Financial services industry launches Death Notification Service
A new service enabling people to report the death of an individual to several major financial services providers at the same time launches today.
The free, online Death Notification Service is available to anyone who wishes to notify, in a single step, one or more of the member organisations that a customer has died.
The gateway service aims to make the process easier for those who have suffered a bereavement by relieving the stress around repeated notifications and enabling them to manage these at a time that is convenient.
Once the online form is completed, the selected financial institutions will then contact the notifier to inform them of the next steps.
Stephen Jones, chief executive of UK Finance, said:
“Following the death of a friend or family member, it can be hard to repeat the same conversation with several organisations. The launch of this new service is an important milestone in the industry’s commitment to do all it can to provide greater help and support to people during difficult circumstances.”
The development of a simple and secure way for consumers to notify all relevant financial services firms of a customer’s death was a recommendation of the Financial Services Vulnerability Taskforce. The Death Notification Service is being launched by six UK Finance member organisations, including their related brands.
When a notification is received, the relevant organisations will update their records and advise the person who contacted them of the next steps. Notifiers can expect to receive communication from firms subscribing to the services within 10 calendar days. The service can be used by anyone, including carers, neighbours, professionals, as well as family members.
Over the next few months, UK Finance and member organisations will work together to evaluate, enhance and evolve the service to ensure it best meets user needs.