Withdrawal of Inherited Funds from the Deceased’s Account – UOKiK Intervenes on Behalf of Heirs

The death of a loved one is an extremely difficult time, often involving the need to settle complex financial matters. Unfortunately, banks regularly create a veritable maze of procedures for heirs, effectively delaying access to the decedent’s bank account. The President of UOKiK is demanding formal changes to make it easier for heirs to access inherited funds.

Heirs’ difficulties in withdrawing funds from the deceased’s account

The Office of Competition and Consumer Protection (UOKiK) has been systematically receiving complaints about the actions of Poland’s largest banks for quite some time. For many families, banking procedures prove to be by far the most difficult part of all the formalities that must be completed following the death of a loved one. The main obstacles customers face include, above all:

• chronic delays in disbursing funds, even when the customer provides a complete set of documents confirming the acceptance of the inheritance,
• complex formal procedures and the proliferation of additional documents required to be submitted,
• denial of access to the deceased’s account history and loan agreements,
• the requirement that all heirs appear in person at a single location and time.

Another particularly egregious practice is the immediate declaration of the deceased’s loans as due and the imposition of additional fees, which, in practice, leaves the deceased’s family no time to respond and arrange for repayment.

The President of UOKiK Demands Simplified Procedures for Heirs

The President of UOKiK scrutinized the procedures of Poland’s largest financial institutions (including PKO BP, mBank, ING, and Bank Pekao) and drew harsh conclusions. The Office concluded that the source of the problems described above lies in imprecise procedures, a lack of clear standards, and employees’ poor preparation for handling inheritance matters. Consequently, the UOKiK President has sent official letters to the banks.

In these letters, he demands an immediate simplification of the complicated procedures and that customers be reliably informed of their rights. Banks must immediately standardize their practices to make it easier for heirs to access the funds owed to them.

What to do if a bank delays the disbursement of funds left by a deceased person?

Money frozen by a bank is a major problem for many inheriting families. Funds left in the deceased’s account often constitute a significant portion of the estate. Heirs who do not permanently reside in Poland face particular difficulties in withdrawing these funds.

Intervention by the Office of Competition and Consumer Protection (UOKiK) can strengthen the heirs’ position in disputes with banks, but in practice, procedures following the account holder’s death can still be complicated. If a bank delays the disbursement of inherited funds, requests additional documents, or refuses to provide information about the deceased’s account or loan, it is worth verifying whether it is acting in accordance with the law.

Our experts in inheritance law can analyze your situation and recommend possible courses of action against the bank. Contact us, to find out how to recover the funds you are owed.