During the enrollment process to open a Planned-Spend Account (“Planned-Spend Account”), we’ll ask you to designate up to three primary beneficiaries that can receive your benefits. If you were to pass away, each beneficiary could elect to either a) continue receiving the monthly payouts via check or ACH from your Planned-Spend Account or b) liquidate their portion of your Planned-Spend Account. If you designate more than one primary beneficiary, the remaining benefit of your Planned-Spend Account will be split equally between beneficiaries, unless otherwise directed.
Relay customers can also establish up to two contingent (secondary) beneficiaries, who would continue receiving the monthly payouts of your Planned-Spend Account in the event that your primary beneficiaries have already died at the time of your own death. To modify your Planned-Spend Account primary or contingent beneficiaries, please sign and complete the Beneficiary Form in your Document Center when you log into your account at www.relayrewards.com.
Note: any outstanding balance on a customer’s Relay Card will be sent to his/her estate, not to beneficiaries, and no further cash back rewards will be earned. A Relay Card is non-transferrable. Please refer to the Cardholder Agreement for more information regarding the terms and usage of your Relay Card.