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Deceased account holder - interest?


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Good evening all,

 

 

My Father held three accounts at Nationwide. After his recent death, I visited the local branch to notify them and to take a death certificate by way of notification.

 

 

I have to apply for probate, but in the months this may take, Nationwide quite appropriately freeze the accounts. When I asked what happened to the interest on the frozen accounts, the Nationwide person said they retain the interest; as the accounts are now frozen, they do not accrue interest any longer.

 

 

I have 2 questions for anyone able to help:

 

 

1. Is this correct?

2. Why is it correct (if so). Surely the interest gained whilst I go through the probate process should be added to the account, not be used to swell the Nationwide coffers.

 

 

Appreciate any advice.

 

 

Regards

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This has to be complete rubbish. It amounts to theft from the estate. Get them to put that in writing - if they dare.

Confirm their comment in writing and ask them to confirm that it is true.

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Thanks for the reply.

I thought it had to be nonsense and told the person on the enquiry desk that if that was their official stance I would be contacting everyone I can think of.

 

 

Looked ludicrous but just thought I'd ask.

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