When you lose someone close to you

To prevent unauthorised activity banks usually place a stop on accounts held individually in the name of the deceased after they are notified of their death. This generally means:

• Cards will stop working
• Direct debits or recurring transactions will not be processed
• Internet banking and app access will be deactivated
• Most transfers or withdrawals cannot be made

Deposits – We will generally continue to accept deposits into the deceased’s accounts until they are closed.

Direct debits - On request, we can provide information about existing direct debits to the authorised representative of the Estate.

Interest – Where applicable, we will continue to pay interest in accordance with the product terms and conditions until an account is closed.

Term Deposits – If the customer held a Term Deposit individually in their name the Authorised Estate Representative can talk to our Bereavement Services team about the options available.

Statements – The Authorised Estate Representative can request information about any accounts held, including statements.

Funds in joint savings or transaction accounts, including term deposits, generally do not form part of the deceased’s Estate. Instead, they will become the property of the joint account holder.

Names on the account – After we receive the documents we need from the Authorised Estate Representative, we will generally transfer the account into the name of the joint account holder, in accordance with product terms and conditions.

Debit Cards – The deceased person’s debit card will be cancelled and should be securely destroyed. The joint account holder can continue to use their own debit card.

Personal credit cards in the name of the deceased person must not be used after the account holder has died and should be securely destroyed.

To prevent unauthorised activity banks usually place a stop on credit cards after they are notified of a customer’s death. This generally means:

• Cards will stop working. This will affect you if you were an additional cardholder on the deceased customer's credit card account.
• Recurring transactions will not be processed
• Internet banking and app access will be deactivated
• Most transfers or withdrawals cannot be made

Additional cardholders – If you are an additional cardholder on a credit card account held by the deceased, you must not use the additional card and it should be securely destroyed.

Amounts owing – The Estate is generally liable for outstanding amounts owing on the credit card account. We send the Authorised Estate Representative details of amounts owed and will advise them of next steps, including what we need to close the account. Sometimes amounts owing on credit card accounts will be paid out of other accounts that the customer held with us.

Recurring transactions – On request, we can provide information to the Authorised Estate Representative about existing recurring transactions on the ANZ personal credit card account held by the deceased.

We can provide the Authorised Estate Representative with details of home loan accounts held individually by the deceased person.

Home Loan repayments – Usually, repayments on a home loan must continue after the death of an account holder.

Home Loans held individually - The Estate may need to make alternative arrangements if repayments were coming from another account that has had a stop put on it. Our Bereavement Services team will discuss future arrangements for the home loan with the Authorised Estate Representative. 

Joint home loans – Usually the joint account holder will continue making repayments on the joint home loan while the Authorised Estate Representative works with our Bereavement Services team to discuss future arrangements for the loan. As a joint account holder, you should our Bereavement Services team if you are experiencing financial difficulty.

We can provide the Authorised Estate Representative details of any amounts owing on personal loans.

Amounts owing – The Estate is generally liable for outstanding amounts owing on personal loans. We send the Authorised Estate Representative details of amounts owed and will advise them of next steps, including what we need to close the account. Sometimes amounts owing on personal loans will be paid out of other accounts that the customer held with us.

Joint loans – Usually the joint borrower will continue making repayments on the joint personal loan. As a joint account holder, you should contact our Bereavement Services team if you are experiencing financial difficulty.

We can provide the Authorised Estate Representative with details of any locked boxes, safe deposit boxes or sealed packets we are holding on behalf of the deceased. We’ll also advise what documentation is needed to access or claim anything held in safe custody.

If you believe the deceased held any other ANZ related products or services provided by a third party, please contact the relevant organisations listed in Additional Contacts.

How business accounts are handled will depend on how the business is structured and the deceased person’s involvement in the business. Our Bereavement Services team can discuss next steps with the Authorised Estate Representative.

Special rules might apply if the deceased was a beneficiary or trustee of a trust account. The Authorised Estate Representative can talk to our Bereavement Services team about next steps.

Our Bereavement Services team can generally arrange payment for the funeral from available Estate funds before they are released if an invoice from the funeral director is provided.

Other funeral related costs, such as the wake, memorial or catering, generally cannot be paid from Estate funds.

If funeral costs have already been paid, we can usually reimburse these if provided with the tax invoice and receipt.

If there are not enough Estate funds to fully cover a funeral invoice, please contact our Bereavement Services team to work out what options are available. 

Our Bereavement Services team will explain what’s needed. In some instances, you might need to apply to the Supreme Court for Letters of Administration.

A legal document issued by the Supreme Court appointing a person to administer the Estate of a deceased person who did not leave a Will. Usually Letters of Administration are granted to the closest living relative (Next of Kin).

ANZ will generally require Letters of Administration when there is no Will and the value of Estate funds held with us (the balance of solely held accounts with us) is $100,000 or more. We might also ask for Letters of Administration in other circumstances.

A ‘Grant of Probate’ or ‘Probate’ is a legal document issued by the Supreme Court to the Executor(s) named in the deceased’s Will. It confirms that the Will attached to the Grant of Probate is the last Will of the deceased and confirms that the Executor is authorised to administer the Estate in accordance with the terms of the Will.

ANZ will generally require Grant of Probate (Probate) where there is a Will, and the value of the Estate funds held with us (the balance of solely held accounts with us) is $100,000 or more. We might also ask to see the Grant of Probate in other circumstances.

Applications for Probate or Letters of Administration need to be made through the Supreme Court in each state or territory. The court websites usually include information on how to apply. You may also wish to seek advice from a solicitor or lawyer.

Our Bereavement Services team can generally arrange for a Probate application fee to be paid from available Estate funds before they are released if an invoice is provided.

You may be asked to complete a ‘Customer Identification Process’ (CIP), also sometimes known as ‘Know your customer’ (KYC), as we work through the steps to release funds from a deceased person’s Estate and close their accounts.

We do this to ensure we are taking instructions from the right people.

Each Authorised Estate Representative may be asked to complete the Customer Identification Process.

The Process can be completed by booking an appointment at any ANZ branch. See Customer Identification Process (CIP) – Acceptable Information Documents (PDF) for more information about what you may need to take with you.

This varies depending on each Estate. However, the sooner we receive all the documentation we need, the quicker we can release funds.

An ‘Estate of’ account is often used to manage the financial affairs of an Estate after the date of death. It is opened by an Authorised Estate Representative (Administrator, Executor or Next of Kin) who uses it to gather all funds from the Estate, make any necessary payments and distribute any remaining funds to beneficiaries.

Where solicitors are handling an Estate, they may use their trust account instead.

‘Estate of’ accounts can be opened at most banks.

Before opening an ‘Estate of’ account – the Authorised Estate Representative will need to:

• apply for a Tax File Number (TFN) for the Estate – contact the Australian Taxation Office (ATO) for advice on how to do this
• have the original or a certified copy of the Death Certificate and (if there is one) the Will
• if opening an ‘Estate of’ account at ANZ, if not already completed, all Executors will need to complete ANZ’s Customer Identification Process

To open an ‘Estate of’ account with ANZ – the Authorised Estate Representative needs to

• book an appointment at their preferred ANZ branch
• go to the appointment with the Death Certificate and either the Will, Probate or Letters of Administration and ask to open an ‘Estate of’ account.