How to Close Bank Accounts After Death: A Step-by-Step Guide

Why Closing Bank Accounts Matters

When a loved one passes away, their bank accounts do not simply disappear. They remain open, potentially accruing fees, and their funds become part of the estate that needs to be settled. Closing these accounts -- or transferring them to the appropriate parties -- is one of the most fundamental tasks in the probate process.

How this works depends on the type of account, whether anyone else was on it, and your legal relationship to the deceased. This guide walks you through the entire process so you know exactly what to expect.

Step 1: Determine What Type of Accounts Exist

Before you contact any bank, it helps to understand the three main categories of bank accounts and how each one is handled after death.

Joint Accounts (With Rights of Survivorship)

If the deceased held a joint account with another person -- most commonly a spouse -- the surviving owner typically becomes the sole owner automatically. The account does not go through probate. The surviving owner simply needs to notify the bank, provide a certified death certificate, and request that the deceased's name be removed.

Important note about FDIC coverage: Joint accounts normally receive up to $500,000 in FDIC insurance protection. When one owner dies, that coverage drops to the standard $250,000 for a single owner. However, the FDIC provides a six-month grace period at the higher coverage level, giving the surviving owner time to restructure deposits if the balance exceeds $250,000.

Payable-on-Death (POD) Accounts

A payable-on-death account (sometimes called a transfer-on-death or Totten trust account) has a named beneficiary who inherits the funds directly when the account holder dies. POD accounts bypass probate entirely. The named beneficiary simply visits the bank with a certified death certificate and valid photo identification to claim the funds.

This is one of the simplest account types to handle after death, and it is worth checking whether your loved one set up POD designations on any of their accounts.

Sole-Owner Accounts (No Joint Owner, No POD)

This is where things get more involved. A bank account held solely in the deceased's name, with no joint owner or beneficiary designation, becomes part of the probate estate. The bank will freeze the account as soon as it is notified of the death, and no one can access the funds until the executor or administrator provides the proper legal documentation.

To access or close a sole-owner account, you will typically need:

• A certified death certificate
• Letters testamentary (if there was a will) or letters of administration (if there was no will), issued by the probate court
• Your valid government-issued photo identification
• The account number or recent account statements

If the estate is small enough to qualify for simplified probate procedures in your state, you may be able to use a small estate affidavit instead of full letters testamentary.

Step 2: Gather Required Documents

Regardless of which bank you are dealing with, you will need the following documents prepared before making contact:

1. Certified death certificate -- Order at least 10 to 15 copies. Banks typically require an original certified copy with a raised seal, not a photocopy. Some banks will keep the copy you submit.
2. Letters testamentary or letters of administration -- These are issued by the probate court and prove you have the legal authority to act on behalf of the estate. If you have not yet obtained these, see our guide on the probate process for how to get started.
3. Your photo identification -- A valid driver's license or passport.
4. The deceased's account information -- Account numbers, recent statements, or any correspondence from the bank.
5. The will -- Some banks request a copy of the will, though not all require it.
6. Affidavit of domicile -- Certain banks or states require this document, which confirms where the deceased lived at the time of death.
7. EIN for the estate -- If you plan to open an estate account to consolidate funds, you will need an Employer Identification Number (EIN) from the IRS, which you can obtain online for free.

Step 3: Contact the Bank

Once you have your documents assembled, it is time to reach out. Here is what to expect from the three largest U.S. banks, along with general guidance that applies to most financial institutions.

Chase

• Estate Services phone: 1-866-926-6909, Monday through Friday, 8:00 a.m. to 7:00 p.m. Eastern
• In-branch: You can also schedule an appointment at a local branch
• Chase will freeze accounts upon notification of the death. You will need to provide a certified death certificate, letters testamentary or letters of administration, and valid identification. Chase may also request the EIN for the estate if you are transferring funds to an estate account.

Bank of America

• Estate Services phone: 1-888-689-4466, Monday through Friday, 9:00 a.m. to 8:00 p.m. Eastern
• In-branch: Appointments available at local branches
• Bank of America has a dedicated Signature Services team for estate matters. They may require a broader set of documents than some other banks, including the last will and testament, a formal trust document (if applicable), birth or marriage certificates, proof of any legal name change, and court-issued letters testamentary or letters of administration. They also accept letters of appointment or certification of appointment, depending on your state's terminology.

Wells Fargo

• Estate Care Center phone: 1-888-790-7980, Monday through Friday, 8:00 a.m. to 8:30 p.m. Eastern
• In-branch: Appointments available at local branches
• Wells Fargo provides an estate care checklist to help executors understand what documents they need. Like the other major banks, they require a certified death certificate, proof of your authority (letters testamentary or letters of administration), and your valid identification.

Other Banks and Credit Unions

For regional banks, community banks, and credit unions, the process is similar. Call the bank's main customer service line and ask to speak with their estate or trust department. Smaller institutions may not have a dedicated department, but they will have a process in place.

Step 4: Decide What to Do With the Funds

Once the bank verifies your authority, you generally have two options:

Option A: Close the Account and Transfer Funds

You can request that the bank close the account and issue a check payable to the estate, or transfer the funds directly to an estate bank account. This is the most common approach, especially when there are multiple accounts to consolidate.

Option B: Retitle the Account

In some cases, particularly with joint accounts or POD accounts, the bank will retitle the account in the surviving owner's or beneficiary's name rather than closing it. This can be useful if direct deposits (such as a spouse's Social Security benefits) are still coming into the account.

Common Complications and How to Handle Them

Automatic Payments and Direct Deposits

Before closing any account, review the statements for recurring automatic payments (utilities, insurance premiums, subscriptions) and direct deposits. You will need to:

• Cancel or redirect automatic payments to avoid missed bills
• Notify any entity that was making direct deposits into the account (such as pension funds or annuity providers)
• If the deceased was receiving Social Security benefits via direct deposit, notify the Social Security Administration at 1-800-772-1213

Outstanding Checks

If there are checks that have been written but not yet cashed, the bank may need to honor them or you may need to address those obligations from estate funds. Discuss this with the bank before closing the account.

Safe Deposit Boxes

Many people who have bank accounts also have safe deposit boxes at the same institution. If the deceased held a safe deposit box, you will need the same legal documentation to access it. In some states, the box must be inventoried in the presence of a bank officer or notary before the contents can be removed.

The Bank Cannot Find the Account

If you believe the deceased had an account but cannot locate statements or account numbers, you can check with individual banks using the death certificate. You can also search for unclaimed property through your state's unclaimed property office or the FDIC's BankFind tool.

Debts Owed to the Bank

If the deceased had a loan, credit card, or line of credit with the same bank, the bank may attempt to offset the loan balance against the deposit account. This is known as the bank's right of setoff. As executor, you should be aware of this possibility and discuss it with the bank before requesting account closure.

A Note About Timing

There is no single deadline for closing bank accounts after death, but it is wise to notify the bank promptly for several reasons:

• Preventing fraud: Once a death becomes public knowledge (through obituaries or public records), the accounts may become targets for identity theft or fraud.
• Stopping fees: Monthly maintenance fees, overdraft fees, and other charges will continue to accrue on an active account.
• Creditor claims: As part of the probate process, the executor needs to account for all estate assets. Knowing the exact balance at the date of death is important for the estate inventory.

In general, most executors notify banks within the first week or two after death, even if they do not yet have the legal documents to close the account. The bank will freeze the account to protect the funds, and you can return with the proper paperwork once it is available.

Step 5: Keep Records of Everything

Throughout this process, keep detailed records of:

• Every communication with the bank (dates, names of representatives, reference numbers)
• Copies of all documents you submit
• The final account balance and the date the account was closed
• Where the funds were transferred

These records will be needed when you prepare the estate accounting for the probate court and for the final distribution to beneficiaries.

How SwiftProbate Can Help

Closing bank accounts is just one piece of the larger estate settlement puzzle. SwiftProbate generates a personalized task list based on your loved one's specific assets, state laws, and circumstances. Instead of piecing together information from multiple sources, you get a clear, organized roadmap that tells you exactly what needs to happen and in what order -- including which documents to gather, which institutions to contact, and what deadlines to watch for.