Inquiries about Savings under the Name of the Deceased in the Process of Succession Notarization
- Document Number：No. 78  of the Ministry of Justice
- Area of Law： Marriage,Family Support,Adoption,and Inheritance Banking & Finance
- Level of Authority： Departmental Regulatory Documents
- Date issued：03-19-2013
- Effective Date：03-19-2013
- Issuing Authority： Ministry of Justice China Banking Regulatory Commission
- Status： Effective
Notice of the Ministry of
Justice and the China Banking Regulatory Commission on Matters Related to
Inquiries about Savings under the Name of the Deceased in the Process of Succession
(No. 78  of the Ministry of Justice)
The departments (bureaus) of justice of all provinces, autonomous regions, and municipalities directly under the Central Government; the Bureau of Justice of Xinjiang Production and Construction Corps; all local offices of the China Banking Regulatory Commission (“CBRC”); all state-owned commercial banks and joint stock commercial banks; and Postal Savings Bank of China:
For the purposes of safeguarding the lawful rights and interests of depositors and their successors, facilitating applications for savings succession notarization by the parties, and ensuring timely completion of transfer or payment procedures for bank savings, in accordance with the Law on Commercial Banks, the Notary Law, the Succession Law, and other relevant laws and regulations in China, you are hereby notified of the following matters related to inquiries about savings under the name of the deceased in the process of succession notarization:
I. A successor whose identity has been verified by a notary public may inquire about savings of the deceased in all banking financial institutions on the basis of a Savings Inquiry Letter issued by the notary public.
In issuing a Savings Inquiry Letter, a notary public shall verify that the depositor has died and the applicant for inquiry is the legal successor of the depositor.
II. Upon receipt of a Savings Inquiry Letter, a banking financial institution shall handle the inquiry for the successor in a timely manner, and issue an Advice of Savings Inquiry Results.
Where there are two or more successors, they may each or jointly make inquiries to a banking financial institution. An applicant for inquiry may sign a Power of Attorney as witnessed by a notary public, authorizing another person to make inquiries on his or her behalf.
III. If a notary public needs to verify the bank savings of the deceased in the process of succession notarization, banking financial institutions shall provide assistance.
IV. In the process of succession notarization, this Notice shall also apply to inquires about and verification of other property rights and interests of a nature of legacy which banking financial institutions manage or have knowledge of.
V. Notaries public and banking financial institutions shall enhance their collaboration, effectively conduct work on savings inquires and verification, practically safeguard the lawful rights and interests of depositors and their successors, and maintain the order of transfer and payment of bank savings.
VI. This Notice shall come into force on the date of issuance. Problems encountered in the implementation of this Notice shall be interpreted by the Ministry of Justice in conjunction with the CBRC.
The departments (bureaus) of justice of all provinces (autonomous regions or municipalities) and the local offices of the CBRC shall forward this Notice to the notaries public, CBRC sub-offices, and banking financial institutions within their respective jurisdictions.
Annexes: 1. Format of a Savings Inquiry Letter (Omitted)
2. Format of an Advice of Savings Inquiry Results (Omitted)
3. Format of a Power of Attorney (Omitted)
Ministry of Justice
China Banking Regulatory Commission
March 19, 2013