Page 64 - ITU-T Focus Group Digital Financial Services – Consumer Experience and Protection
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ITU-T Focus Group Digital Financial Services
                                               Consumer Experience and Protection



               Figure 6: Dormancy period



































               Customer death: Although several contracts discussed dormancy and subsequent treatment of the funds
               left on the account, 83 per cent of all the contracts reviewed did not address what happens to funds in the
               event of the death of a customer. Therefore, it is unclear how heirs and estate executors can access these
               funds after the death of the account owner. One way to handle this could be to allow accounts to be held
               jointly with a right of survivorship, or for the account opener to name a beneficiary on the account if this is
               permitted under local law.


               Figure 7: Customer funds at death







































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