How to Withdraw Money after the death of an accountholder Without a Nominee?

A nominee can withdraw the money from the account of a deceased member. But what if there’s no nominee? Find out how the withdrawal would work.

How to Withdraw Money after the death of an accountholder Without a Nominee

If you have ever opened a bank account, you would have found the field ‘Nominee’ in the application form. Have you ever wondered what it is and why it is needed?

Who is the nominee?

A nominee is an individual appointed by the account holder to receive the bank account balance payable on the death of the account holder. So, after the account holder’s death, the nominee can intimate the bank about the same, present the relevant documents (ID proof of the nominee and death certificate of the account holder), withdraw the funds and close the account.

(Watch now Key facts about a nominee)

However, if there is no nominee, withdrawal might become hassling. The process is:

  • With Joint account

If the bank account is held in joint names, the process is simple. The name of the deceased account holder is simply removed from the account. To do this, the surviving account holder submits a request to the bank, stating the demise of the other account holder. A death certificate is also required. The dead account person's name is then removed from the account, and the account is transferred to the surviving joint account holder. After that, money can be simply withdrawn by the account holder.

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  • With an Individual Account

For an individual account, the legal heirs of the deceased account holder would have to make a claim for withdrawing the money. So, a genuine succession certificate would be required to back up their claim.

A succession certificate is a court-issued document that establishes the identity of the claimant as to the legal heir of the deceased. The legal heir can inform the bank about the account holder’s death, and submit the relevant documents, such as:

  • Copy of the death certificate of the account holder
  • Succession certificate of the legal heir
  • ID proof of the claimant

The bank would verify the authenticity of the claim and, upon successful verification, the claimant would be allowed to withdraw money from the bank account.

If there is a Will left behind by the deceased, a succession certificate might not be required if the Will names the beneficiary who can withdraw the amount.

It is, thus, possible to withdraw the amount from the dead person’s bank account.

(Also read How to lodge a complaint against RBI-regulated entities)

So, if you are nominating, inform the nominee too, so that he/she can make a claim on your bank account when you are not around. 


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