Archives: FAQ - Savings

If the combined savings balances held with Ecology are above £15,000, we will also need either:

• The original grant of probate, or solicitor certified copy;

or

• The original letters of administration, or a solicitor certified copy

If the combined balances are below £15,000, then you need to follow the standard process for closing an account. We will provide you with a statutory declaration to sign.

 

Joint Accounts

If the account is in joint names with you, you can still use the account but need to send us a copy of the original or certified death certificate.

Once we have the death certificate we will update our records and remove the deceased’s name from the account.

Once the account is in your name only, you can close it if you want to.

 

We understand that there is a lot to do and you may not feel like tackling everything straight away, but the sooner you let us know the better. We will then freeze the account, meaning it will still earn interest but payments in or withdrawals out cannot be made. We will then wait for you to get the formal documentation to us once you are ready.

To register the death of the account holder we will need to receive:

• The original death certificate or original coroner’s interim certificate
• Full contact details for the informant / executor
• Two pieces of identification for the informant / executor from the Savings ID Requirements document.

If you prefer, you can supply solicitor certified copies of any of the above documents.

If the personal representative of the deceased’s estate doesn’t want to send their identification documents to us, or they do not have two forms of identification, they will need to give us permission to run an electronic identity search. They can give us permission using this form. Fill it out and send it back to us at either [email protected] or [email protected].

You can either call or email us with the details of the personal representative, executor, administrator or solicitor who is dealing with the death. We will need to know their name, address, and contact details and in what capacity they are dealing with the deceased’s estate. If they are a solicitor, we will need to know the company they work for, their job title, address and contact details.

If you call either our savings or mortgage member services teams, they will help you. The contact details are:

Phone: 01535 650 770

Email: [email protected] or [email protected]

The first thing you need to do is register the death at a registration office. There are registration offices in towns and cities across the UK. Deaths need to be registered within eight days.

You will be given a death certificate by the registration office. It may be worth getting a few certified copies of the certificate, as various institutions will need one as you sort out the deceased’s affairs.

There is a maximum withdrawal limit of £25,000 online. If you need more than this, you can call us.

There may be restrictions depending on the type of account you have, see below:

On Sale Accounts

Easy Access Savings Account

No withdrawal notice.
Minimum withdrawal amount is £10.

Ecology Cash ISA

No withdrawal notice.
To retain the tax free status of your savings, make sure any transfers to a new provider are done through the ISA Transfer Process.

Regular Savings Account

No withdrawal notice.
Two withdrawals per calendar year. Your account can be closed if you need access to your money but have used your 2 withdrawals.
Minimum withdrawal amount is £10.

35 Day Notice

Withdrawal notice: 35 days notice starting on the date we receive your withdrawal request. (We will send a letter or online message confirming the end date of your notice period).

Minimum withdrawal amount is £250.

Off Sale Accounts

Notice Accounts

Withdrawal notice: For Notice Accounts, the number of days’ notice will be the number in your account title (We will send a letter or online message confirming the end date of your notice period).
Minimum withdrawal amount is £250.

ECO60

Withdrawal notice: This account no longer requires notice.
Please refer to your product T&Cs for more information or email [email protected]