What Does Pod Mean On A Bank Statement?

Payment on Death (POD) beneficiaries are people or groups of people who are not the account owner or co-owner who have been designated by the account owner(s) to receive the balance of funds when the account’s last surviving owner passes away. They can be individuals, non-profit organizations, corporations, or trusts, as well as entities other than the account owner or co-owner.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top
Adblock
detector