What happens to a bank account in case of death?

As soon as the bank becomes aware of the death, it shall blockage of the different accounts opened (current account, booklet account or savings account) in which the deceased was sole proprietor. These accounts may include:

• Current account
• Overnight account
• Securities account
• Booklet A
• Sustainable and inclusive development booklet (LDDS)
• Popular savings booklet (SMP)
• Young booklet
• Industrial Development Account (Codevi)
• Housing savings plan (PEL).

The bank no longer registers any deposit or withdrawal operations there.

Despite the accounts being blocked, these operations can still take place:

• Transfer transactions from third parties (e.g. retirement pension where the paying agency has not yet been informed of the death)
• Direct debit transactions corresponding to the various expenses incurred (by credit card, check or transfer, etc.) by the account holder front her death. Such withdrawals shall be made within the limits of the funds available in the accounts on the day of death.

Accounts may be unblocked for the settlement of expenditure incurred after death.

They may be settled within the limits of the funds available in the accounts on the day of death and up to €5,000. These are:

• Funeral expenses
• Costs of care for the deceased at the time of his last illness
• Taxes payable by the deceased

The balance (positive or negative) of the account shall be settled at the same time as the succession.

The account is closed after the settlement of the estate.

If the account balance is less than €5,000 and that the estate does not include any real estate, an heir can close the account alone. Otherwise, a act of notoriety must be established by a notary and sent to the bank to close the account.

The account agreement predicts what happens to the bank account.

In principle, the following 2 provisions are provided for:

• The account remains open except opposition by the heirs of the deceased joint proprietor
• The account continues to be the account of the surviving joint holders (or automatically becomes an individual bank account, if there is only one surviving joint holder).

In the case of a positive balance on the day of death, the share belonging to the deceased shall be determined at the time of settlement of the estate.

In the case of a negative balance, the bank may ask the surviving holder(s) to pay the full amount of the corresponding sums.

As soon as the bank is informed of the death of a co-owner (by relatives or by a notary), it automatically blocks the undivided account.

It shall no longer record any deposit or withdrawal operations.

The balance (positive or negative) of the undivided account is settled at the same time as the whole of the succession.

As soon as the bank becomes aware of the death (by relatives or by a notary), it blocks the securities holdings of the deceased.

In principle, the bank can no longer buy or sell securities. It will only be able to do so if all the heirs agree.

As soon as the bank becomes aware of the death (by relatives or by a notary), it blocks access to the safe rented by the deceased. The powers of attorney which had been granted on the trunk shall expire at the time of death.

If the vault is linked to a joint accountNo, it's not blocked. However, it is recommended to request the blocking and to have an inventory carried out in the presence of the heirs and the co-owner of the trunk to safeguard the interests of each.