Setting up an account for a deceased estate for the purpose of selling SRN holdings.
Step 1 - Open Account
Complete online application form Follow the usual process for opening an account in TCOps, with the below options selected:
Account Type: Individual
CHESS: Non-CHESS
Account Name: EST name of deceased person e.g. “EST Pearl White”
Settlement Bank Account:
o in the name of the estate or
o the executor(s) ATF the Estate or
o Legal Representative Trust account.
Step 2 – Upload Documents
Under Supporting Documents – please upload:
- Certified copy of the Probate or if deceased did not have a will, certified copy of Letters of Administration
- A certified copy of the primary ID (Driver's License or Passport) of the Executor(s).
- A signed letter from the Executor(s) containing authorisation to transfer the sale proceeds to one of below following bank accounts.
- in the name of the Estate
- the executor(s) ATF the Estate
- Legal Representative Trust account.
(Alternatively, if you have a signed application form that includes the settlement page signed by the executor, it can be accepted as a substitute for the letter from the executor.)
Step 3 – Executor(s) to sign application form
- Save the account in draft
- Click “View PDF” to print off the form and provide to client alongside FinClear T&Cs.
- Form should be signed by the executor(s)
- Once the signed application has been returned you can go back into the application and click “Submit for Review”
- Our Account Services team will review and create the account
Reminder: please ensure all documentation has been signed, terms of trade provided to the client and AML/KYC completed prior to submitting the account to FinClear. The account can remain in draft status for as long as you need whilst organising the paperwork. You will need to read and agree to the pop-up attestation for each account that you submit.