Fee charged by banks for transferring the account of a deceased person to the heirs. In Germany, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) intervened after complaints to the effect that very high charges exceeding the settlement costs incurred were made on this occasion. – See termination fee, bank charges, early termination compensation. – Cf. BaFin Annual Report 2005, p. 195 (disputed cases).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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