About a year ago, my mother went into the bank with my sister and requested that my sisters and I be put as beneficiaries on her checking account in the event of her death. My mom passed away in April, and we just found out that the personal banker only put us on as authorized signers and now we cannot access the account. What recourse do we have? This is not what my mom requested.
You wouldn't have had to go into the bank to be listed as a POD (payable on death) beneficiary. If you were able now to prove that the bank was negligent in the way it carried out the instructions, you might have some standing, but what was done that day, we would assume was discussed and approved. If there is a disagreement, it would be difficult to prove now.
Look at the effects of the estate and the distribution of funds according to the prevailing laws and directives. If this makes a difference to you, you will have to proceed legally through the courts.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
You wouldn't have had to go into the bank to be listed as a 