Administration of Estates: Coronavirus

(asked on 18th June 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will issue guidance to (a) banks and (b) other financial institutions on the timely provision of information to Executors seeking to wind-up estates for probate during the covid-19 outbreak; and if he will make a statement.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 23rd June 2020

Throughout the COVID-19 pandemic, the Government, alongside the financial regulators, has been working closely with the financial services industry to ensure that individuals and businesses have the support they need. If anyone has concerns or questions about their banking, including the administration around bereavement, we urge them to speak to their provider. Frontline staff in banks, building societies and credit unions are working tirelessly to deal with a significant volume of customer enquiries.

The treatment of customers by UK firms which are regulated by the Financial Conduct Authority (FCA) is governed by 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. The Government is also supportive of previous industry efforts to improve handling of these sensitive cases, including the implementation of the British Bankers’ Association’s (now known as UK Finance) Bereavement Principles. These Principles include a commitment from firms to provide support to meet individuals’ needs throughout the bereavement process and to work to resolve everything as quickly and simply as possible.

The Government will continue to work with the FCA and industry to understand how they are handling bereavement processes and policies around probate in the current context.

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