How Do You Recover Money From A Dead Relative Bank Account? - Family (3)

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,231 members, 7,818,781 topics. Date: Monday, 06 May 2024 at 03:00 AM

How Do You Recover Money From A Dead Relative Bank Account? - Family (3) - Nairaland

Nairaland Forum / Nairaland / General / Family / How Do You Recover Money From A Dead Relative Bank Account? (36725 Views)

Your Experience As A Rich Or Only Rich Relative.. / I Saw A Dead Family Friend Two Years Later / What's The Biggest Gift Your Abroad Relative Has Ever Given To You? (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: How Do You Recover Money From A Dead Relative Bank Account? by Tsmile25: 5:34pm On Jul 03, 2019

For more info on how to go about Letter of Administration contact Madebrief Solicitors via 08030737761.
Thanks

Re: How Do You Recover Money From A Dead Relative Bank Account? by rufdan(m): 5:34pm On Jul 03, 2019

Yes man

iammiracle1:

10% ? Is that right?

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:35pm On Jul 03, 2019

Bros,

If the wife is they, and dey are lagal married , take the wife and the son to court (high court) of that state. But before you go 1st get a death certificate from a govt hospital.
The court will now give you what is called bank certificate to get the bal.of the money in the account.
You will take back to court and the bank will issue you with what we call Letter Of Administration.
With that you can assce the money .

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by Alejobs: 5:37pm On Jul 03, 2019

Let's find our way back to love

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:37pm On Jul 03, 2019

You can do it without paying any body.

Lawyer will charge you very well if you go to them.

Am a banker .

Thank you.

1 Like 1 Share

Re: How Do You Recover Money From A Dead Relative Bank Account? by miketayo(m): 5:38pm On Jul 03, 2019

xynerise:
Please guy, before I start chasing shadows trying to recover the money in my late brother's bank account, I would like to know the steps to take. Until his death, he lived in the northern part of Nigeria where the bank is also located.

1. Do I have to travel to his bank location to make necessary procedures or I can do that elsewhere where the bank has a branch?

2. What are the procedures?

Thank you for your assistance

Who is his next of kin

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:38pm On Jul 03, 2019

gafaardy:
Yes you can get it.The procedure depends on the amount.If the amount is less than #500,000 It will be regarded as small estate which sum could be obtained by court order.If it is more than that it will require obtaining a letter of administration from probate registry of the court.In summary you need a lawyer,if you are in Ibadan I can be of assistance.
NB : you don`t need to go to his state of residence to get it done

It's a big lie.
We got millions and didn't involve any lawyer.
They only wasted our time as the person pursuing the case was very busy.

3 Likes 2 Shares

Re: How Do You Recover Money From A Dead Relative Bank Account? by Mires: 5:38pm On Jul 03, 2019

xynerise:
Please guy, before I start chasing shadows trying to recover the money in my late brother's bank account, I would like to know the steps to take. Until his death, he lived in the northern part of Nigeria where the bank is also located.

1. Do I have to travel to his bank location to make necessary procedures or I can do that elsewhere where the bank has a branch?

2. What are the procedures?

Thank you for your assistance

Bro, it is not a rocket science. First, I hope there's a dead certificate. If yes, approach a high Court with the above mentioned document and you will be guided accordingly on how to apply for letter of administration. A token will be paid as processing fee. The court after the application will publish it on state newspaper and a copy will be issued to you. After twenty one days of the publication, you will be given a document to take to the bank and declared the total money in the deceased account. Once that is done, you will have to pay 10% or 5% of the declared amount to the government depending on the State. From the date of payment, 42 days will begin to count. Once it elapsed, you will be issued the letter of administration and the bank will open an estate account in which you will be made the administrator.

Mind you, it has nothing to do with whether you are next of kin or not. The essence of the publication is to give enough time for anyone who's not comfortable with your application to approach the court before the letter of administration is issued.

1 Like 1 Share

Re: How Do You Recover Money From A Dead Relative Bank Account? by ibietela2(m): 5:38pm On Jul 03, 2019

xynerise:
Please guy, before I start chasing shadows trying to recover the money in my late brother's bank account, I would like to know the steps to take. Until his death, he lived in the northern part of Nigeria where the bank is also located.

1. Do I have to travel to his bank location to make necessary procedures or I can do that elsewhere where the bank has a branch?

2. What are the procedures?

Thank you for your assistance

It's a difficult process o...
You will bring death certificate
Letter of administration from the court,
The court will process and publish your matter for 2 weeks, etc...

In all make sure you have at least 100k to run the court process and death certificate.

Good luck

Re: How Do You Recover Money From A Dead Relative Bank Account? by GTFO(f): 5:39pm On Jul 03, 2019

onyxo76:
You will need a lawyer to help you apply for a letter of administration from the court to take to the bank, the funds will now be moved into an estate account which can now be accessed by a would be signatory but its a process that can take a while, you will also pay 10 percent of the total amount in the accounts to the state treasury before the letter of administration is released to you

but how would you know the balance ?

i mean will the banker(s)/bank manager(s) not tell a lie about the actual balance in the said account for their own selfish interest??

Re: How Do You Recover Money From A Dead Relative Bank Account? by Ayemileto(m): 5:40pm On Jul 03, 2019

xynerise:

The wife was saying she doesn't have access to his assets neither the pin to his credit card. She is a bit naive in things like this so I want to get involved too.

From what I've read in newspapers before now, getting the money from Nigerian banks usually take years, because they will keep asking you to get one thing or the other. Stuffs like Death certificate, court avidaffit etc.

If the money isn't much, i will simply advise you to other stuffs online with his debit card and resell them. This is quite possible if you have access to his card and phone - to receive OTP.

Also, if you can unlock his system or phone, there is chances he would have saved his internet banking details in a browser or app, you can easily get his password and get into his internet banking account from there.

Re: How Do You Recover Money From A Dead Relative Bank Account? by Alejobs: 5:40pm On Jul 03, 2019

We can make a difference with just a smile

Re: How Do You Recover Money From A Dead Relative Bank Account? by ChiefSweetus: 5:40pm On Jul 03, 2019

Condolences on your brother's passing, sir.

I remember your moniker from way back. God comfort the entire family. cry

2 Likes

Re: How Do You Recover Money From A Dead Relative Bank Account? by GTFO(f): 5:40pm On Jul 03, 2019

ibietela2:

It's a difficult process o...
You will bring death certificate
Letter of administration from the court,
The court will process and publish your matter for 2 weeks, etc...

In all make sure you have at least 100k to run the court process and death certificate.

Good luck

kilode, how much is now even inside the account bayi sad

3 Likes

Re: How Do You Recover Money From A Dead Relative Bank Account? by ibietela2(m): 5:40pm On Jul 03, 2019

sonibota:
The procedure is cumbersome if he didnt leave a Will. You will need an LOA (Letter of Administration) and this is not a kettle of fish. You will need to talk to a lawyer who will initiate the process.

You don't need a lawyer

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by GTFO(f): 5:41pm On Jul 03, 2019

Ayemileto:

From what I've read in newspapers before now, getting the money from Nigerian banks usually take years, because they will keep asking you to get one thing or the other. Stuffs like Death certificate, court avidaffit etc.

If the money isn't much, i will simply advise you to other stuffs online with his debit card and resell them. This is quite possible if you have access to his card and phone - to receive OTP.

Also, if you can unlock his system or phone, there is chances he would have saved his internet banking details in a browser or app, you can easily get his password and get into his internet banking account from there.

hmnnn sense

Re: How Do You Recover Money From A Dead Relative Bank Account? by jabolo(m): 5:41pm On Jul 03, 2019

onyxo76:
You will need a lawyer to help you apply for a letter of administration from the court to take to the bank, the funds will now be moved into an estate account which can now be accessed by a would be signatory but its a process that can take a while, you will also pay 10 percent of the total amount in the accounts to the state treasury before the letter of administration is released to you

This.

The Letter of administration is the first step and a good lawyer will guide you through this. The procedure varies depending on the court jurisdiction but there may be requirements such as death certificate, death notice publications etc. It will be issued to his next of kin, presumably his wife, else somebody that has an affidavit to that effect. The Lawyer will make sure it is specific to the bank in question if you give him/her the account number. Probably also the balance.

With this, approach the bank to open an Estate account with his wife as the administrator. (it is better you get details of the account officer from any branch and once you have this, it is easier to have direct communication with this person). She might have to visit only once to sign/verify documents. Note: some banks require references (other account holders to open such) and she must have her own BVN.

The way the Estate account works is the main account will be closed and net proceeds transferred into this Estate account which the Wife csn now make withdrawals from etc. Any dividend mandates etc will alo point to this new account.

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:42pm On Jul 03, 2019

AngelicBeing:
lnvolve a lawyer to assist you with the process

No lawyer needed.
An insider can help him more than a lawyer.

This would have been easy had the guy made the wife next of kin. Just present marriage and birth certificates. Shikena.

But if the guy go and eventually get the money without the consent of the wife, the wife if she knows her right will sue the bank and they will end up paying a lot.

2 Likes

Re: How Do You Recover Money From A Dead Relative Bank Account? by jabolo(m): 5:42pm On Jul 03, 2019

GTFO:

but how would you know the balance ?

i mean will the banker(s)/bank manager(s) not tell a lie about the actual balance in the said account for their own selfish interest??

If the court is asking in the process of applying for the Letter of administration, they can't do that.

Re: How Do You Recover Money From A Dead Relative Bank Account? by konny1(m): 5:43pm On Jul 03, 2019

nlanded:
First go to a probate registry in any high court, request for a letter of inquiry to mandate the bank to give the deceased account balance. This can be given to one or more family members of the deceased on presentation of relevant documents.

After getting the account balance, the probate registry would issue you a letter of administration.

You bring that letter to the bank and proceed to open an estate account linked to the deceased, you or any other family member would be signatories of the account. All you need to open such an account is 5k for a probate registry search.

The funds from the deceased account would be transferred to the estate account and you/family can do whatever you want with the funds.

The bank where I work you can get all the funds within 2 weeks at most.

PS: Funny how people are talking about next of kin and all, it doesnt matter here when it comes to this, the bank doesnt give a damn who you wrote on your account details as your next of kin, all they respect is the letter of administration brought from a probate registry by any family member. Next of kin on paper is just for formalities.

Nice info

Re: How Do You Recover Money From A Dead Relative Bank Account? by ibietela2(m): 5:44pm On Jul 03, 2019

GTFO:

kilode, how much is now even inside the account bayi

I spent 62k+ for court processes, getting Letter of administration and death certificate at the end i still didn't get the money.

This was 2015/2016 o

cry

Re: How Do You Recover Money From A Dead Relative Bank Account? by akingbatope: 5:44pm On Jul 03, 2019

vincent10:
Get an LA(Letter of Administration), take it to the bank and open an estate account

letter of administration

Re: How Do You Recover Money From A Dead Relative Bank Account? by IneedSugarMumy1(m): 5:44pm On Jul 03, 2019

His wife should know he's ATM pin

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:44pm On Jul 03, 2019

ChiefSweetus:
Condolences on your brother's passing, sir.

I remember your moniker from way back. God comfort the entire family.

I only commented cos I remembered his moniker and he is cool headed.

He is doing the right thing.

Re: How Do You Recover Money From A Dead Relative Bank Account? by AngelicBeing: 5:46pm On Jul 03, 2019

sassysure:

No lawyer needed.
An insider can help him more than a lawyer.

This would have been easy had the guy made the wife next of kin. Just present marriage and birth certificates. Shikena.

But if the guy go and eventually get the money without the consent of the wife, the wife if she knows her right will sue the bank and they will end up paying a lot.

Re: How Do You Recover Money From A Dead Relative Bank Account? by Insightz(m): 5:46pm On Jul 03, 2019

You need to determine the following:

1. Who is his next of kin. Presumably, his wife or any of his children

2. His bank where the money is lodged.

3. Determine the amount in the bank. Each bank has different policies on this. Some banks require a letter of administration if the money is more than 50k, or 250k. While other banks, require a affidavit of next of kin

What you should do

1. Next of kin must swear an affidavit of next of kin at High Court

2. Aproach a lawyer. Some lawyers can give you the affidavit

3. You need two administrators. The next of kin and one other family member. Then a third person will sign the letter of renunciation.

4. The two administrators must open a joint account, preferably in the bank where the money is lodged

5. You need two sureties to sign the surety Bond. Could be anyone

6. All adminstors and sureties must submit a passport photo

What the lawyer would do

1.The lawyer will write the bank through the court demanding the bank balance

2. The lawyer will submit all documents listed above signed and dated

3. The court will treat the file and if all is well, will ask the baknk to pay to the court

4. The court will take a percentage and remit the rest to the joint account

5. You pay the lawyer his percentage as well

Was the person a civil servant? Then the procedure is slightly different, but almost all documentation is similar.

Good luck

BTW: make sure if the anount is substantial to talk to the lawyer about how to reduce the surcharges

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by onyxo76(m): 5:47pm On Jul 03, 2019

GTFO:

but how would you know the balance ?

i mean will the banker(s)/bank manager(s) not tell a lie about the actual balance in the said account for their own selfish interest??

your lawyer will get a court order to that effect

Re: How Do You Recover Money From A Dead Relative Bank Account? by xynerise: 5:47pm On Jul 03, 2019

starbuck:
NEVER should you let the bank know that your brother is dead else the money go follow your brother too to the spirit world...

If he has an ATM, try as much as you can to find out the pin and make your withdrawals...

Thank God my mom told me hers on her death bed because she too sabi bankers.. Ndị ohi and ndị uchu

Exactly...I was shocked his wife doesn't know his pin

2 Likes

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:47pm On Jul 03, 2019

AngelicBeing:
Well said,Lol at Roger the person, chai, everything in Nigeria if it doesn't have Roger embedded in it, it will not fly

That's naija for you o.
It works like magic cheesy

I use that a lot grin

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by richard870(m): 5:47pm On Jul 03, 2019

xynerise:
Please guy, before I start chasing shadows trying to recover the money in my late brother's bank account, I would like to know the steps to take. Until his death, he lived in the northern part of Nigeria where the bank is also located.

1. Do I have to travel to his bank location to make necessary procedures or I can do that elsewhere where the bank has a branch?

2. What are the procedures?

Thank you for your assistance

Are you his next of kin?

Re: How Do You Recover Money From A Dead Relative Bank Account? by Nobody: 5:48pm On Jul 03, 2019

starbuck:
NEVER should you let the bank know that your brother is dead else the money go follow your brother too to the spirit world...

If he has an ATM, try as much as you can to find out the pin and make your withdrawals...

Thank God my mom told me hers on her death bed because she too sabi bankers.. Ndị ohi and ndị uchu

Your mum is a smarty� and you're the smartest� not forgotten the pin as she give up to ghost. But, your igbo strong oo undecided

1 Like

Re: How Do You Recover Money From A Dead Relative Bank Account? by reubenobi(m): 5:48pm On Jul 03, 2019

starbuck:
NEVER should you let the bank know that your brother is dead else the money go follow your brother too to the spirit world...

If he has an ATM, try as much as you can to find out the pin and make your withdrawals...

Thank God my mom told me hers on her death bed because she too sabi bankers.. Ndị ohi and ndị uchu

Sorry about your lost.

1 Like

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Nigerian Couple Reunited After 10 Years And Died 24hours Later In Horrible / Guys, Can You Get Married To A Lady From A Broken Home?(separated Or Divorced). / Valentine: IgbereTV Boss, Anyalekwa Gifts Wife Benz C-Class Kompressor (Photos)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.