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<p>UK banks’ and building societies’ treatment of their customers is governed by the
Financial Conduct Authority (FCA) in its Principles of Business. This includes a general
requirement for firms to provide a prompt, efficient and fair service to all of their
customers, including those who have recently suffered a bereavement.</p><p> </p><p>The
Government is supportive of industry efforts to improve handling of these sensitive
cases, including the implementation of the British Bankers’ Association’s Bereavement
Principles. These Principles commit firms to support customers and, in particular,
allow necessary payments to be made from the deceased’s accounts. Such payments include
inheritance tax, which can be paid directly to HM Revenue and Customs, before probate
is granted, through the Direct Payment Scheme. Where lower amounts are held, the Principles
also commit firms to consider whether they can waive probate requirements and release
funds more quickly.</p>
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