What to do when a TowneBank account holder dies
After an account holder at TowneBank 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 TowneBank's Towne Trust Company, N.A. at 1-757-599-2200 with the proper legal authority documents.
To start, call TowneBank at 1-757-599-2200. Have the account holder's full name, account numbers, and the death certificate ready before you call.
Death claim process
The death claim process at TowneBank works as follows:
Filing a claim
- TowneBank directs checking and savings account questions to a local banker or the nearest TowneBank office.
- Find a banker in the online directory, send a Meet with Us request, or visit any TowneBank office.
What happens to each kind of account1
- IRA
"IRAs are considered Payable on Death accounts. Once we are notified of an IRA owner's death, a hometown banker will work with the named beneficiary to allocate the funds accordingly."1
State law on paying a balance without lettersTennessee
- Tennessee
T.C.A. § 45-2-708
Tennessee law permits a bank to pay from a deceased depositor's balance on proof the institution accepts, without letters testamentary or letters of administration.T.C.A. § 45-2-708Verified Oct 3, 2026View source
Limit: $15,000 held at the institution
When: 30 days after the death
Paid to: the executor named in any will known to the institution; in the absence of knowledge of a purported will naming a surviving executor: a creditor for expenses of the funeral; a creditor for the expenses of the last illness; the surviving spouse; the next of kin
The section permits the payment. It does not require the bank to make it. The section sets further conditions.
T.C.A. § 30-2-103(b)(2)
Tennessee law permits a bank to pay from a deceased depositor's balance on proof the institution accepts, without letters testamentary or letters of administration.T.C.A. § 30-2-103(b)(2)Verified Oct 3, 2026View source
Limit: $10,000 held at the institution
When: six (6) months have passed since the decedent's death without an application being made for the appointment of a personal representative
Paid to: the surviving spouse of a decedent or a trust for the benefit of the surviving spouse; if no surviving spouse exists, the surviving children of the decedent as tenants in common or a trust for the benefit of any surviving children (in that order)
The section permits the payment. It does not require the bank to make it. The section sets further conditions.
What TowneBank's agreement and guidance say1
Not in TowneBank's published guidance5
- A procedure for reporting a death
- A list of required documents
- How long a claim takes
- A mailing address for claim documents
- Terms in its agreements for a customer's death
Sources3
TowneBank's Towne Trust Company, N.A. can be reached by phone at 1-757-599-2200 for questions throughout the claims process.
Sources
Data sourced from TowneBank primary sources (34 pages reviewed). How we research.
TowneBank death claims support
Member Care Center
Online & Mobile Banking (Towne-Personal & Towne-Biz)
Loan payments and payoff (Towne Member Care)
Lost or stolen debit/ATM card
Lost or stolen debit/ATM card, after hours and weekends
Website
Death notifications go through general customer service.
Estate planning articles
Learn how to protect your TowneBank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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