How to designate beneficiaries at SouthState Bank

A POD account is a single account or a joint account with rights of survivorship, with one or more persons designated as beneficiary on the signature card.¹

An account that does not meet the legal requirements for a POD or revocable trust account may be treated as an account without POD features, with the funds paid to the last owner's estate or as the law requires.¹

Among business accounts, only a sole proprietorship account may have a POD beneficiary.²

Two or more surviving beneficiaries share equally.¹

For payable-on-death accounts. Provided at a branch.¹

On a joint POD account the funds pass to the surviving owners first. After the last owner dies they pass to the beneficiaries, after SouthState deducts any fees or costs the last owner owed.¹

If no beneficiary survives the last owner, the funds are paid to the last owner's estate.¹

SouthState has no obligation to notify a beneficiary that a POD account exists.¹

An owner may not transfer or assign an account. SouthState closes the account and opens a new account in the transferee's name.¹

SouthState assumes no liability for the administration of any trust.¹

The trust account is governed by applicable state law and the trust certification, or by the trust documentation provided when there is no certification.¹

A trust account opened with a federal employer identification number is a business deposit account under SouthState's Business Deposit Account Agreement.²

Serves as trustee, co-trustee, successor trustee or agent³