Can funds be transferred directly to the Executor or Beneficiary’s personal account?
Defence Bank is unable to pay the Estate funds directly into the Executor or beneficiary's own bank account(s).
Defence Bank will pay Estate funds through the below options:
- Bank Cheque made payable to the Estate of the deceased member.
- Transfer to an account opened in the name of the Estate either with Defence Bank or another financial institution.
- Transfer to the Trust account of the Solicitors acting on behalf of the estate.