenses. If you are an administrator or executor, you may request that we pay a funeral bill once you have provided the Death Certificate. Please ask the funeral provider to send us an official invoice or bill on headed paper by post, or a digital invoice from their company email address.
We will send them a cheque or electronic transfer to cover the funeral costs, up to the balance in the eligible accounts. We recommend that you review how much is left in the accounts before requesting this.
Joint accounts will remain open in the name of the surviving account holder who will be able to use the accounts as usual. In cases where the deceased only held a joint Triodos account and no sole accounts, please send us a copy of the Death Certificate so we can update our records. We will only need a Bereavement Notification Form(PDF) if the customer also held sole accounts in their own name.
‘Joint accounts’ here refers to Current Accounts (for daily banking) and Impact Investment Accounts. For business accounts, you’ll need to complete a Change of account operator form(PDF).
To notify us that a customer with a joint account has passed away, please email a scanned copy of the Death Certificate to [email protected]. If this isn’t possible, you can post an original or a certified copy to us at ‘Bereavement Team, Triodos Bank, Deanery Road, Bristol, BS1 5AS’.
Please note, you may want to send original or certified documents by recorded or tracked delivery to ensure they don’t get lost in the post. But be aware, most delivery companies will charge for this service. Alternatively, you can send documents to ‘FREEPOST Triodos Bank’. This is a second class service with no stamp required.
Depository Receipts (DRs) offer a way to invest directly invest in Triodos Bank. The register is managed on our behalf by an external provider called Captin.
These can only be transferred to a new DR holder, in accordance with the Will. The new DR holder will need to register with Captin and complete a further identity check with them before the DRs can be transferred into their name. Once the DRs have been transferred to the new holder, they can be sold via Captin. The beneficiaries will be able to review their holding with Captin once the transfer is complete.
We will provide more information on this if applicable.
An Additional Permitted Subscription (APS) allows a surviving spouse or civil partner a one-off ISA subscription equal to the total value of the deceased ISAs at the date of their death. This needs to be completed within three years of the date of death.
Unfortunately, we’re unable to accept an APS into a Triodos ISA, or facilitate an APS transfer to another provider. We can provide a one-off valuation of the deceased’s Triodos ISAs on date of death for an APS. This can be shared with other ISA providers who accept APS upon request. You can find out more about APS’s on the government website: Manage additional permitted subscriptions into an ISA.
We understand that everyone has different arrangements and will let you know exactly what we need from you. Please call us if you have any questions about what to provide.
Any Triodos Impact Fund Investments, whether held in an Impact Investment Account or Triodos Stocks and Shares ISA, will need to be sold and the proceeds transferred to a bank account chosen by the executor. Unfortunately, we’re not able to transfer the existing investments to a new investment account or beneficiary at the moment.
Please note that until the Triodos Impact Fund Investments are sold, they will remain invested which means their value may change. With any investment, there’s the risk that you could get back less than initially invested.
ISA accounts will be closed 3 years and 1 day after the date of death, if an instruction to close the ISA has not been received from the representatives of the estate, to comply with HMRC rules.
You can find more information on Triodos Impact Investments, Impact Investment Accounts, and Stocks and Shares ISAs at www.triodos.co.uk/impact-investments.
To let us know a customer has died outside of the UK, please call us on 0330 355 0355.
You may prefer to send certified documents by recorded or tracked delivery to ensure they don’t get lost in the post. But be aware, most delivery companies will charge for this service.
Our address is:
Bereavement Team
Triodos Bank
Deanery Road
Bristol
BS1 5AS
UK
Please read the Bereavement Notification Form for more information. This explains the other documents we need and the next steps in the process.
If you are also a Triodos customer, you may notify us by Secure Message via Internet Banking.
If Probate is required, it must be obtained from the UK as we cannot accept overseas Probate documents for funds held here. You may wish to seek legal advice about how to arrange this, as we cannot provide advice on individual circumstances.
When the accounts are closed, the funds will be paid out in pounds sterling. Exchange rates and fees may apply if we are asked to pay funds overseas.
A Grant of Probate is a legal document that authorises the executor to manage the estate in accordance with the Will. You can find more information at gov.uk/applying-for-probate. In Scotland, the Grant of Probate is referred to as the Certificate of Confirmation. You can find out more about what to do after a death in Scotland on the Scottish government website.
Letters of Administration may apply if the person who died did not leave a Will. These allow a family member or friend to act as the administrator of the estate.
Please note, if a Grant of Probate, Letters of Administration, or Certificate of Confirmation document is being applied for, we will need to see it. We will also need to see one of these documents if the value of the late customer's assets with Triodos Bank are worth £25,000 or more.
We don't offer unarranged overdraft facilities on the current account. Overdrafts are designed for short term borrowing. We can offer an overdraft facility where there is a specific purpose to cover unexpected expenses, for an agreed timeframe up to a maximum of 6 months. We don’t offer overdrafts to be used as a buffer in case of need. Eligibility criteria applies, with minimum 3 months' salary required to be paid into the account. We do this to ensure we only lend what people can afford to safely borrow. If you need to apply for an overdraft or to increase your limit please call us on 0330 355 0355. Our opening hours are published on our help and support page.
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