So with most forms that have to do with money/investments one is asked to provide details of your next of kin...

It would seem that when something happens to you, the other party would proactively contact your ‘next of KIN’?

I really don’t think this happens!

So I ask, has anyone ever been contacted by a Bank/Investment institution to say,
...“we discovered our customer’s account has been dormant for a while and made several attempts to reach them but failed.
Kindly help with a verifiable update on the customer and if dead come in to claim their funds/items”.

if not, shouldn't there be law to mandate such?

Last Days

Caracta

adexsimply:
Caracta

Told you.



Yes OP, next of kin can be contacted and he/she can lay claims to the account of the deceased in event of death except other legal agreement states otherwise.

And customers with large sums in dormant accounts are usually contacted to reactivate their accounts. And if no response after a while, next of kin would be contacted.

Caracta:


Told you.



Yes OP, next of kin can be contacted and he/she can lay claims to the account of the deceased in event of death except other legal agreement states otherwise.

And customers with large sums in dormant accounts are usually contacted to reactivate their accounts. And if no response after a while, next of kin would be contacted.

you're my next of kin.

adexsimply:
you're my next of kin.

I don't want

Caracta:


I don't want

LOL.

Wait, does that mean if I go underground after I've robbed a bank, you'll be arrested and jailed in my place?

Caracta:


Told you.



Yes OP, next of kin can be contacted and he/she can lay claims to the account of the deceased in event of death except other legal agreement states otherwise.

And customers with large sums in dormant accounts are usually contacted to reactivate their accounts. And if no response after a while, next of kin would be contacted.

Are you sure they are contacted? I have not heard of one... ever!

Essence is that at least there is someone to start talking to. Being next of kin does not give automatic right of access. There is still a process to follow. Someone who may not even be the next of kin may end up with the right of access.