Financial Institutions Requirements for Release of Funds

Requirements for payment of funeral expenses

  • ANZ Bank - Original funeral account
  • Commonwealth Bank - Certified copy of funeral account and signed withdrawal form
  • National Australia Bank - Original or certified copy of funeral account and certified copy of will
  • Westpac Bank - Original funeral account
  • St. George Bank - Original funeral account
  • Illawarra Credit Union - Original funeral account
  • IMB - Copy of funeral account, completed withdrawal form signed by executor and certified by a Justice of the Peace or a Solicitor
  • Horizon Credit Union - Copy funeral account
  • City Coast Credit Union - Copy funeral account

* All of the above financial institutions also require the death certificate or a certified copy of the death certificate

Requirements for the transfer of a joint account into the surviving account holders name

  • ANZ Bank - Original Death Certificate
  • Commonwealth Bank - Certified copy of death certificate and survivor to attend branch to update their signature listing.
  • National Australia Bank - Certified copy of death certificate and survivor to attend branch to update their signature listing.
  • Westpac Bank - Certified copy of death certificate and survivor to attend branch to open a new account and transfer funds.
  • St. George Bank - Proof of death document eg. Death certificate, medical certificate, funeral invoice
  • Illawarra Credit Union - Certified copy of death certificate and completion of Credit Union statutory declaration
  • IMB - A transmission of permanent shares/joint accounts-sales centre checklist form signed by the surviving member, all cards and passbooks in the name of the deceased and a certified copy of death certificate and will (if any),
  • Horizon Credit Union - Certified copy of death certificate and will and completion of a statutory declaration
  • City Coast Credit Union - Certified copy of death certificate and completion of Credit Union statutory declaration

Probate Requirements

  • ANZ Bank Certified copy of Probate or Letters of Administration, written authorisation to close account and identification of executor to comply with legislation.
  • Commonwealth Bank Certified copy of Probate or Letters of Administration
  • National Australia Bank Certified copy of Probate or Letters of Administration, certified copy of death certificate, signed and witnessed Letter of Direction, Identification Form and original passbooks for cancellation.
  • Westpac Bank Certified copy of Probate or Letters of Administration and executor to attend branch to complete identification checklist or complete an "acceptable referee" form.
  • St. George Bank Certified copy of Probate or Letters of Administration
  • Illawarra Credit Union Certified copy of Probate or Letters of Administration
  • IMB Certified copy of Probate, withdrawal forms signed by executors and certified by a Justice of the peace or a Solicitor and all cards and passbooks in the name of the deceased to be returned.
  • Horizon Credit Union Certified copy of Probate or Letters of Administration
  • City Coast Credit Union Certified copy of Probate or Letters of Administration

Requirements if probate is not being obtained

  • ANZ Bank The documents required are determined by the Bank depending on the circumstances of each case but include a certified copy of the death certificate and will, an indemnity, authority to close account, deceased estate statement of position and completion of 100 point identification
  • Commonwealth Bank The documents required are determined by the Bank depending on the circumstances of each case
  • National Australia Bank Certified copy of death certificate and will, signed and witnessed Release of Funds declaration and all documents requested in the declaration, signed and witnessed Letter of Direction, Identification form, original passbook for cancellation and Consent to Release.
  • Westpac Bank A statutory declaration and Indemnity form to be completed by the executor.
  • St. George Bank Certified copy of will and death certificate with a signed indemnity by all executors
  • Illawarra Credit Union The documents required are determined by the Credit Union depending on the circumstances of each case
  • IMB Certified copy of death certificate, Claim for Deposits – Without Probate or Letters of Administration form and Withdrawal forms signed by the executors and witnessed by a Justice of the Peace or Solicitor and cards and passbooks of the deceased to be returned.
  • Horizon Credit Union Certified copy of death certificate and will and completion of a statutory declaration
  • City Coast Credit Union Certified copy of death certificate and will and completion of a statutory declaration

Monetary limit for which probate is required

  • ANZ Bank $50,000.00
  • Commonwealth Bank $50,000.00
  • National Australia Bank $50,000.00
  • Westpac Bank $75,000.00
  • St. George Bank $50,000.00
  • Illawarra Credit Union $15,000.00
  • IMB $15,000.00
  • Credit Union Australia $15,000.00

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