WILLEMSTAD - The local PSB Bank must continue to pay interest even after the death of an account holder. The judge ruled on Monday. The next of kin of an account holder filed a lawsuit against the bank.
The man died in November 2021, but the certificates of inheritance were not issued to the account holder's daughter until 33 months later. The heirs requested that the balance of the account be transferred and that the savings account be closed. After several requests and at the insistence of Stichting Consumenten Belangen Curaçao (foundation for consumers interests), the balance was transferred. Because the interest accrual was stopped by PSB Bank after the death, the heirs received 2,500 guilders less.
Stichting Consumenten Belangen Curaçao argued before the court that the article in the general terms and conditions of PSB Bank, which states that the bank stops accruing interest on the day of the death of the account holder, can be regarded as unreasonably onerous. In addition, the foundation emphasized the special duty of care that banks have towards third parties. PSB Bank states that the agreement has been included in the general terms and conditions since 1905.
The judge ruled that the bank must continue to pay interest after the death. According to Maria van Os of Stichting Consumenten Belangen Curaçao, the condition will certainly have to be changed by the court decision. “Heirs of account holders of PSB Bank have been duped for so many years, probably without their knowledge,” said Van Os.