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What is a beneficiary?

A beneficiary is the person, trust or company you designate to receive the funds in your account in the event of your death. This is usually a family member like a spouse, son or daughter, or someone close to you. It can be charity or trust setup for your children.

We must designate a beneficiary for you during account opening. The beneficiary can be changed later, after logging in from: Settings -> Accounts -> Beneficiary

The following information is required to designate a beneficiary:

  • Full Name
  • Address
  • Birthday
  • Citizenship
  • SSN

Beneficiaries do not need to be a resident of the USA.