Support for Deceased Estates

To prevent unauthorised access, we'll freeze your loved one's accounts, deactivate any associated debit or credit cards. Once this is done, these cards won't be functional, and existing direct debits will be stopped. However, some regular payments linked to the card may still process if a service provider doesn’t seek authorisation from the Bank beforehand.

It's crucial to review the account and cancel any regular payments linked to the debit card or direct debits. To do this, you’ll need to contact the service provider(s) directly. We can provide authorised parties with a list of the regular payments on your loved one’s card as well as copies of past statements. We encourage you to review these statements for any regular payments that may have been set up.

Any outstanding balance on an existing credit card will be settled using funds from existing savings or transaction accounts, following the product’s terms and conditions. If the deceased person was the primary cardholder, the additional cardholder’s card will be automatically cancelled.

Your loved one’s accounts can still receive direct credits until they’re closed, but you won’t be able to transfer money from these accounts (unless you're a joint account holder).

To deposit a cheque in your loved one’s name, you’ll need to visit your local branch or send it to us via mail PO Box K237 Haymarket NSW 1240.

Access methods including Internet Banking and the App will also be removed.

For term deposits held solely in your loved one’s name, we can release the funds before the maturity date as part of the Estate settlement process. We will waive all fees and charges for early withdrawal and ensure that any interest accrued up until account closure is paid out.

For home loans and personal loans, we will cease all account activity and access. Interest will continue to accrue throughout the settlement process. We may also suspend any available redraw facility until we've conducted a thorough financial assessment and reviewed the accounts.

It is advisable to seek legal advice before making any voluntary repayments during this period.

If the home or personal loan is in joint names, the surviving borrower can continue to make repayments until the loan term ends and the balance is settled. Please see our Joint Accounts section below for more information.

For accounts held solely in the name of the deceased, access will be restricted. We will work with the Estate Representative to explore options for using any funds in deposit accounts for payments.

While the Estate is responsible for maintaining any loan repayments, please contact us at 1300 36 2000 if you or your solicitor have concerns about meeting the minimum monthly repayments.

Once the Estate is finalised, the accounts will be closed.

If you hold a joint savings account with the deceased, you will still have normal access for withdrawals and deposits. Upon receiving a certified copy of the death certificate, the joint account will be transferred to the surviving joint account holder's name according to the product's terms and conditions.

Any personal or home loan(s) must still be maintained after the borrower passes away, and insurance must be kept up to date until the loan balance is paid out.

Unless you intend to sell the home or pay off the loan using superannuation or insurance, you may be able to transfer the Certificate of Title to the surviving loan holder(s). The loan will remain in joint names until the Estate is finalised, either through the property's sale or the transfer of the loan into the surviving borrower's name.

While the surviving borrowers are responsible for maintaining the loan repayments, please contact us immediately at 1300 36 2000 if you or your solicitor have any concerns about meeting the minimum monthly repayments.

If your loved one had a self-managed superannuation fund (SMSF) account, it will be managed separately from their personal bank accounts. The Executor of the SMSF trustee's Estate does not automatically become the trustee of the SMSF upon the deceased's passing.

To determine whether the Executor of a Deceased Estate succeeds the deceased as a trustee of the SMSF, you or your solicitor should refer to the SMSF's trust deed. If the SMSF trust deed does not clearly authorise the Executor of a deceased individual SMSF trustee to act as the SMSF trustee or handle trust assets, we cannot provide any information or documents related to the SMSF accounts to that Executor.

Statements and documents regarding the SMSF account can only be provided to authorised representatives of the SMSF. This may include surviving SMSF trustees in the case of SMSFs with joint trustees.

Business transactions, including cheques, periodic payments, or direct debit authorities, may be temporarily suspended.

To continue critical business payments, such as wages or bills, please notify us immediately. Payment processing will require written consent from an Authorised Estate Representative(s) or, for some businesses, consent from:

• A single director (for companies with up to two directors), or at least two directors (for companies with three or more directors)
• The chairman, secretary, or treasurer
• A trustee
• A single director for the trustee (for trusts with up to two directors), or at least two directors for the trustee (for trusts with three or more directors)

You can submit invoices and bills for payment by:

• Emailing us at deceased@unitybank.com.au
• Mailing them to PO Box K237 Haymarket NSW 1240

For in-person submissions, please visit your nearest branch.

As a security measure, we will deactivate any debit and credit cards linked to the deceased's business accounts to prevent their unauthorised use. While some regular payments will cease, others may continue. We can provide you with a list of the regular payments on the deceased's accounts.

Additional documentation may be necessary depending on whether the business is continuing to trade, ceasing trade, or changing names. Our Deceased Team will provide you with the specific requirements based on your circumstances.

To proceed, we require either the original documents presented in one of our branches or certified copies of the pertinent estate documents. You have the option to deliver these in person to our branch or send certified copies via:

• Email: deceased@unitybank.com.au
• Post: Unity Bank, PO Box K237 Haymarket NSW 1240

Please refrain from mailing original documents; certified copies are acceptable.

Depending on your circumstances, we may request you to complete specific forms. For more information, please email our Deceased Team at deceased@unitybank.com.au or contact us by phone on 1300 36 2000.

While anyone can inform us of the passing of an account holder, we can only disclose account details or act on requests from Authorised Estate Representative(s) who have been identified.

Grant of Probate or Letters of Administration are issued by the Supreme Court in the state or territory where the estate is located.

Usually, these documents are required when the estate's value (balance of solely held accounts with us) exceeds $15,000 or to discharge a solely held home loan.

A Grant of Probate is a court document that verifies the validity of a Will and authorises the executor(s) to act.

Alternatively, Letters of Administration may be issued by the Supreme Court, granting authority to an administrator to settle the estate, typically when there is no valid will.

Below is an overview of the process for obtaining these documents in each state:

ACT | NSW | NT | QLD | SA | TAS | VIC | WA

We may disburse funds from the deceased estate to cover expenses such as outstanding bills or estate-related costs (e.g., strata fees) before the estate settlement.

To initiate a payment, we require relevant invoices or receipts. Additionally, we need payment authorisation from all Authorised Estate Representatives who have fulfilled our Identification Requirements.

For further information, please contact us on 1300 36 2000, Monday to Friday, 8am to 7pm (AEST) or +61 2 8263 2300 if you're calling from overseas or via email deceased@unitybank.com.au

Funds can be disbursed to cover business expenses upon receipt of a request from:

• The Authorised Estate Representative(s)
• A single director (for companies where there are up to two directors), or at least two directors (for companies where there are three or more directors)
• The chairman, secretary or treasurer
• A trustee
• A single director for the trustee (for trusts where there are up to two directors), or at least two directors for the trustee (for trusts where there are three or more directors)

This involves carrying out the terms of a deceased person’s Will to ensure their intentions are followed in finalising their Estate. This process is regulated and may include transferring assets or gifts to beneficiaries, converting assets into cash, closing bank accounts, transferring shares, selling a house, transferring interest in a business, etc. The administration of a Deceased Estate is governed by legislation in each state.

This is the person (or people) named in the Will who will receive assets from the Deceased Estate. If the deceased person did not leave a Will, the beneficiaries may be determined in accordance with the legislation in the relevant state.

This is the process of gifting personal property through a Will.

A copy of an original document that has been verified as being a true copy once the original has been sighted by an authorised witness. The certified copy of the document will be signed and stamped by the authorised witness.

Any document which has the legal effect of adding to or amending the terms of an existing Will.

A certificate issued by the Registry of Births, Deaths and Marriages, giving the date, place and cause of death along with other relevant information.

The property and assets belonging to a person who has passed away.

This is a legal document which appoints a trusted person (or people) to deal with or manage financial and health decisions on your behalf. Importantly, an Enduring Power of Attorney automatically ceases on the passing of the principal.

This is the person, institution or entity appointed to administer the Deceased Estate. The administration of the Estate may be complex, and the Executor may need to seek legal advice or other assistance with carrying out the administration.

This is a certificate issued by a court which authorises the Executor to carry out the administration of the Estate of the deceased person. Probate confirms the Last Will of the deceased person and grants the Executor the right to administer the Estate of the deceased person. G&C Mutual Bank may require a Probate be produced in order to close the deceased’s bank accounts and release the funds held in those accounts in accordance with the Executor’s instructions.

This is a person who you appoint to be legally responsible and care for any children. The Guardian will take control of the important decisions about a child’s welfare including who will care for them, their education and where they will live. You are also able to appoint a Guardian for a person who is incapable of making decision in regards to their living arrangements and personal health due to a mental incapacity or disability. An application is made to a court in the relevant state for a guardianship order to be made.

This term applies when a person dies without executing a Will. In this situation, the law determines who receives the assets of the deceased person’s Estate.

This describes a form of ownership. If you own property as a joint tenant with another person, you own the property equally with the other person. When a joint tenant dies, that person’s share of the property passes to the surviving joint tenant.

Letters of Administration are obtained where a person dies intestate. The legislation in each state determines who the person (or people) are who can administer the Estate of the deceased person. That person then applies for a document called “Letters of Administration” through the relevant state court.

The closest living relative of the deceased by blood or marriage. The Next of Kin is noted on the Death Certificate.

This is the portion of the Estate of a deceased person which remains after payment of all debts, funeral and other expenses and provision is made for any specific gifts by the Will. In other words, the residue of an Estate is all the assets which are left over.

This also describes a form of ownership. Unlike joint tenancy however, when a person owns property as a tenant in common, that person’s interest does not automatically transfer to the other property owner. If you have a Will, your interest in the property is transferred pursuant to the instructions in your Will.

A Testamentary Trust is a trust created by a Will and arises on the death of the Testator.

This is the person who has made and validly executed a Will or Testamentary Trust.