Closing a deceased members account
oafcmarky
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Posted on
Jul-03-2017
10:54 AM
Hi can somebody advise how to close a family members account that has passed away, i spoke to someone earlier but was rather unhelpfull !!!!!
2 REPLIES 2
kernowlass
Esteemed Advisor
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Jul-03-2017
11:17 AM
Only the account owner can close their account, unless the owner is deceased.
To close the account of a person who is deceased, please collect the documents below and fax them to us:
• A copy of the death certificate for the account holder.
• A copy of a government issued photo ID (such as a driver’s license, passport or state-issued ID) of the executor of the estate.
• Legal documentation or a copy of the will that identifies the executor of the estate.
Note: If this PayPal account has a balance, we will also require a letter that specifies what to do with the money that remains in the account.
Please fax the documents and our Compliance department will review for account closure.
Once all necessary documentation has been received and reviewed, the account will be closed within 1-2 business days.
We can disburse any money that remains in the account in one of the following ways:
- the balance in the deceased customer’s PayPal account may be transferred to the bank account on the customer’s PayPal account. An executor will have access to the deceased customer’s bank account.
Advice is voluntary.
Kudos / Solution appreciated.
oafcmarky
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Jul-03-2017
11:49 AM
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