What happens when we are notified about the death of a customer?

So that you know what to expect, we've summarised what happens for each type of product or service held with us below.

If the person who passed away had investments with M&S Bank, these will be dealt with separately and the relevant teams will contact you to confirm the next steps.

Any sole accounts the deceased had are automatically frozen. This means:

  • no money can be taken out of the accounts (except for recurring subscriptions which the Executor will need to cancel)
  • we will continue to allow all credits into the accounts
  • by law, we must cancel any Direct Debits or standing orders on receipt of the death certificate – including utility bills, mortgage or loan payments

Alternative arrangements may need to be made to continue to pay any outgoings. We'll provide the personal representative with a full list of information to assist with this task. The only exception to this is home insurance, which we may continue to pay if the personal representative asks us to and credit funds are available.

Current accounts

Sole current accounts

When we have formal confirmation of your loss we will freeze the account(s). Once we have received the necessary paperwork and completed any identity verification checks, we can release any credit funds held within the M&S current account. Any debit balances held within the M&S current account will normally be repaid from the estate.

We will not authorise any withdrawals once we have been notified of your loss.

Joint current accounts

When we have formal confirmation of your loss, we will automatically transfer the account(s) into the sole name of the surviving person and, where appropriate, arrange for a new cheque book(s)/paying-in book(s) to be ordered in the single name. The account number won’t need to be changed.

We can delay this transfer to reduce any distress if you prefer, please advise the relevant team if this is your wish.

Direct Debits and standing orders will continue as normal. Please let us know of any that need to be stopped.

You will need to cancel any regular subscriptions being paid from any M&S account(s), ie Sky. We are unable to cancel subscriptions on your behalf therefore they will continue to be charged to the account until you cancel them.

Any debit balance held on an M&S card will normally be paid from the estate.

Budgetcard

Sole Budgetcard

When we receive notification of your loss we will cancel all cards held on the account and suppress charges.

Joint Budgetcard

When we have formal confirmation of your loss, we will automatically transfer the account into the sole name of the surviving person. The account number won't need to be changed. We can delay this transfer to reduce any distress if you prefer, please let us know if this is your wish.

Any debit balance held on an M&S card will normally be paid from the estate.

Credit cards

Whilst our general policy is to cancel all credit cards, including cards held by a second cardholder, when we receive notification of your loss, we will consider each case individually and provide help where necessary. We will also freeze interest.

If an additional cardholder wishes to apply for a credit card in their own name, we'll be happy to help guide them through the process.

Any debit balance held on an M&S card will normally be paid from the estate.

Chargecard

When we receive notification of your loss we will cancel all cards held on the account, this includes cards held by a second cardholder on the deceased's account. We will also freeze interest.

Any debit balance held on an M&S card will normally be paid from the estate.

Personal Reserve

When we receive notification of your loss we will freeze the account and cancel any unused cheques on the account. We will also freeze interest. We will not authorise any withdrawals once we have been notified of your loss.

Any debit balance held on a Personal Reserve will normally be paid from the estate.

Premium Club

When we have formal confirmation of your loss we will cancel any active Premium Club policy. If travel insurance was held as part of the policy anyone else covered on the policy will need to arrange a new M&S Travel Insurance policy or one with another provider.

We will consider each individual circumstance and provide help where necessary.

Personal loans

When we have formal confirmation of your loss we will freeze the loan and calculate a settlement figure from the date of death. If the person who passed away held M&S Payment Protection Insurance on the loan we will arrange for a claim to be submitted. If the deceased held M&S Payment Protection Insurance in their name, we will arrange for a claim to be submitted.

Any debit balance held on a loan account will normally be paid from the estate.

Loyalty points

Any accrued loyalty points up to the date of death can be transferred, upon request, to another M&S account.

Any existing loyalty vouchers can still be redeemed before their expiry date.

Card safe

If Card Safe cover is held by the person who passed away, you will need to contact Card Safe directly to have this cancelled and you may need to send the death certificate to them. You can contact them on 0344 848 5284.

Insurance products

If the person who passed away had M&S Insurance products, we will make the necessary arrangements to contact our insurance partners to advise them of your loss on your behalf. You will then be contacted directly by our insurance partner(s), who will discuss the next steps with you. They will manage any closures, changes and refunds, where required. You may be asked to clarify insurance policy numbers and further details in some instances.

Home insurance

If a home insurance policy has been in place in joint names, there will be an option to transfer the policy to the sole policy holder, if you wish to do so.

Car insurance

If the deceased was a named driver on a car insurance policy, the deceased's name can simply be removed from the policy. Where the deceased was the main policy holder, the policy will be cancelled and the new owner of the vehicle will need to take out insurance in their own name. Any named driver on the deceased's policy will no longer be insured to drive the vehicle.

Pet insurance

Pet insurance policies can be transferred to the joint policy holder's name. Where it has been in a sole name the policy will be cancelled and no further payments will be collected.

Travel insurance

Travel insurance policies can be transferred to the joint policy holder's name. Where it has been in a sole name the policy will be cancelled and no further payments will be collected.

Savings and investment products

When we have formal confirmation of your loss we will confirm details of the savings and investments held in the account(s) (holdings) and your available options. Once we have received the necessary paperwork and completed any identity verification checks we will be able to close the account(s).

Unit trust non-ISA (joint holding)

We will transfer the joint unit trust holding(s) to the surviving account holder(s). If a third party requests a value of the holding(s) as at the date of death, we will require the surviving account holder(s) permission.

Unit trust non-ISA (options)

  • Transfer the units to a unit trust non-ISA in the name of one or more beneficiaries
  • Sell the units and reinvest the proceeds into an ISA using a personal ISA allowance
  • Sell the units and have the proceeds paid to the executor(s), beneficiary/beneficiaries or a solicitor

Unit trust stocks and shares ISA (options)

Transfer the units to a unit trust non-ISA in the name of one or more beneficiaries. Sell the units and reinvest the proceeds into an ISA using:

  • An Additional Permitted Subscription (APS) allowance
  • A personal ISA allowance (The ISA itself cannot be transferred to another person's name.)
  • Sell the units and have the proceeds paid to the executor(s), beneficiary/beneficiaries or a solicitor

Cash ISAs and Fixed Rate Savings

  • Close the account(s) and reinvest the proceeds into an ISA using:
    • An Additional Permitted Subscription (APS) allowance
    • A personal ISA allowance (The ISA itself cannot be transferred to another person’s name.)
  • Close the account(s) and have the proceeds paid to the executor(s), beneficiary/beneficiaries or a solicitor

Interest will accrue daily and be credited to the account annually.

If the Fixed Rate Savings option remains open on the maturity date, the funds will roll into another Fixed Rate Savings option for the same term. For a Fixed Rate Savings Cash ISA option, the funds will roll into a variable rate ISA. The early withdrawal charge will be waived when the Fixed Rate Savings option is closed.

Additional permitted subscription (APS)

From 6 April 2015 the surviving spouse/civil partner of an ISA account holder can claim an additional allowance, equal to the accumulated value of the ISA at the date of death. This is known as an 'Additional Permitted Subscription' (APS) and is only available to a spouse/civil partner of an ISA account holder who died on or after 3 December 2014. The APS allowance will not affect the spouse/civil partner's annual ISA allowance. The spouse/civil partner can transfer the APS allowance to another provider, but only once.

Before we can provide the spouse/civil partner with a calculation of the APS allowance, the death must be registered.

Monthly Saver & Everyday Savings Account

When we have formal confirmation of your loss we will freeze the account(s). Once we have received the necessary paperwork and completed any identity verification checks we can release the funds held within the M&S Bank savings product(s).

Interest will continue to accrue until the funds are released. No withdrawals will be permitted once we have been notified of your loss.

Interest payments

From 6 April 2016 interest will be paid gross on savings accounts; this means we will no longer automatically deduct 20% tax. As tax may still be owed, please contact HMRC for further information.

Visit us in branch

Find your nearest M&S Bank branch

Call us

0345 900 0900 or
+44 (0)1244 879080 from outside the UK

Notify us online

You can inform us of a bereavement online.
Notify us

Write to us

You can send your documents to us at:

M&S Bank
PO Box 3849
Chester
CH1 9FN

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