pay on death account

A bank account whose owner instructs the bank to distribute the account’s balance to a beneficiary upon the owner’s death.

• Unlike a joint-and-survivorship account, a pay-on-death account does not give the beneficiary access to the funds while the owner is alive. — Abbr. POD account.

— Also termed pay-on-death bank account.

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词条贡献者

双语律师Howard，毕业于法国一流的高级翻译学院，擅长翻译各类与欧美消费者隐私法规相关的法律文件。