Joint deposit with ex query

LegacyUser

Not sure what other category on boards this might be better suited in but it is a personal/relationship related issue for me.

I'm joint holder of a long term savings bond with An Post with an ex. It is the only joint financial complication we had - thankfully.

I have the paperwork. It will soon be time to cash it in. It is not for a big amount but since I put all the money in in the first place, and with every penny handy these days I don't really want to write it off or let it lie for another few years.

We broke up acrimoniously and I really would rather not have to get in touch with my ex and I really really don't want to have to meet up for signatures or payment or cashing cheques if at all possible, especially as they are many miles away now. It's taken a long time to recover from all kinds of related issues and I don't want to be drawn back in any way.

If I got forms signed (by post) does anyone know offhand whether An Post would repay the due amount in 2 cheques for half the amount, one of which I could just forward to my ex and be done with it?

I feel sure people here an An post have dealt with circumstances such as these. It would be nice to have some idea how this could be handled.

magneticimpulse

Ive never dealt with joint An Post account. However I did have a joint Bank account with my ex housemate. This was easy as we both had debit cards and could just redraw the money from the account. Although we never closed the account. For this I know you need the signatures of both parties.

So can you take the cash out, can you close everything with just your name? Has your ex ever mentioned this money or do you think she forgot? Its very easy to forward cash directly into her account with her IBAN and BIC code, no matter where in the world she is. Do you have this info? If its regards money, im sure she would be delighted to give you the bank details and leave it at that. I'd definitely feel less guilty if I gave back her share of the money. How do you know she has not already contact An Post about the account?

tenchi-fan

I work in a financial instituition! So I can tell you.. you need both signatures, and the cheque will be made out to "Person A and Person B" unless your request (signed by both parties) specifically requests a cheque for 50% payable to A and the other 50% payable to B.

Bonito

Like tenchi-fan said above. But, just because the account is in two names I wouldn't want her having half if I was the one who put every penny into the account.... You shouldn't have to pay to get rid of her to be honest.

LegacyUser

Thank you all for your helpful replies. It is good to know there are some options e.g. requesting two seperate cheques.
It is a joint bond with An Post, i.e. a lump sum deposit for a fixed term - not a savings / deposit type of easily accessible account. I dont know if she has made enquires about it. Since I hold the bond, it hadn't crossed my mind but I suppose it is possible.

Yes I put all the money in and while it would be right to get it all back, her name is on it and as such she's entitled to half and I'm not going to get in to a whole other dispute about it. I just want to figure out what's the options on getting it repaid without having to bring her back into my life, if you can understand that sentiment.

If signatures on forms can be done by post and it is possible to request repayment from An Post in two seperate cheques made payable to each named person, that might be the best solution in this case.

Thank you again for all your help. It has given me options. If there are others, it would be nice to hear them too.

LegacyUser

OP here.

Thought I'd update after getting more information.
When An Post were contacted they said both parties would need to be physically present with ID in order to cash the cheque which would only be made out in both names. They do not issue seperate cheques. That's what I was told.

So back to square one, having to meet up. It's not what I want but it looks like there may not be an alternative.

up for anything

I would consult with Citizens Advice or ask a friendly solicitor for advice. It may be that if you can get a doctor's letter to say that it would be injurious to your mental health to have to meet with this person again that An Post may have to relent on the both parties being present or maybe you can authorise someone you trust to stand in for you.

tenchi-fan

up for anything wrote: »

I would consult with Citizens Advice or ask a friendly solicitor for advice. It may be that if you can get a doctor's letter to say that it would be injurious to your mental health to have to meet with this person again that An Post may have to relent on the both parties being present or maybe you can authorise someone you trust to stand in for you.

injurious to their mental health? my god.

Op, I read some of postbank's T&Cs which basically says for joint accounts either party can request withdrawal of funds by writing to their customer service centre (and not over the counter for amounts over €3000). An post will forward you a cheque by post or eft to a nominated account, and that they will not be responsible for splitting the funds. There's no point in me posting a link because it might not relate to your product.

The exception is for divorce/separation cases (they'd only know if you told them - which you're obliged to do, and they will put a freeze on the account to prevent unauthorised access). You must contact their customer service centre to find out their requirements in these cases.

But my advice is to write a letter to customer service attempting to withdraw from the plan, and get the letter signed jointly by your ex. Try to submit it with certified copies of your passports (certified by a bank manager, accountant or solicitor). Don't go into the background of your relationship, or your mental health. Just include in the letter your account number, signatures, and the line "I wish to cancel the above plan. Please forward the proceeds to my bank account 990101 12345678"

This will be the simplest way and most direct way to deal with them, and it will save you unnecessary visits to the doctor. Do not deal with a customer service rep over the phone or any counter staff.

up for anything

tenchi-fan wrote: »

injurious to their mental health? my god.

I know. It's my trying to find the right words unsuccessfully Alzheimers problem. Comes with age and too many children.

tenchi-fan

up for anything wrote: »

I know. It's my trying to find the right words unsuccessfully Alzheimers problem. Comes with age and too many children.

Sorry, I didn't mean it as a put down. I just don't think it's a good idea.

First, it's a hassle and an expense going to the doctor and chances are the doctor won't agree to it... and if he did, the op will end up with a mental illness on her medical record!

Second, the op would basically be saying "I know the rules, but I want you to bend them." It might have a small chance of working - or they might just put a hold on the account.

up for anything

tenchi-fan wrote: »

Sorry, I didn't mean it as a put down. I just don't think it's a good idea.

I'm just going on the way I feel presently. I know how much I hate having anything to do with my ex but it's unavoidable because we have children and property in common. I would do anything though to avoid seeing him if I could have that luxury.

I don't see that it would end up as a mental illness on record though. A better phrase might be, "it is not in my patient's best interests to....."

God loves a trier.

tinkerbell

Unfortunately, if you want the money then you're gonna have to meet up with him. It'll take 5 mins to meet your ex, get the thing signed and then away you go with your cheque. Meeting up with your ex for 5 mins is not gonna bring all your issues back that you mentioned in post #1 - just keep the conversation about the cheque and you'll be fine.

dudara

up for anything wrote: »

I'm just going on the way I feel presently. I know how much I hate having anything to do with my ex but it's unavoidable because we have children and property in common.

You have children with this man - then it's time to figure out some way to get on with him.

fend

From the posts, I'm gathering the OP is a male.

up for anything

dudara wrote: »

You have children with this man - then it's time to figure out some way to get on with him.

Stop jumping to conclusions! You know absolutely nothing about my situation. :mad:

Where did I say I don't 'get on' with him? I have a mantelpiece stacked with the mental Oscars I give myself for every performance both in his presence and when talking to the children about their father in his absence.