Bank asked me to add someone on my account so they could get my money if something 'happened' to me -- Does this replace a will?

So my bank asked me this when I went in to get a debit card from them -- Does this mean that if I die, they can legally go in and take all of the money from my account?

Submitted May 21, 2017 at 07:51PM by Robberbaron212 http://ift.tt/2q0nUBg