What to do when a Current account holder dies

A Current account has no payable-on-death designation, no joint owner and no trust title, so the balance is part of the estate.¹

A teen account belongs to the parent: the teen is only an Authorized User, whose authority "may be automatically terminated by the death of any owner of the CRB Account."¹

If the Current account is closed, Zero Hash is instructed "to sell any remaining cryptocurrency balance(s) in your Hosted Wallet(s) at the prevailing market price(s)" and the proceeds go to the Current account or as directed, less costs of the sale or closing.²

The coins are sold at market, not transferred in kind to an estate wallet. They sit at Zero Hash LLC, "not held at Current, Choice Financial Group, or Cross River Bank."²

Partner bank holding Current deposits, including accounts reissued under Cross River numbers¹

Partner bank holding Current deposits not yet reissued under Cross River¹

Holds Current members' crypto balances²

Cross River section I.7, "Death or Incapacitation": "Your representative, appointed party, or designee agrees to notify us promptly if you die or become legally incapacitated." The Choice agreement carries the same clause at section 5.^{3, 4}

Current "will continue to accept deposits and process transaction instructions" until it is "(a) notified of your death or adjudication of incompetency, and (b) have a reasonable opportunity to act."^{3, 4}

"Even if we have knowledge of your death, we may pay or process transactions on your CRB Account on or before the date of death for up to ten (10) days after that date unless ordered to stop payment by someone claiming interest in the CRB Account."^{3, 4}

Both agreements say that if Current receives an adverse claim to the account and does not believe it is adequately protected if it ignores the claim, it "may place a hold on funds that are subject to the claim."^{3, 4}

"The hold may be placed for any period of time we believe to be reasonably necessary to allow a legal proceeding to determine the merits of the claim to be instituted."^{3, 4}

Where Legal Process such as a garnishment or levy is on the account, Current "may refuse to permit (or may limit) withdrawals or transfers from your CRB Account until the Legal Process is satisfied or dismissed."³

When the account is closed, the unused balance can be returned "via check sent to the mailing address we have in our records." Current may require identification and address verification documentation before it issues the refund check.³

"Allow up to fourteen (14) days for the refund check to be processed, plus additional time for the check to be mailed to you."³

Current opens no estate accounts, and both agreements bar mobile deposit of "Checks payable to any person or entity other than you," so a check payable to the estate cannot be deposited into a personal Current account.^{3, 4}

A closure fee of up to $10.00 may be charged, and "Check processing fees may apply" to the refund check.³

After twelve consecutive months with no financial transaction activity the account is inactive and "subject to a $5.00 inactivity fee, per month, for each subsequent month of continued inactivity."¹

Longer dormancy sends the balance to the state of the last known address, with an escheatment fee of up to $20.00. "You will then need to apply to the state for return of your funds."¹

Current is expanding its Cross River Bank partnership and reissuing account and routing numbers, teen accounts included, so older statements can show a different bank. Deposits sent to the old numbers still arrive, so an old direct deposit keeps funding the account until stopped at the source.¹

"You can find your partner bank by checking the back of your card." In the app, the Cross River details are under the Home tab, then Details; the earlier numbers are under the question mark at the top right of the Account screen, then "Previous Account Information".¹