Probate is not always required when sorting out the deceased's bank accounts. Some financial institutions will allow executors or personal representatives to withdraw money up to a certain amount without having a grant of probate or letters of administration. As the threshold varies between different banks and financial institutions, we thought it would be helpful for those who are dealing with an estate to put this information in one place.
|
Institute |
Probate Threshold |
|
Aberdeen Standard Investments |
£75000 |
|
Aegon |
Probate always required for ISAs and GIAs but not SIPPS |
|
AJ Bell |
Case-by-case basis |
|
Alliance Trust Savings |
£25000 |
|
Aviva |
£50000 |
|
Barclays |
£50000 |
|
Best Invest |
Probate always required |
|
Fidelity |
£25000 |
|
First Direct Bank |
Case-by-case basis |
|
Hargreaves Lansdown |
£35000 |
|
HSBC |
Case-by-case basis |
|
Interactive Investors |
£15000 (£30000 in Scotland) |
|
Legal & General |
£25000 |
|
Lloyds Group |
£50000 |
|
M&S Bank |
Case-by-case basis |
|
Moneyfarm |
Probate always required |
|
Nationwide |
£30000 |
|
NS&I |
£5000 |
|
Nutmeg |
£5000 |
|
PensionBee |
Case-by-case basis |
|
Post Office |
£30000 |
|
Prudential |
£20000 (£40000 for solicitors) |
|
Quilter (formally Old Mutual Wealth) |
£30000 |
|
NatWest Group |
£25000 |
|
Royal London |
£100000 |
|
Sainsbury's Bank |
£20000 |
|
Santander |
£50000 |
|
Share Centre |
£15000 |
|
Skipton Building Society |
£30000 |
|
Tesco Bank |
£25000 |
|
True Potential |
Probate always required |
|
TSB Bank |
£25000 |
|
Virgin Money |
£35000 |
|
Wesleyan |
Case-by-case basis |
|
Yorkshire Building Society |
£20000 |
|
Zurich |
£75000 (£150000 for solicitors) |
If you have any questions about the probate process, would like further information, or would like to discuss your options, please contact Oratto today on our national helpline 0845 3883765, or email us – contact@oratto.co.uk
