What to do when a Greenlight account holder dies
Report the death to Greenlight's Cardholder Services at 1-888-483-2645
After an account holder at Greenlight dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact Greenlight's Cardholder Services at 1-888-483-2645 with the proper legal authority documents.
Claims can be filed by phone (1-888-483-2645) or by emailing documentation to support@greenlight.com. Before reaching out, gather the account holder's full name, account numbers, and the death certificate.
Death claim process
The death claim process at Greenlight works as follows:
Filing a claim
Required Documents
- Certified copy of the death certificate
- Letters Testamentary or Letters of Administration, naming you as executor or administratorSection 13.3 releases funds "to a verified law office upon receipt of proper legal documentation," so a law firm handling the estate can be the payee of record.
- Small-estate affidavit, in place of Letters, if support accepts it
- Government-issued photo ID for the executor or authorized representative
- Letter of instructionIdentifies the Primary Accountholder's Greenlight account (name, account email and phone) and where the funds should be sent.
- Proper legal documentation of representation, if the funds are to be released to a verified law office
- Written termination notice to Greenlight Investment Advisors, if there is an Invest AccountSigned in your fiduciary capacity, to end the Advisor's authority over the Invest Account under Advisory Agreement § 11.
- Official documentation of legal authority, for a person acting on a Supported Adult Cardholder's behalfA power of attorney, guardianship, conservatorship or other legal authority to act for that person.
What happens to each kind of account2
- Stored balance
Under § 13.3, "Upon the death of a Primary Accountholder, all associated accounts will be closed and unused balances will be returned to the Funding Account on file, by paper check, or to a verified law office upon receipt of proper legal documentation." The Card Account and Savings close once CFSB learns of the death.1
If a child (Secondary Cardholder) or a Supported Adult Cardholder dies, that account is closed and the funds are transferred to the surviving Primary Accountholder. Nothing goes through the deceased cardholder's estate.1
- Investment account
Closing the Card Account also closes every Invest Account, including each child's "Investing for Kids" portfolio, which belongs to the deceased parent, not the child. Alpaca sells the positions, and the proceeds, less applicable expenses and any unpaid fees, go to the Primary Accountholder.1
There is no in-kind transfer of the securities to an heir and no step-in by a successor. The Greenlight Advisors Terms of Service make the account non-assignable "by operation of law or otherwise".2
When an account closes, investments are sold at current market value, or the next business day if the market is closed, and the remaining balance is refunded within 5-7 business days.3
Accounts handled elsewhere3
- Community Federal Savings Bank
Issues the Card Account and Savings and is the party to the Cardholder Agreement; Greenlight is its servicer1
- Alpaca Securities, LLC
Custodian of the Invest Account; sells the positions when the account closes1
- Greenlight Investment Advisors
The advisory relationship on the Invest Account, ended by written termination notice4
What Greenlight's agreement and guidance say5
- Telling the institution
Under Advisory Agreement § 11, "The death or incapacity of the Client shall not terminate the authority of the Advisor granted herein until the Advisor receives a written termination notice from the Client's executor, guardian, attorney-in-fact or other authorized representative".4
- Fees
Section 11 keeps advisory fees payable, pro-rated through the end of the subscription period in which termination falls.4
Under § 13.2 Greenlight may keep any remaining balance under $1.00 as a one-time de minimis balance fee on closure. An Invest Account holding less than $1.00 may be charged a wind-down fee of up to $1.00.1
- How proceeds are paid
Under Advisory Agreement § 10, sale proceeds normally go to the Card Account, but "when your Card Account is already closed" you "may be required to receive a check, wire or ACH transfer directly from the Custodian," coordinated by Greenlight.4
- Dormant and unclaimed accounts
Section 13.2 permits closure of a Card Account that has held a $0.00 balance and been inactive for three or more months, and § 13.4 sends an inactive balance to the state unclaimed-property office.1
For unclaimed funds, Greenlight first tries the original payment method, then mails a check to the address on file, then sends the funds to the state.5
- Online access
Only the Primary Accountholder can close a Greenlight account in the app, so an executor works through support.6
Not in Greenlight's published guidance5
- A procedure for reporting a death
- A department for deceased-customer accounts
- A claim form
- How long a claim takes
- Which court appointment document it accepts
Sources6
- 1.Greenlight Prepaid Mastercard Cardholder Agreement, Effective: September 8, 2026
- 2.Greenlight Advisors Terms of Service
- 3.How do I close my Greenlight account?
- 4.Non-Discretionary Asset Management Advisory Agreement
- 5.What happens if I have unclaimed funds on my Greenlight account?
- 6.Greenlight Help Center
Greenlight's Cardholder Services can be reached by phone at 1-888-483-2645 and email at support@greenlight.com for questions throughout the claims process.
Sources
Data sourced from Greenlight primary sources (15 pages reviewed). How we research.
Greenlight death claims support
Cardholder Services
Phone
Toll-free
Text support
Hours
Mailing address
Website
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