Upon notification all accounts in the deceased’s sole name will be frozen to prevent unauthorised access. All facilities such as cards, cheque books and internet banking access will be cancelled.
Any account in joint names will not be frozen and existing direct debits and credits on joint accounts will continue. These accounts will be transferred into the name of the surviving joint account holder once we have received the required documentation.
Credit Cards will be cancelled and any additional cardholder will be removed.
Once all documentation is received, Term Deposits will be released after 31 days as part of the estate settlement. Any fees and charges for early withdrawal are waived and interest paid up until account closure date.
With loan products, circumstances vary from case to case. Loans in joint names are treated differently from those in sole names. In each case, we will advise the executor, legal personal representative and/or surviving borrower what our requirements are.
Safe custody packet agreements will be cancelled and contents can be collected by the Executor or legal representative.