Online bank accounts & subscriptions

Our finances and financial information is increasingly becoming digitised and managed online. Below is a list of the popular online accounts and subscriptions used by the general public. It is important that you understand your rights and the terms of service entered into with each provider.

Types of online accounts

  • Online banking
  • Online only saver bank account
  • Online bank accounts
  • Online stores (Etsy etc)
  • Online store subscriptions (Amazon Prime etc)
  • PayPal (especially if you keep credit located in your PayPal account / sell goods on eBay etc)
  • Oyster card / travel subscriptions
  • Online investment services (stock exchange, foreign currency, etc).
  • Online gambling services
  • Online gaming subscriptions (Xbox etc)
  • Online entertainment (Sky, Netflix etc)
  • Newspaper subscriptions (online and offline)
  • Cryptocurrencies (like Bitcoin Ethereum) and the wallets used to hold the currencies (like Coinbase, eTorro etc)
  • Insurance and prepaid cover (for example insurance documents, funeral plans etc)
  • Financial stocks and shares

Getting your financial affairs in order

Making plans for your finances and financial accounts might help reduce the emotional and administrative burden experienced by your loved ones after your death.

By getting your financial accounts in order you may reduce the amount of inheritance tax and reduce the likelihood of money being lost or misspent. This might help ensure that your money and assets is allocated in accordance with your wishes.

The financial cost of dying

It is important that you think about the cost of dying. We recommend that you document your funeral wishes and speak about your wishes with those you care about. Once documented you may want to ask a funeral director to provide you with a quote for the funeral you have planned. If you do not want to do this simply use Google (or your preferred browser) to find out the average cost of a funeral in your country. If I lived in Wales I might search for “What is the average cost of a funeral in Wales?”. *Please be aware that the cost of a funeral might not include a headstone, the plot where someone is buried, the wake afterwards and taxes incurred.

Have you put any money aside for your funeral?


 Data attained from the Digital Death Survey

Financial checklist

  • Apply for any outstanding benefits or money that is owed to you
  • Close any unused bank accounts
  • Pay any outstanding bills (taxes)
  • Close gym memberships, any other lifestyle monthly direct debits
  • Consider changing your monthly mobile phone tariff to Pay as You Go (PAYG).
  • Pass on the keys for any safe deposit boxes (if you are lucky enough to have one)
  • Pay any credit cards, loans, unpaid tax returns or unpaid bills.
  • Think about closing premium software subscriptions (like Linkedin) subscriptions and how you plan to pay for your websites hosting etc once you have died.
  • Once you have considered the financial implications of the areas highlighted above tell someone or include directions as to how you would like them addressed in your will.
  • Ways to reduce the cost
  • In many countries such as in the UK and the USA the ‘cost of dying’ is increasing ahead of the rate of inflation. There are many ways in which we can reduce the ‘cost of dying’ and the outlay required for a funeral. These include arranging your own funeral and obtaining financial support. You may also want to consider requesting that money is donated towards the costs of the funeral as an alternative to flowers
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