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my grandmother passed away and left my son her (account) money I need to know if its legal to charge a minor to close an account if so what is the percentage they might charge?
July 14, 2015 04:11:07 PM
In reply to krista, rutland
We're sorry to hear about your loss Krista. We'll be able to point you in the right direction to answer your questions.
There is currently no fee assessed to close an account. However; based on the information provided in your question, we recommend taking a look at the information below in regards to access to the account after the sole signer has passed away.
In the unfortunate event of a Customer’s death, it is important for TD Bank to assist the family and/or the Executor/Administrator with our Customer’s account(s). An Executor or an Administrator of a decedent’s estate may access the account. An agent designated by the Executor or Administrator may access information regarding the account or may close the account with written authorization from the Executor or Administrator; however, the agent may not be named as a signer on the account. In order to access the account or close the account of the deceased customer, the Executor or Administrator must provide the following documentations to a TD bank Store:
Photo identification, Copy of the Death Certificate, and an original Certificate of Letters Testamentary or Letters of Administration with a raised seal dated within 60 days; and a Letter of Instructions signed by all the Executors or Administrators with signature guaranteed by another financial institution. A signed Letter of Instruction requesting that the account be closed (with signature guaranteed by another financial institution if the instruction is by mail). The death certificate will provide date of death if the date-of-death balance for the account is requested.
Please keep in mind; these documents do vary by State. With little details provided, there may be more information that we could be missing. Therefore, we recommend you visit a TD Bank Store or give us a call directly 24/7 at 888-751-9000 to speak with a Banking Specialist for further information. For locations and hours, please visit, http://bit.ly/TDStores.
We hope this information is helpful!
Customer Service Team, Mount Laurel
July 14, 2015 04:23:35 PM