What do I do if an NS&I customer has died?
The death of a loved one is always a difficult time for family and friends. At NS&I, we understand that when dealing with grief, the last thing that you want to think about is looking after their finances. However, we are here to help and support you through those difficult steps and decisions.
Due to the coronavirus outbreak, we have smaller teams at the moment. We are processing postal forms as soon as we can, but it is taking longer than normal. Please bear with us.
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Here are some answers to questions you may have:
An Executor is the person responsible for dealing with the paperwork and carrying out the wishes specified in the Will.
An Administrator is the person appointed to deal with a person’s estate if there is no Will.
A Beneficiary is a person entitled to money, property or other assets of the person who has died.
Yes, all NS&I accounts keep on earning interest until they are closed.
The customer who has died has won a Premium Bond prize after their death and been sent a prize warrant– what should I do?
Please send the prize warrant back to us and we’ll reissue it to the person entitled to the money, once we’ve completed the claim. We’ll also hold on to any other prizes the customer wins until we have completed the claim. Then we’ll send any future prizes won by warrant (like a cheque) after each prize draw to the person entitled to the money.
If customer's Premium Bonds remain in the draw, which they can for up to 12 months, rather than are repaid, who will receive any prizes won?
Once we’ve been told of the customer's death, any prizes won will be paid by warrant (like a cheque) to the person entitled to the money after we’ve completed the claim. We’ll hold on to any prizes the customer wins before then and send them once the claim is completed. Then we’ll send any future prizes won by warrant after each prize draw to the person entitled to the money.
We can’t pay these prizes electronically or consolidate them and pay them at the end of the 12 months.
Yes, please send the documents with a covering letter asking us to return them by recorded delivery and we will do this. If you send us original documents, we recommend you use a secure service.
You can send us the originals, but photocopies are also fine.
These are different terms for the documents issued to give someone the legal right to deal with the savings, property and other assets of a person who has died. When a person dies, you need to apply for the legal right to deal with their money.
Here are some other sources of information and advice you might find helpful:
HM Revenue & Customs
0300 123 1072
The Probate and Inheritance Tax Helpline is open Monday to Friday, 9am to 5pm.