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If a customer passed away, and we need to issue a cashier’s check to the executor of the customer’s estate or the beneficiary of the customer’s payable on death (POD) account, who should our bank list as the remitter on the check? – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

If a customer passed away, and we need to issue a cashier’s check to the executor of the customer’s estate or the beneficiary of the customer’s payable on death (POD) account, who should our bank list as the remitter on the check?

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While there is more than one way to clear out an account following the death of a customer, if you use a cashier’s check, we believe the best approach is to list the remitter as follows: Account #12345 of John Doe, deceased.