Accounts that help in facilitating daily banking transactions, and there are two types:
It provides expedited financial assistance for the legal heirs of a client whose salary is transferred to Signature. This is to cover emergency expenses in the unfortunate case of the client’s passing.
The letter of inheritance from the religious court received by the bank will be admitted and considered as an official death-declaration document of the deceased whose inheritance is to be assessed and processed, and his/her accounts to be declared.
Based on that, the bank proceeds with the necessary procedures to close the deceased’s accounts, makes sure that Mazaya program applies to him/her, and claim the amount from the insurance company. Therefore, the bank must directly contact the deceased’s family to obtain the needed documents and inform them of the amount payable.
The same shall apply when being notified of the death through a death certificate, inheritance document, or any official document that indicates the case.
This is an optional service provided for the bank’s clients. In case the client doesn’t wish to subscribe to it, he/she should sign a proper letter declaring that.