What happens to your Upgrade accounts when you die
No beneficiary or trust option on any account, so they pass through the estate
Upgrade does not currently support beneficiary designations, transfer-on-death registrations, or trust account titling on any account type. All Upgrade accounts pass through the estate at death and may require probate.
When an account holder dies, the executor or administrator will need to contact Upgrade with a death certificate and legal authority documents to claim account balances. The process and required documents are covered on the death claim page.
Upgrade does not currently support beneficiary designations (POD or TOD) on any account type. All accounts transfer through the estate at death and may require probate.
Why trust accounts are not available
Upgrade does not support retitling accounts into a trust, naming a trust as beneficiary, or any other probate-avoidance mechanism. Account balances transfer through the estate at death.
Rewards Checking Preferred
Online checking account provided by Cross River Bank, Member FDIC, with an Upgrade Visa Debit Card, no monthly maintenance fees and cash back on eligible debit card purchases. Upgrade is unable to add beneficiaries. The account is available as a joint account for two account holders; a joint holder is chosen on the application and cannot be added to an existing account, and only one joint Rewards Checking Preferred account is permitted. Upgrade's public pages do not state whether a joint account passes to the surviving holder.
Performance Savings
Companion savings account to Rewards Checking Preferred: it must be closed if the Rewards Checking Preferred account is closed. Upgrade is unable to add beneficiaries. The Rewards Checking Preferred page lists Performance Savings as available as a joint account for two account holders. With an Active Account, Cross River Bank may, as the owner's agent and custodian, place funds at other participating banks and credit unions through the Custodial Deposit Program; information about those deposits is obtained from Upgrade, not the participating institutions.
Premier Savings
High-yield savings account at Cross River Bank, Member FDIC, with no monthly maintenance fees. Deposits are eligible for FDIC and/or NCUA insurance up to $1 million or more through Cross River Bank and participating institutions under the Custodial Deposit Program. Upgrade is unable to add beneficiaries. Premier Savings is available as a joint account for two account holders; only one joint Premier Savings account is permitted, and a joint holder cannot be added to an existing account.
Everyday Savings
Savings account paired with Rewards Checking Preferred; it can stay open if the Rewards Checking Preferred account is closed, and a customer can hold one. Everyday Savings is single account holder only: Upgrade states that joint account holders are not available. Upgrade is unable to add beneficiaries.
What Upgrade says about beneficiaries
Each section is Upgrade's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Payable-on-death account
Upgrade does not add beneficiaries to checking or savings accounts: "At this time, we are unable to add beneficiaries."1
- Account in one name
Rewards Checking Preferred accounts are available to U.S. citizens and permanent residents currently living in the U.S. who are at least 18 years old and have a valid Social Security number.1
Who can be named1
- A trust
A trust cannot be named as beneficiary, because Upgrade does not add beneficiaries to checking or savings accounts.1
What Upgrade's agreement says about beneficiaries1
- Joint accounts
Joint ownership is set when an account is opened. Rewards Checking Preferred, Performance Savings and Premier Savings are available as joint accounts for two account holders.2
A joint account holder is named on the application: "You cannot add a joint account holder to an existing checking or savings account."2
Only one joint Rewards Checking Preferred and one joint Premier Savings account are permitted. When both are opened, the joint holder must be the same person.3
Everyday Savings accounts have a single account holder only.4
Not in Upgrade's published guidance3
- What the owner provides to name a beneficiary
- A procedure for holding an account in a trust
- Which trust documents it accepts
Sources
Data sourced from Upgrade primary sources (30 pages reviewed). How we research.
Download these Upgrade instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Upgrade primary sources. Bring it to the branch or keep it beside the phone.
Upgrade estate support
Customer Support
Phone
Checking & Savings
Account Management
Personal Loan application by phone
Application in progress
Debit Card, Checking and Savings disputes
Telecommunications Relay Services
Hours
Mailing address
Website
Estate requests go through general customer service.
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