I would like to gather information of our members that deal with procedure of handling withdrawing $ from bank as a executor .
I have been authorized to become a executor to execute rights(high court order granted) to withdrawal bank saving of my sister, but bank side keep telling me this procedure take long time and make me very confuse.
I need to clarified the procedure of withdrawing money back from bank if someone pass away.
I believe we put our money into bank, and we are able to withdraw our money back with proper documents submitted.
Hope someone could assist me on above matter, a big thanks in advance!

have you submitted the letter of probate showing you are the executor of the deceased will? what sort of procedure is the bank talking about? best ask them to explain in detail

This post has been edited by CRaider2: Jul 15 2020, 02:39 PM

I have been authorized to become a executor to execute rights(high court order granted)
Pls read clearly any reply. tq.

Court already granted you. Get the court order letter, then go to the bank with the letter. The bank will release the money bank.

The letter will have info of the decease name, ic no, account no and the recipient is who/s and percentage if more then 1 recipient.

This is what I encounter at pejabat pusaka kecil

On side note high court handling your case... wow just wow.
Just to let you know you have just make a new friend.

bro, i believe u r an old member too. i just wanna get some advise after 10+ years reading/supporting this forum.

If you already gotten GP, go to bank, they will release money.

Btw, do you have the accounts written down on the iventory list attached together with GP? If you dont have, bankd likely wont release fund until u reamend the inventroy (ie go court again).

This is real life experience. I was having difficulties to obtain account numbers. Some banks even want FD cert number to be on the inventory which is crazy. This is hard to obtain when someone passed away. No one record down the list of FD certs thry have. So what i had to do is to search for physical fd cert and include in inventory. When banks told me some are missing,i had to reamend the inventory.

Ya that's crazy, considering that the banks already have the depositor's IC number and all accounts related to the IC. As they say banks are bloodsuckers and try to keep the money as long as they possibly can.

thank you for your input. hope i can walk free with this kind of trouble

This post has been edited by pizza112: Jul 15 2020, 04:30 PM

The banks are just protecting themselves. In case anything happen, they could be sued for releasing funds wrongly without a correct court document (GP or LA).

But i do get frustrated with some banks. First, they are unwilling to disclose account no if we dont have a GP/LA. After we get GP/LA only they willing to inform the accounts no which are to be included in the inventory. So we need to resubmit to court for amendment.

Also, some banks suck to the max because they said we have to go individual branch to get the account info. Some banks are good to search all accounts for us, but some are just sucks (maybank especially)

All banks have centralised CRM system which can show what accounts a particular NRIC has with that bank...so to say you need to go to the individual branches is rubbish as it only shows what I claimed earlier, i.e. they want to hold on to your monies as long as they can even though the GP/LA is out for a particular deceased individual.

Exactly. I work in a bank i know how the system works.
So basically they are just unwilling to cooperate and divulge info on behalf of another branch. Having said so, when come to recovery of money, still need to go back to individual branches.

I vaguely remember some bank which is strict would want to do maybe a few things before releasing the account. something along the line of

- extract of Death Certificate from National Registration Department of Malaysia (JPN)
- confirm that the court granted XYZ as administrator or executor.

This is to prevent fraud that the public will just walk in with a fake death cert and grant of probate / letter of administrator and walk away a person money in the account.

Or is it EPF that do this...?

So in a way it is a good thing that it take some time to verify and go through the process.
After all one had waited some time for probate / LA (this should be at least months if not years in Malaysia), just wait a little bit more....

first week after funeral, the family should have the Death Cert, Marriage Cert, Beneficial IC, Beneficial Bank Account ready.
Go and claim EPF, SOCSO and Insurance because those dont need Probate/LA if got nominate. Then, close Income Tax account.

During first month, try to search for document (mail/filling) all the bank info, property and assets that should be put under the listing later. If there is any credit card statement, loan or billing, please clear all those outstanding and close those account to stop further direct debit. Any outstanding will cause the Probate withhold at the court until those debts are clear.

Another way is via ATM/Credit card that the deceased person is having. Eg. If got Hong Leong Bank ATM, go to Branch ABC to check the account number/branch. If cannot get, try Branch XYZ. Try till one willing to help. Talk nice nice with them.

If know the account ID & password, login to retrieve those info.

Finally prepare go to Court for Probate/LA. Those incomplete listing, then do again for second round. At least, take out as much as possible before those become unclaimed monies.

Once the Probate done, bring Death Cert, Deceased IC, Marriage Cert, Beneficial IC, Beneficial Bank Account and Probate to the individual branch. Remember to bring Original and Photocopy The bank will deduct some fee and balance will transfer to Beneficial Bank Account.

The above process take around 3-4 months for getting back the Deceased money, exclude the second (missing out) listing.

Do not close all the bank account, keep at least one under Deceased person name because maybe got some money need to deposit. Eg. Mobile service deposit, TNB deposit and so on.

on this, from my experience few years ago,....
CITY bank does NOT entertain my story and news about my brother's death,...i told them he has CITI CC and saving a/c, please stop all SI or direct debit (if any)....
the front desk dose NOT even allow me to talk to their mgr.

so i end up with Amanah Raya,...pass those info to them,...i got every from CITI thru AMANAH about 10 months later.

Were you the executor or with Grant of Probate letter? Otherwise, why should bank take instruction from you?

Wah... didn’t know banks so sux.. looks like any will should be accompanied by detailed inventory list

yes, that is what i am trying to tell....don't waste time going to the bank or any financial institution to do anything regarding the deceased account,...just goto amanah raya (for example) to settle if don't have a will

True, but perhaps the Citibank staff might have handled it better and been a touch more tactful a death in the family is traumatic enough without needing an uncaring disinterested bank officer giving you the “do I look like I give a fucuk” attitude hehehe.

When mati pun banyak susah.

How to avoid all.these problems?

Orang yg mati pun tak boleh mati tenang

Sorry to heard your side of story.

Luckily what i know, my friends all went well. Becoz they just need info to compile the inventory list. Not asking the bank to transfer out the money yet at that moment.

Have Will type.

No Will, as you say, better direct go Amanah.

Long Long time ago, go for a talk/seminar, one lawyer got mention, if no Will, the executor need to find 2 person become guarantor with the same amount as per inventory list pledge. If deceased person have 1M worth of asset, that mean each guarantor need to have 1M worth of asset pledge. So, it is not easy to find someone willing to do so. How the things really work, I forgot already.....




This post has been edited by bourse: Jul 16 2020, 10:07 PM