Skip to content

How Many Checks if 3 Beneficiaries on Account?

Answered by: 

Question: 
If a person has an account with 3 beneficiaries, if the owner dies do all the beneficiaries need to come in together? Does the account get closed and 3 checks issued or 1 check?
Answer: 

If there are any "rules" for this answer, they are purely a function of state law. If state law is silent on the question, your bank should have a procedure to address such eventualities.

First published on 05/26/2014

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics