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What Happens to Money Remitted to Unclaimed Assets Authority by Mpesa, When People Die

When one die, money in their mpesa should be claimed by their next on kin as registered during enrollment to mpesa. Death is usually unplanned and one may never have disclosed their pin to their next of kin, in such a scenario. The next of kin should visit safaricom, the company which run mpesa with details of their deceased person. Here they will be helped on the way forward.

Incase that is not done, Safaricom is bound by law to submit the money to Unclaimed Financial Asset body. Here money or any asset is placed on public domain for people to claim. If still there are no claims done. An operation to sensitize the public through the media is taken. If no individual comes out to lay a claim. The government takes over and uses the assets for development and increase in tax.

It is necessary for people to notify the people they have registered their lines with us next of kin both in banks and mpesa. This easiens the burden to institutions against remitting money or other assets to the unclaimed asset body. Once a claim is done and one is registered as a next of kin. It takes a short time to have transactions done.

Content created and supplied by: Faustinejohnc2020 (via Opera News )

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