What to do when someone with a Moneybox account dies
Dealing with financial matters can feel difficult and overwhelming when someone passes away, so at Moneybox we want to support you as best we can by making the process of closing an account as easy as possible. You can find an overview of what to expect below.
Letting us know
If someone you know has recently passed away and holds a Moneybox account, the best way to inform us is to complete our Bereavement Form. This will allow you to provide all the relevant information required to proceed with closing an account. Once received, a member of our specialist team will be in touch to support you through the next steps.
You can also email us directly at bereavements@moneyboxapp.com.
In addition, you may need to refer to the Tell Us Once service, which enables you to tell multiple government organisations at once about a death. You can access the Tell Us Once service here.
What happens next?
Once we’ve heard from the beneficiary, we will freeze the Moneybox account to prevent any further payments and withdrawals and provide a valuation of the account.
It’s worth noting that, for investment accounts, the customer’s funds will still be subject to market fluctuations and account fees until their investments have been sold down. We will aim to provide you with an estimated timeframe of when you should receive the funds when requesting a sale on your behalf.
Next, if we were notified without the Bereavement Form being provided, we’ll ask for the completed form to be returned to us alongside some supporting documents.
What documents will we need?
- Certified death certificate.
- Photo of the personal representative’s valid ID. We can accept a photo of a Passport, Driving Licence or National Identity card. Please note that we can’t accept expired IDs. Please ensure all four corners are visible and the information is clear. If providing a Driving Licence or ID card, please show the front and back of the document. If providing a passport, please ensure both pages are visible.
- A recent PDF bank statement for the nominated bank account you’d like the funds to be sent to. This should be dated within the last three months.
- Copy of any will or grant of representation (probate/letters of administration) if applicable.
Pension accounts
Things may look a little different for someone who held a Pension with us. Due to the nature of the Personal Pension product, we may require additional information and documentation regarding nominated beneficiaries.
Additional Permitted Subscriptions (APS)
Currently we’re unable to facilitate APS transfers into Moneybox products. If you’d like to transfer your spouse or civil partner’s ISA funds to your own ISA, we can facilitate this to an ISA managed by a different provider.
If you’d like to know more about APS at Moneybox, please reach out to us via email or in-app.
Sending us documents
We recommend emailing your documents to bereavements@moneyboxapp.com, as this allows us to confirm receipt more quickly and begin reviewing your case sooner.If you prefer, you can also send documents by post:
Postal address: Customer Operations Moneybox 1–2 Hatfields London SE1 9PG
Please note that sending documents by post may result in a longer processing time, as delivery and handling by external postal services are outside of our control. Email is the fastest way for us to receive and acknowledge your documents.
If you have any questions or would like an update on your case, please email us at bereavements@moneyboxapp.com and we’ll be happy to help.