Standard Bank Executors Current Account

Death is an inevitable experience for all human beings. In many instances, resolving the estate of the deceased is an assignment that closely follows burial proceedings. Under the law, the person entrusted with the responsibility for winding up someones earthly affairs is called an executor. An executor is charged with protecting a deceased persons property until all debts and taxes have been paid, and ensure that whats left is transferred to the people who are entitled to it. In order to make this process a smooth one, Standard Bank introduced the Executors Current Account.

An Executors current account is a transactional account mainly used by appointed third parties when winding up or managing the financial affairs of personal and business entities. The third party is appointed because the customer may have been legally sequestrated, liquidated, been placed under curatorship or is deceased. This account allows an appointed executor, liquidator or curator to deposit, withdraw and make payments to third parties via various channels.

Some of the features and benefits of this account include the fact that cash and cheque deposits can be made at an AutoBank on a 24 hour service, the account helps the appointed executor, liquidator or curator to maintain accurate banking records,produce statements for ease of reference and maintain and control the financial records of an estate, liquidation or sequestration.

To access this account, Standard Bank can be contacted on 0860123000.