A business relationship between Saxo Bank (Switzerland) Ltd. and a deceased bank client
is not automatically terminated as a result of his death. Upon the death of a bank client, the community of heirs or the sole heir takes over the deceased's position of the deceased in the banking relationship.
In case of client death, we kindly request the heirs of the deceased client respectively the Administrator/Executor of the deceased’s estate to notify us via our homepage.
As a minimum, we request to provide us with the information/documentation below:
- Original or a notarized copy of the Death Certificate.
- Original or a notarized copy of the Letters of Administration (if available), conclusively evidencing that the Administrator/Executor is authorized to act in such capacity
-if last place of residence was Switzerland: original or notarized copy of the certificate of inheritance
-if last place of residence was abroad: Original or notarized copy of a document corresponding to the certificate of inheritance. Depending on the country of the issuing authority, the inheritance documents must be provided with an apostille or certified by the Swiss embassy. Country-specific requirements (such as certified translations of the documents) are determined by the bank for each individual case - Administrator/Executor’s full name.
- Administrator/Executor’s contact details such as email and phone number.
- Notarized copies of the Administrator/Executor’s identification details and documents, such as Passport or Identification Card.
The list above is not exhaustive. Additional documentation may be requested, depending on the specific case.
Once Saxo has received sufficient documentation, it will be reviewed. Saxo may perform a callback to the Administrator/Executor to conduct identity verification. Once approved, Saxo will only take instructions from the Administrator/Executor on actions to be taken relating to the funds / open positions on the deceased client’s account (subject to compliance with Saxo’s internal policies), and we will proceed to close the respective Saxo account.
Until the business relationship is terminated, the general terms and conditions of Saxo Bank (Switzerland) Ltd. (available at: https://home.saxo/dech, see in particular section 2 on risk recognition and section 3 on confirmations and obligations of the client) as well as the risks explained in the information brochure “Risks in trading in financial instruments” continue to apply.
Unfortunately, it is not possible for an account holder to appoint a trustee/nominee in advance.