1) Notify the Bank

Contact the bank as soon as possible to inform them of the account holder’s passing. Provide the full legal name, date of birth, and account numbers (if known). The bank may place a temporary hold or flag on the accounts to prevent unauthorized activity.

2) Inquire About the Bank’s Process

Each bank may have slightly different procedures. Ask what documents are required, how to claim funds or transfer ownership, and how to handle any automatic payments or deposits still occurring.

3) Gather Necessary Documentation

You will typically need the following documents: a certified death certificate, court-issued proof of authority (Letters Testamentary or Letters of Administration), your government-issued ID, and any other documents requested by the bank (such as a will or trust paperwork).

4) Understand the Type of Account(s)/Products & Services

Different account types are handled differently:

• Joint Account – Surviving owner becomes full owner.
• POD/TOD (Payable or Transfer on Death) – Beneficiary can claim funds with ID and death certificate.
• Individual (no beneficiary) – Becomes part of the estate; only the executor or administrator can access funds.
• Trust Account – Handled by the trustee per the trust terms.
• Power of Attorney (POA)/Authorized Signer – Authorization ends at death.
• Online Banking – When an online banking customer dies, the account is secured and online access is cancelled under their name and credentials. If the account is held jointly, the joint owner should have their own login credentials so they can continue to access their accounts online.
• Debit Card(s) – Debit Card(s) are marked as closed when a customer dies.
• Safe Deposit Box – When someone dies, a Safe Deposit Box can only be accessed by a joint owner with the proper key to access the box. Deputy/Authorized Signer authority ceases at the time of the owner’s death. Access to a Safe Deposit Box after an owner’s death would require a death certificate and proof of authority, such as Executor papers and a valid government-issued ID.

Important Notice: The contents of your Safe Deposit Box are not insured against loss by the financial institution or FDIC. For your protection you may wish to obtain your own box content insurance from an insurance company of your own choice. You should also keep a complete, up-to-date list and description of all property stored in your safe deposit box. This inventory and any other proof of ownership documents should be stored in another location, other than your safe deposit box.

5) Negotiating Checks Payable to the Deceased

Checks payable to the deceased must be deposited into an Estate account. The executor or administrator should endorse the check as: “John Doe, deceased, by Jane Smith, Executor of the Estate of John Doe.”

What if I don’t plan to open an Estate bank account:

You could request the issuer of the check to reissue a new check payable to you. You could go to the Probate Court & they offer a Simple Release form ($5.00 fee) for you to complete. You also need to supply the court with a copy of the Death Certificate. The information is reviewed and if approved, the judge will sign off on the Simple Release which allows you to bring the form to the bank which authorizes them to deposit/negotiate the check(s) into your account.

6) Who Can Withdraw Funds

Only the executor or administrator can withdraw funds from the deceased’s individual accounts. Joint account holders or named beneficiaries may access their portion according to ownership rules.

7) Establishing an Estate Bank Account

Open an estate account when the deceased owned assets are solely in their name and funds must be collected to pay debts or distribute to heirs. You’ll need a death certificate, court documents proving authority, and an estate EIN from the IRS.

8) FDIC Coverage for Deceased Accounts

FDIC continues to insure the deceased person’s accounts as if they were still alive for six months after death. This grace period allows time to restructure or transfer funds without losing FDIC protection.

9) Beneficiary Claims

If you are a named beneficiary (POD/TOD), bring a valid ID, and a certified death certificate. The bank will verify your identity and release or transfer the funds.

10) Accounts with No Beneficiary

If there is no named beneficiary, the funds become part of the estate and can only be accessed by the court-appointed executor or administrator after probate documents are presented.

11) Social Security Deposits After Death

Any Social Security payments made after the date of death must be returned to the Social Security Administration (SSA). The bank will automatically return them once notified. Family or the estate should also contact SSA to report the death and adjust benefits if needed.