What to do when a Banco Popular account holder dies
Report the death to Banco Popular's Estate Processing at 1-787-724-3659
When an account holder at Banco Popular passes away, the next step depends on how the accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Banco Popular's Estate Processing (1-787-724-3659) to access and distribute the funds.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting Banco Popular.
Death claim process
To file a claim after an account holder's death, here is what Banco Popular requires:
Filing a claim
- Payment for Funeral Expenses
- Certification of Banking Relationship
- Advance on Available Funds
- Liquidation of Funds
- The page's document-list generator asks the request type, the deceased's country of residence, whether there was a will, whether any heir has died, and whether all heirs and co-owners will attend
- It then gives a personalized document list as a PDF with instructions
- Issued in Puerto Rico, no will: death certificate plus a Resolution of Declaration of Heirs or Notarized Act of Declaration of Heirs
- Issued in Puerto Rico, with a will: death certificate, the will, and a Certification of Validity of the Will from the Registry of Powers and Wills dated after the death
- Where an executor (albacea) represents the succession: a Resolution on Testamentary Letters or an affidavit accepting the role
- Issued in the United States, no will: death certificate plus Letters of Administration from a Surrogate or Probate Court, and a Small Estate Affidavit if applicable
- Issued in the United States, with a will: death certificate, the Last Will and Testament, and Letters Testamentary from a Surrogate or Probate Court, and a Small Estate Affidavit if applicable
- A descendant requesting only the banking certification may give a birth certificate in place of the heirship resolution
- A lawyer representing the succession uses an Information Request Letter
- Use the Affidavit for Liquidation of Bank Accounts (form BRA-028) in place of a Resolution or Notarial Act of Declaration of Heirs
- Include a Negative Certification of Will from the Registry of Powers and Wills confirming the deceased person left no will
- The affidavit must identify all heirs of the deceased person
- If the affidavit is notarized outside Puerto Rico, attach the County Clerk Certificate or Apostille
- Funeral expenses: an official check payable to the funeral home for the invoiced amount, drawn from the deceased person's funds at Popular
- It requires the death certificate (original or copy) and the funeral home's invoice in the deceased customer's name. It is not a reimbursement to heirs
- Any one heir, co-owner, or duly authorized representative may collect the funeral check
- General advance on available funds: up to $15,000, or 25% of the available funds. A funeral-expense disbursement already made is deducted from the advance
- Puerto Rico: an affidavit, or a power of attorney issued in Puerto Rico. A power of attorney more than 90 days old also needs a Certification of Validity from the Registry of Powers and Wills
- United States: an affidavit or power of attorney plus the County Clerk Certificate from the issuing state
- Foreign country: an affidavit or power of attorney accompanied by an Apostille
- Active military: an affidavit or power of attorney with the County Clerk Certificate (not needed if notarized by a High-Ranking Official), or a Military Power of Attorney
Required Documents
- Certified death certificateAn original or a copy.
- Copy of the requestor's identification
- Resolution or Notarial Act of Declaration of Heirs, for Puerto Rico-issued documents, where there is no will
- The will, with a Certification of Validity of the Will, for Puerto Rico-issued documents, where there is a willThe certification comes from the Registry of Powers and Wills and is dated after the death.
- Resolution on Testamentary Letters, or an affidavit accepting the role, where an executor (albacea) represents the succession
- Letters of Administration, for United States-issued documents, where there is no willGranted by a Surrogate or Probate Court.
- Last Will and Testament, with Letters Testamentary, for United States-issued documents, where there is a willThe Letters Testamentary are granted by a Surrogate or Probate Court.
- Small Estate Affidavit, for United States-issued documents, if applicable
- Birth certificate, for a descendant requesting only the banking certificationAccepted in place of the heirship resolution.
- Information Request Letter, for a lawyer representing the succession
- Affidavit for Liquidation of Bank Accounts (BRA-028) and a Negative Certification of Will, for a small estate of $2,000 or less in total, with no will and no Declaration of Heirs obtained or startedThe affidavit identifies all heirs. One notarized outside Puerto Rico needs the County Clerk Certificate or Apostille.
- Lien Cancellation Certificate (Relevo de Herencia), with Appendix A, only if the aggregate balances exceeded $15,000 at the date of deathIssued by the Puerto Rico Treasury (Departamento de Hacienda); also called the Certificación de Cancelación de Gravamen or Heir Release. It must identify the accounts and assets being liquidated.
- Funeral home invoice in the deceased customer's name, for a funeral-expense advance
- Power of attorney or affidavit, for any heir or co-owner not present at the disbursementWith the County Clerk Certificate or Apostille that the person's location requires.
Claims Contact
Website: Online portal →
Forms Banco Popular issues4
- Requirements for Advancement or Disbursement of Deceased Customer Funds (BRA-1032A)
Available to download.1
- Requirements for Advancement or Disbursement of Deceased Customer Funds, in Spanish (BRA-1032)
Available to download.2
- Request for Certification of Banking Relationships of Deceased Customers (BRA-1031A; BRA-1031 in Spanish)
Provided at a branch.3
- Affidavit for Liquidation of Bank Accounts (BRA-028)
Sent by the institution on request.3
What Banco Popular provides to the estate2
- List of the deceased person's accounts
Popular issues a Certification of Banking Relationship on request, on form BRA-1031A (BRA-1031 in Spanish). It is one of the four estate request types.3
- Statement copies
Where the deceased person held only credit cards, statements can be requested from Card Product Customer Service at 787-758-0505 after the Certification of Banking Relationships is completed at a branch.3
What Banco Popular's agreement and guidance say5
- What it does when notified
When the death is recorded, the account is coded as a deceased customer's and the funds are frozen. The deceased person's debit and credit cards stop working, as do the cards of any cardholder or authorized user on those accounts.3, 4
On notice of death Popular "will codify the Account and freeze any funds pursuant to applicable law," and is "not required to release any funds until we receive any documents we reasonably request pursuant to applicable law."4
- Deposits after the death
Government benefit deposits such as Social Security and retirement pensions are stopped and returned to the issuing agency before liquidation. Under the Death Notification Entry clause, Popular may freeze, refuse, or reverse and return payments made after the date of death.3, 4
- How proceeds are paid
Final liquidation is one official check payable to all heirs of the succession and all registered joint owners together; the heirs distribute the proceeds among themselves. Popular makes no partial liquidations and closes the accounts once the balance is liquidated.3
- Wills, probate and small estates
Popular does not divide the inheritance or adjudicate anyone's share. The Deposit Account Agreement says distribution of the balance "shall be subject to the provisions of the Puerto Rico Civil Code, the Puerto Rico Internal Revenue Code of 2011, as amended or superseded, or any other analogous law".3, 4
- Dormant and unclaimed accounts
BRA-1032A warns that deposits may be reported as unclaimed after years without activity. The funds must then be claimed from the Office of the Commissioner of Financial Institutions of Puerto Rico rather than from Popular.1
Not in Banco Popular's published guidance1
- How long a claim takes
Banco Popular's Estate Processing can be reached by phone at 1-787-724-3659 for questions throughout the claims process.
Sources
Data sourced from Banco Popular primary sources (21 pages reviewed). How we research.
Banco Popular death claims support
Estate Processing (696)
Phone
TeleBanco Popular (toll free, outside Metropolitan Area)
TeleBanco Popular (published on the estate-processing page)
Card Product Customer Service (credit-card-only estates)
Hours
Mailing address
Website
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