Birth, old age, sickness and death are inevitable stages of life
When the depositor dies
How the heirs can withdraw their bank deposits
April 26th
State Administration of Financial Supervision and Administration
The People's Bank of China jointly issued a joint release
Notice on Optimizing the Requirements for Withdrawal of Small Deposits by Deceased Depositors
(hereinafter referred to as the Notice)
Simplify withdrawing account limits from the increase
expand the scope of simplified extraction, etc
Provide more convenience for the masses to handle deposit inheritance
Let's take a look at the new rules
What's changed?
#变化一#
The simplified withdrawal limit has been uniformly increased to 50,000 yuan
According to the Notice, the account limit for simplified withdrawal of small deposits of deceased depositors has been uniformly increased from a minimum of $10,000 to $50,000.
For a long time, according to the relevant documents, the heir to withdraw the deposit of the deceased relative must submit a notarial certificate of inheritance issued by a notary public, and the bank can use it to handle the transfer or payment procedures.
This provision has played an important role in ensuring the safety of the deposit and protecting the interests of the heirs, but in the case of a small amount of deposits, the heirs are still required to go through notarization, which will make the heirs bear unreasonable time costs and notarization fees. In particular, the burden is even heavier for remote areas and the economically disadvantaged masses.
In 2021, the former China Banking and Insurance Regulatory Commission and the People's Bank of China issued relevant documents to remove the notarization requirement for first-order heirs, heirs designated in notarized wills or legatees to withdraw deposits of deceased depositors within 10,000 yuan, and allowed banks to increase the limit between 10,000 yuan and 50,000 yuan.
"After the promulgation of the document, the efficiency of withdrawing small deposits has been significantly improved, and the burden on the masses has been effectively reduced. At the same time, we have also learned from various sources that there are still some problems that need to be improved and clarified in the deposit inheritance and small deposit withdrawal business. To this end, based on the convenience of the financial sector, on the basis of in-depth investigation and research and full listening to the opinions of all parties, optimize the relevant requirements of the early policy. The person in charge of the relevant department of the State Administration of Financial Supervision said.
The notice raises the account limit for simplified withdrawal of small deposits of deceased depositors from a minimum of 10,000 yuan to 50,000 yuan. This means that if the total account balance of the deceased depositor in the same legal person banking financial institution does not exceed 50,000 yuan, the heir can withdraw the deceased depositor's deposit and interest at one time without submitting a notarial deed.
#变化二#
Expand the scope of simplified extraction
It's not just bank deposits that can simplify withdrawals. According to the previous regulatory provisions, the scope of simplified withdrawal includes deposits, as well as non-deposit financial products issued by banking financial institutions themselves.
The notice further expands the scope of simplified withdrawal, including gold accumulation products, treasury bonds, and consignment wealth management products, which are combined with bank deposits and included in the withdrawal limit of 50,000 yuan.
So, what materials do the heirs need to submit to the bank when withdrawing the deceased depositor's small deposit?
According to the relevant regulations issued in 2021, the materials that the heirs should submit to handle the withdrawal of small deposits of the deceased depositor include: materials that can prove the death of the deceased depositor, a valid identity document of the applicant, a letter of commitment signed by the applicant, a household register, marriage certificate, birth certificate and other materials that can prove the family relationship, or a notarized will that designates the applicant as the heir or legatee of the deceased depositor.
The notice requires banks to strengthen and improve financial services, and if the relevant materials submitted by the applicant are incomplete or do not meet the requirements, the banking financial institutions shall inform the applicant of the relevant requirements at one time.
#变化三#
Clarify the requirements for querying the details of the trading account
Can the heirs check the transaction details of the deceased depositor's bank account?
The notice clarifies that the bank may, upon request by the first-order heirs, provide details of account transactions after the death of the deceased depositor and within 6 months before the death.
The person in charge of the relevant department of the State Administration of Financial Supervision said that the transaction details of the bank account of the deceased depositor record part of the personal information of the deceased depositor during his lifetime, and may involve personal privacy, so he should be treated with caution. However, in reality, there is also a reasonable need for the heirs to inquire about the transaction details of the deceased depositor under certain circumstances. The heirs' lawful and legitimate needs for inquiries shall be satisfied.
In order to take into account the protection of personal information and the needs of heirs to inquire into each other, in accordance with relevant laws and regulations, the notice clarifies the relevant requirements for inquiring account transaction details to meet the needs of inquiries under specific circumstances. In order to avoid unnecessary and unlimited inquiries and protect the personal information and privacy of deceased depositors, the circular stipulates the applicant for inquiry and the time limit for inquiry.
"We encourage banks to agree in advance with depositors on matters such as the inheritance of deposits after their death and the inquiry of transaction details through contractual agreements. The person in charge of the relevant department of the State Administration of Financial Supervision said.
#变化四#
Funeral expenses and pensions can be withdrawn in full and simplified
In reality, there are cases where funeral expenses and pensions are remitted from the accounts of deceased depositors. Previously, there were no clear regulations on the withdrawal of funeral expenses and pensions.
Considering that funeral expenses and pensions are different in nature from those deposited by the deceased depositors during their lifetime, in order to facilitate the public, the notice clarifies that funeral expenses and pensions are not included in the account limit of 50,000 yuan, and can be withdrawn in full.
The person in charge of the relevant department of the State Administration of Financial Supervision said that the applicant can indicate that the funds in the account belong to funeral expenses and pensions in an appropriate way. The bank confirms the nature of the funds by verifying the transaction information and the source of funds, and the applicant signs a letter of commitment, etc., and handles simplified withdrawals on the premise of ensuring the safety of the funds.
Source: Xinhua News Agency