Estate Planning 101

Notifying BBVA Compass After a Loved One’s Passing

September 13, 2023

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When a loved one passes away, one of the many necessary tasks is to notify the financial institutions they were affiliated with, such as the bank. If your loved one was a customer of BBVA Compass Bank, it's important to notify them about the death as soon as possible to secure the deceased's assets and prevent identity theft.

Who Should Be Notified

BBVA Compass Bank should be notified if the deceased had any accounts with them. This includes checking and savings accounts, credit cards, loans, or any other financial product or service provided by this bank.

When to Notify

You should notify the bank as soon as possible after the death. This will help in preventing unauthorized transactions and protect the deceased's assets.

How to Notify

To notify BBVA Compass Bank, you will need to contact their customer service line at 1-844-BBVA USA or visit your local branch. Have the deceased's account number(s) and a copy of the death certificate available. The bank may ask for additional documents like a will or court appointment letter if you're the executor of the estate.

What to Expect After Notification

Once BBVA Compass Bank is notified, they will freeze the deceased's accounts to prevent any further transactions. If the deceased had a joint account, the bank will usually allow the other account holder to continue accessing the account. If you're the executor or next of kin, the bank will guide you through the process of closing the account or transferring the funds, depending on the situation.

Tips for Notification

When notifying the bank, make sure to take detailed notes of all interactions, including dates, times, and names of any representatives you speak with. This can be helpful if there are any discrepancies or issues in the future. Also, remember to ask about any outstanding debts or loans the deceased may have had with the bank.

Conclusion

Notifying BBVA Compass Bank about the death of a loved one is a crucial task that helps protect the deceased's assets and ensures their financial affairs are properly handled. By having the right information and understanding the process, you can navigate this responsibility effectively during a challenging time.

FAQ

Q: Can I notify BBVA Compass Bank online?
A: Currently, the bank requires notification of a death via phone call or in-person visit to a branch.

Q: What if I can't find the deceased's account number?
A: The bank may be able to locate the account using the deceased's name and social security number.

Q: What happens to any direct deposits or automatic payments linked to the deceased's account?
A: Once the account is frozen, direct deposits or automatic payments will be stopped. You will need to contact the appropriate companies or agencies to redirect these transactions.