Banks account questions.
#1

If Single account that owner RIP. Still can use as I deposit the money to it.

next how about joint account, if one RIP. I can still use this account?
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#2

Personal account will be suspended immediately once you reported death certificate. Join account will not be affected
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#3

(13-08-2024, 05:24 PM)[[ForeverAlone]] Wrote:  If Single account that owner RIP. Still can use as I deposit the money to it.

next how about joint account, if one RIP. I can still use this account?



why u want to deposit money into the dead man account for???
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#4

(13-08-2024, 05:52 PM)Desmondo Wrote:  Personal account will be suspended immediately once you reported death certificate. Join account will not be affected

So Joint Account if one RIP, another one still can use it right?

Only Personal account will be suspended than. Than the money inside ??? I heard need what Will blah blah to claim ??? Lets say is parents single account their one.
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#5

(13-08-2024, 06:00 PM)victortan Wrote:  why u want to deposit money into the dead man account for???

got one SGTALKER kor kor claim cannot use liao if the person RIP.
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#6

(13-08-2024, 06:02 PM)[[ForeverAlone]] Wrote:  So Joint Account if one RIP, another one still can use it right?

Only Personal account will be suspended than. Than the money inside ??? I heard need what Will blah blah to claim ??? Lets say is parents single account their one.

Single account will be frozen until the beneficiaries are established

For joint account, better move the money fast to your account if you are the other account holder

If you try to deposit into a dead person's single account, that's highly suspecious
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#7

(13-08-2024, 06:02 PM)[[ForeverAlone]] Wrote:  So Joint Account if one RIP, another one still can use it right?

Only Personal account will be suspended than. Than the money inside ??? I heard need what Will blah blah to claim ??? Lets say is parents single account their one.

Joint account got 2 types. One is just joint account where all account members must sign than the bank will release the money.  The other one is called joint alternate account where just one account member sign can tqke out the money. So if you are preparing to inherit yoyr mother's money, then open a joint alternate account with her  The risk if joint alternate account is the money can be stolen if one member is not honest and go draw out all the money wirhout the knowkedge if the other member.       Rolleyes

 Thinking is difficult, that's why most people judge
                    Carl Jung
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#8

(13-08-2024, 06:14 PM)Huliwang Wrote:  Joint account got 2 types. One is just joint account where all account members must sign than the bank will release the money.  The other one is called joint alternate account where just one account member sign can tqke out the money. So if you are preparing to inherit yoyr mother's money, then open a joint alternate account with her  The risk if joint alternate account is the money can be stolen if one member is not honest and go draw out all the money wirhout the knowkedge if the other member.       Rolleyes

But got one kor kor here claim joint account still can use if one RIP.
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#9

(13-08-2024, 06:11 PM)WhatDoYouThink! Wrote:  Single account will be frozen until the beneficiaries are established

For joint account, better move the money fast to your account if you are the other account holder

If you try to deposit into a dead person's single account, that's highly suspecious

That account is use to pay bill I cannot continue use it to pay bill ? By deposit money inside
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#10

(13-08-2024, 06:22 PM)[[ForeverAlone]] Wrote:  That account is use to pay bill I cannot continue use it to pay bill ? By deposit money inside

That I duno. Anyway it'll be frozen dun think you can deposit

Better change to use a joint account for bill payment
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#11

(13-08-2024, 06:20 PM)[[ForeverAlone]] Wrote:  But got one kor kor here claim joint account still can use if one RIP.

That kor kor is not wrong except that he did not tell you specifically that there are 2 types of     joint accounts. You dun have to believe me. Rolleyes

 Thinking is difficult, that's why most people judge
                    Carl Jung
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#12

(13-08-2024, 06:26 PM)WhatDoYouThink! Wrote:  That I duno. Anyway it'll be frozen dun think you can deposit

Better change to use a joint account for bill payment

Currently is this single account pay bill via giro

If go DBS side pay bill once pay is automatic monthly pay Liao?

Last time need to take giro form PUB application
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#13

(13-08-2024, 06:22 PM)[[ForeverAlone]] Wrote:  That account is use to pay bill I cannot continue use it to pay bill ? By deposit money inside

I know POSB and DBS cannot because they know the account holder is dead once the dead certificate is reported to the police. As for other banks like foreign ones, i not sure.    Rolleyes

 Thinking is difficult, that's why most people judge
                    Carl Jung
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#14

(13-08-2024, 05:52 PM)Desmondo Wrote:  Personal account will be suspended immediately once you reported death certificate. Join account will not be affected
Joint account depends whether is a and account or and &/or account
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#15

(13-08-2024, 06:36 PM)Cmpunk Wrote:  Joint account depends whether is a and account or and &/or account

If with parents leh?
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#16

(13-08-2024, 06:37 PM)[[ForeverAlone]] Wrote:  If with parents leh?

If and account they need two to sign if &/or immediately withdraw everything once one of them is dead
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#17

(13-08-2024, 06:40 PM)Cmpunk Wrote:  If and account they need two to sign if &/or immediately withdraw everything once one of them is dead

I mean want to use is my name with my mum .
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#18

(13-08-2024, 06:51 PM)[[ForeverAlone]] Wrote:  I mean want to use is my name with my mum .

Knnah, the bank dun care you and your mother or grandfather name lah. All they look is whether the account is joint account or joint alternate account.
If you still dun understand, go Google what is the difference between joint account and joint alternate account. Bongkang.    Angry

 Thinking is difficult, that's why most people judge
                    Carl Jung
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#19

Better switch to joint account now then no more worry.

Explain to yr parents the problems with single accounts in a nice way
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#20

(13-08-2024, 06:20 PM)[[ForeverAlone]] Wrote:  But got one kor kor here claim joint account still can use if one RIP.
          
One RIP, the account should become a single account for the surviving holder. 

I think it this way.

.
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