The guide below will help you understand what information and documents we will need to handle the closure of a Chip account after somebody has died.
If you’re not sure you have all of the correct documents, we advise that you seek the help of a professional adviser, such as a lawyer with expertise in Wills and estates, to help you with this.
How to reach out to us and what documents and information will need to be provided
In order for us to close an account and move any funds after the account holder's death, we would need the executor or solicitor to contact us via email at hello@getchip.uk. To ensure full legality and that due process is followed correctly, we would need them to provide the following:
Chip account details of the deceased (phone number, email address, full name);
A copy of the Death Certificate;
A copy of the Will or Letters of Administration;
A form of ID and proof of address for the executor;
Probate/Letter of Administration (if holdings exceed £10,000).
If it's a solicitor contacting us, in addition to the above, we would also need the following:
Law Society ID or the SRA (Solicitors Regulation Authority) number.
The next steps
As soon as we're informed of the account holder's death, we will restrict the account so no further deposits or withdrawals can be made. We will also halt the monthly fee if the account holder is on the ChipX plan.
Once we have all of the required documents, we will process a withdrawal of the funds and we will close the account.
What if the account holder was a Chip shareholder?
If the account holder was a Chip shareholder, please note that their shares can only be transferred rather than sold or exchanged. Please reach out to our support team and we will be happy to advise you further.
Further support for dealing with bereavement
For further support, you can visit the following sites:
Child bereavement UK:
Survivors of Bereavement by Suicide: https://uksobs.org/
Bereaved through Alcohol and Drugs: https://www.beadproject.org.uk/
If you have any questions, please reach out to us via email at hello@getchip.uk or via the in-app chat (which can be found in the Profile tab) and we'll be happy to help you further.