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  Home >> Special Situations >> Deceased Individuals  
Where to Deposit Inheritance?

My wife just recently got her inheritance from life insurance of her late father. Its a BOA check for $50,000. We don't have an account at BOA, but we are willing to open one there so that we can just deposit the check. The problem is that my wife is on ChexSystems for a sum of money she owed WAMU. Would BOA let her open a savings account if she made a sworn statement that we would pay WAMU as soon the check clears?

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In that Bank of America owns WAMU, they may collect it for you. Deposit the check and pay the amount owed regardless of where you make a deposit.

Published on BankingQuestions.com 12/01/10