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 Standard procedure to get back your $ from Bank, bad experience to get back $(passaway)

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Kyan0411
post Jul 15 2020, 02:58 PM

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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.
Kyan0411
post Jul 15 2020, 05:29 PM

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QUOTE(yeeck @ Jul 15 2020, 03:41 PM)
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.
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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)

Kyan0411
post Jul 16 2020, 11:00 AM

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QUOTE(yeeck @ Jul 16 2020, 10:11 AM)
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.
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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.
Kyan0411
post Jul 16 2020, 09:39 PM

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QUOTE(jack2 @ Jul 16 2020, 09:17 PM)
When mati pun banyak susah.

How to avoid all.these problems?

Orang yg mati pun tak boleh mati tenang
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Keep a list of your accounts. Tell the one you trust the most.

At least when something happen, someone knows which bank to go to.
Imagine the need to dig thru the personal belonging of the deceased, sad and troublesome at same time. Moreover, nowadays no more physical statement, might struggle to find which banks.

Also, phone unlock pattern make sure someone knows, else phone/email also cannot access.

Kyan0411
post Jul 16 2020, 10:00 PM

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QUOTE(airtawarian @ Jul 16 2020, 09:44 PM)
So far no issue by bank. All You need is Just to show GP and they will release according to Senarai Aset in the list. Simple and Easy
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The first problem will be how to get Senarai Asset.
With GP, all banks will cooperate.
But to have the inventory list first, u need to go to banks but without GP they will have reservation to help u.

This post has been edited by Kyan0411: Jul 16 2020, 10:01 PM
Kyan0411
post Jul 16 2020, 10:46 PM

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QUOTE(aspartame @ Jul 16 2020, 10:28 PM)
What about accounts with the bank owned by deceased but not listed in the Senarai Aset???? I always thought once we show GP with deceased particulars, the banks will transfer all accounts held with that bank to executor or beneficiary ...
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Some banks are very strict on this. If not on inventory they wont release. Experience with Maybank. Had to amend inventory and go to court again.
Kyan0411
post Jul 16 2020, 10:47 PM

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QUOTE(airtawarian @ Jul 16 2020, 10:46 PM)
You are Wrong. GP need to attach with list and the list Just state Everything. I Just inform Lawyer He will get all particulars from each banks before claim

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Weird. My lawyer wants us to find out ourself. Of course he can do a search but that would be different $$, like % charge of total assets (similar to Amanahraya)

In the end, we search the banks on our own with the original copy of will.

This post has been edited by Kyan0411: Jul 16 2020, 10:50 PM
Kyan0411
post Jul 16 2020, 11:04 PM

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QUOTE(airtawarian @ Jul 16 2020, 10:54 PM)
Lawyer Definitely will charge extra but not much. You know Why? Because bank more Trust Lawyer firm than individual. Thats Why bank will release all bank details of the deceased. If not You need to get Another court order or amendment Which is costly and Wasting time run here there. A smart Lawyer will advise You first to save Your time and charges.

Remember If you do again, You need to bear Lawyer fees again, court punya fees, other charges like travelling to court. Sometimes ppl Never learn
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This is exactly the issue I had. If you as executor going to bank, banks might not layan. You need a lawyer to do all those for you despite the lawyer said the banks should divulge the info but some banks are just not comfortable.

Nonentheless, managed to get all those done.


 

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