Can funds be released from my loved one’s account(s) prior to finalisation of the Estate?
Once we have been notified that an account holder has passed away, a hold will be placed on their deposit account(s). (Note: This hold will not be applied for joint account unless the account is a Line of Credit, Asset Line or Overdraft account). This means that no funds can be withdrawn from the account and all recurring payments and direct debits will be stopped. Credit payments can continue to be paid into the account if transferred from an external bank.
During this time withdrawals cannot be made except for approved Just Debt or Funeral payments. Please note that once the hold has been placed on the deceased’s account this will prevent any transfers or credits into the account from another Suncorp Bank account. However, deposits from external banks can be made into the account(s) up until the account is closed.
Note: From the date of death, all Power of Attorney & Third Party signing authorities authorised on behalf of the deceased will be removed from the account.