How to manage a Suncorp Bank account when someone passes away
How to manage a Suncorp Bank account when someone passes away
Helping you during a difficult time
The loss of a family member or friend can be an incredibly difficult time and dealing with their finances may be the furthest thing from your mind. We’re here to help make it as simple as possible.
On this page you’ll find a brief overview of what you may expect from us when managing the banking affairs of someone that has recently passed. For more detailed information, and to understand what steps you may need to take, please refer to our Guide to Managing a Deceased Estate (PDF, 182KB).
What does deceased estate mean?
An estate comprises of all the assets and liabilities that belong to the deceased. We’ll help you with any bank accounts, mortgages and other debts that the deceased holds with Suncorp Bank.
It's important to let us know
The easiest and quickest way to inform us is by completing our online notification form. If you prefer, you can also complete and return the Deceased Notification Form (PDF, 64KB) using the contact details below.
Before you start, you’ll need:
- details of the account(s) held by the deceased (if known)
- the date of the deceased’s birth and death
- your contact details and relationship to the deceased.
What happens after you contact us
As soon as we receive your notification, we'll place a hold on all account(s) that are in the sole name of the deceased*. At this point you won’t be able to withdraw any funds from the account(s), except for funeral expenses and specific types of debt which Suncorp Bank can organise on your behalf. Additionally, you won’t be able to credit the account(s) from another Suncorp Bank account, but you can still make deposits from external banks up until the account is closed.
We’ll review the account(s) and advise what additional documentation is required. Before we’re able to close the accounts and release funds, you’ll need to complete and return the following form:
We may also ask for additional documentation, for example:
- formal identification for all Executors/Administrators
- Proof of Death
- a certified copy of the deceased's Will.
Once we have the required documentation, we’ll provide a letter summarising the account(s) held by Suncorp Bank within 14 days.
To find out about required documentation and what you can expect next, please read our Guide to Managing a Deceased Estate (PDF, 182KB).
Preparing for the finalisation of banking affairs
Once we receive all required documentation, and upon the instructions of the executors, administrators and/or beneficiaries, we’ll close all accounts and release the funds.
Each estate is different. Some estates will take a short amount of time to finalise, others will be more complicated and may take longer.
Frequently Asked Questions
If you need more support, our Guide to Managing a Deceased Estate (PDF, 182KB) details the process and documentation you’ll need.
Please note that the below information is of a general nature only and not to be taken as legal advice. We recommend that you seek independent legal advice for your specific circumstances.
Once we’ve placed a hold on the deceased’s account(s) you’ll only be able to make withdrawals for funeral expenses (including headstones) and approved debts. These may include:
- hospital or medical expenses accrued up to 6 months prior to the deceased’s passing
- outstanding debts owed to Federal, State, Local Government, Semi-Government or Public Utilities (e.g. telephone and electricity) accrued before the deceased’s passing.
- rates and insurance premiums in the deceased’s name (e.g. Home, Contents or Vehicle Insurance).
- partially paid shares
- any fees for Probate costs when presented as an itemised invoice on a company letterhead. Unfortunately, we can’t pay for any legal fees incurred during this process.
If the deceased’s Credit Card or Home Loan was jointly linked with you, the responsibility for that debt passes on to you.
If the Credit Card or Home Loan was held in their name solely, the person authorised to act on behalf of the estate will need to contact us to help with next steps.
All outstanding loan repayments must continue until the loan is repaid. We recommend that you seek legal guidance before you consider making any voluntary repayments while the estate is being finalised.
Should you have any concerns about meeting repayments we can provide financial assistance. Find out more about how to submit a request for assistance.
As the loan will not cease upon death, it may need to be refinanced. To discuss your options and for more information, please contact Customer Support.
It depends on the type of account. For information about the process for specific account types please refer to our Guide to Managing a Deceased Estate (PDF, 182KB).
If a child is 11 or under and a Custodian/Adult on the account passes away, the funds will not form part of the estate and will be held in the child’s account. A hold will be placed on the account to limit access until the Custodian/Adult is replaced on the account. If the child is 12 or over, the deceased custodian/adult will be removed from the account and the child will become the primary account holder. Personal Term Deposits must continue to be held by at least one customer over the age of 18.
No debits will be permitted once a hold has been placed on the account. We will provide you with a list of all recurring payments and direct debits for each deposit account(s). This list will be mailed to the authorised person or Next of Kin for the Estate. We will assist you with handling any direct debits on the account, but you can also contact the merchant. For any recurring payments the authorised party will need to contact the providers to make alternative arrangements (this includes cancelling the authority on any regular debit transactions).
We’ll inform National Australia Bank Limited (NAB) on your behalf. NAB will then contact you directly if you’re the authorised party and advise on what the next steps are for any debt attributed to the account(s).
*The hold is not applicable for Joint Accounts unless the account is a Line of Credit, Asset Line or Overdraft account. These accounts will be changed into the name of the surviving account holder once Proof of Death is provided.
⌃We require you to complete the email consent section on the Deceased Notification Form (PDF, 64KB) before we can send you any information and/or documentation electronically.
Separate teams within Suncorp Bank deal with different products and these other teams may contact you separately for clarification or extra information as required.
National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) is the credit provider and issuer of Suncorp Clear Options Credit Cards.