Yes, in most cases, you can designate payable-on-death (POD) beneficiaries for your online savings accounts.

 

You may further increase the degree of FDIC insurance by adding additional beneficiaries (and in some cases, also help keep funds out of probate by adding POD designations) directly at each bank.

 

Here are the specifics bank-by-bank:


Max Checking: Allows you to add an individual or trust as a beneficiary. To do so, call LendingClub Bank Customer Support at 1-800-242-0272.

 

Marcus by Goldman Sachs: You can add an individual as a beneficiary. When you login, click on Profile/Preferences and then Beneficiary Management. Marcus by Goldman Sachs does not presently support trusts as beneficiaries.

 

UFB Direct: You can add one or more beneficiaries via UFB Direct online banking. To do so, click the "Accounts" button in the top banner, select the account you want to update, click the "Account Details" tab, and then click the "Add a Beneficiary" link on the right-hand side.


LendingClub Bank: Allows you to add an individual or trust as a beneficiary. To do so, call LendingClub Bank Customer Support at 1-800-242-0272.


Quontic Bank: Allows you to add an individual as a beneficiary. To do so, call Quontic Customer Care at 1-888-575-8677.


Customers Bank: Allows you to add an individual or trust as a beneficiary. To do so, call Customers Bank Customer Service at 1-855-398-8159.


Sterling National Bank: Allows you to add an individual as a beneficiary. To do so, call Customer Support at

1-877-629-5877.


Barclays: Allows you to add beneficiaries, including a trust as a beneficiary. Once you’ve opened your account, click on “Beneficiaries and owners” and then click “Add a beneficiary."

 

Ally Bank: Click the 3 horizontal bar menu icon in the upper right hand corner of your screen, then click on Account Services, then Beneficiaries, then Add a new beneficiary. The form appears to be for an individual, but if you prefer to use a trust as beneficiary you can abbreviate the name of the trust on the First Name and Last Name lines and list the date the trust was formed where they ask for Date of Birth.

 

American Express Personal Savings: You can add an individual as a beneficiary. Upon login, click on My Profile, then Manage Beneficiaries, then Add Beneficiary. Amex does not presently support trusts as beneficiaries.

 

We suggest that you consult your attorney or qualified estate planning professional before establishing a trust account or designating an account as a POD account. Please contact Max Member Services if you have further questions regarding support for trust accounts.