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How the nominee can access bank locker after the death of hirer?

IamCheated.com Research Team | May 21, 2019  2:00:pm

Due to the increased number of theft and robbery, people prefer to keep their valuables in the bank locker. Bank locker is a facility provided by banks to its customers to keep their precious items safely. Normally people keep items such as jewelry, important documents and will in lockers. Banks will charge customers for providing this service.

You can avail this facility individually or jointly. A hirer of the locker can register a nominee to access it in case the hirer dies. In this blog, we will discuss how the nominee can access the safe deposit locker in the event of hirer’s death.

Here’s how to access bank locker in case of death of an individual locker holder

As we mentioned earlier, locker facility can be availed individually or jointly. In order to access the locker in case of death of an individual locker holder, the nominee has to make an application to the bank and submit the following documents:

  • Copy of death certificate of the hirer
  • Identification proof of the nominee according to KYC guidelines
  • Acknowledgment as per form

Here is how to access the bank locker in the event of death of one or more locker holders:

In the case, locker facility has been availed jointly, the application can be made by both nominee and the surviving holders. Here are the documents which have to be submitted while making the application with the bank:

  • Copy of death certificate of the hirer
  • Identification proof of the nominee and joint holder according to KYC guidelines
  • Acknowledgment as per form

When the bank gets to know that one of the locker holders has expired information, it will seal operations and access to the locker and write on a slip stuck to the locker that it is under a “deceased claim”.

In case the locker is hired with the operation by “either or survivor” or “anyone or survivor”, only the person who is alive can access the locker and take out the content from the locker. This can be done only after the bank verifies the proof of death.

If both the locker holder dies, the nominee can access the locker after the bank is done with the verification process.

Process of accessing bank locker

Before the surviving holder or nominee can take out the content of the locker, the Locker Custodian of the bank makes an inventory of the articles in the front of the nominees or surviving holders and an independent witness.

As per the RBI guidelines, the locker hirer can appoint the nominee to his bank locker. So, in case you are availing a bank locker facility from the bank, it is advisable to register a nominee. This will make the process of accessing the bank locker easy.

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