Losing a loved one is never easy, and managing their financial affairs during such a difficult time can feel overwhelming. If you are the next of kin of a Grey account holder who has passed away, this guide will walk you through the process of accessing their funds.
What happens to a Grey account when the account holder passes away?
When Grey is notified that an account holder has passed away, we take immediate action to protect the account and preserve any funds held in it.
Once death is confirmed, the account will be:
Secured and frozen to prevent unauthorised access
Restricted from all activity, including withdrawals, transfers, card transactions, and automated payments.
All funds in the account, including balances in USD, EUR, GBP, and USDC, will remain safely held and unaffected. These funds are not lost and are not accessed by Grey. They will be securely maintained until they can be lawfully released to the rightful beneficiary.
Who can claim funds from a deceased account holder?
Funds from a deceased Grey account holder can be claimed by:
Next of kin (spouse, children, parents, siblings, or other close relatives)
Named beneficiaries in a will
Legal representatives such as executors or administrators of the estate
The claimant must provide proof of their legal entitlement to the funds.
How to initiate a claim
Step 1: Contact Grey Support
If you are the next of kin, beneficiary, or legal representative of a deceased Grey customer, please reach out to us via email at [email protected].
In your initial message, please include:
Full name of the deceased account holder
Email address or phone number linked to the Grey account
Date of death
Your full name, contact details, and relationship to the deceased
Our support team will acknowledge your request and provide guidance on the next steps.
Grey does not proactively contact next of kin or third parties. This is standard practice across financial institutions and helps protect customer privacy and prevent unauthorised access. All claims must be initiated by the next of kin or legal representative.
Step 2: Provide documents to claim funds
To release funds, Grey must verify both the death of the account holder and your legal entitlement to claim the funds.
You will typically need to provide:
A certified copy of the death certificate
A valid government-issued ID (passport, national ID card, or driver's license)
Proof of relationship or legal authority, such as:
Marriage certificate (for spouses)
Birth certificate (for children or parents)
Last will and testament
Grant of probate
Letters of administration
Depending on your location and the circumstances of the claim, additional documentation may be required. Our team will inform you if anything else is needed.
How are funds released?
Once all required documents have been submitted, verified, and there are no legal disputes:
Funds will be released in one of the following ways:
Transferred to the deceased customer's estate account, or
Paid directly to the legally entitled beneficiary or beneficiaries
The method of release will depend on applicable laws, the presence of a will, probate requirements, and any court instructions.
Grey cannot release funds without proper legal verification. This protects both the estate and potential beneficiaries from unauthorised claims.
How long does the process take?
The time required to process a claim depends on several factors:
The completeness and accuracy of the documents provided
Whether the claim is straightforward or involves disputes among potential beneficiaries
We understand that this is a sensitive time, and we will work diligently to process your claim as quickly as possible. Our team will keep you informed throughout the process and notify you if any additional information is needed.
Are there any fees?
Grey does not charge any fees for processing valid next of kin or estate claims.
However, you may incur external costs when obtaining the required documents, such as notarisation or court filings.
These costs are the responsibility of the claimant and are not covered by Grey.
For full details on our policies regarding deceased account holders, please read our Next of Kin/Beneficiary Fund Access Policy.