Family Financials

Find answers to our customers' most frequently asked questions about how you can help your loved ones manage their finances. From becoming Power of Attorney to managing a Deceased Estate.

If you are going through a period of financial hardship and have a loan, line of credit or credit card with us, please contact our Credit Control team on 08 8205 8678 to discuss your options.

If your financial issues are causing you stress or anxiety, please remember there are services available to assist with this:

Beyond Blue: the national depression initiative.

www.beyondblue.org.au

1300 22 4636 or email infoline@beyondblue.org.au

For information on:

  • Depression
  • Anxiety
  • Anxiety related disorders
  • Available treatments
  • Where to get help.

 

Youth Beyond Blue

www.youthbeyondblue.org.au 

Beyond Blue’s website for young people.

For information on:

  • Depression
  • Anxiety
  • How to help a friend.

Lifeline

www.lifeline.org.au
13 11 14
For information on:

  • Counselling
  • Information and referral (local call).

Multicultural Mental Health Australia

www.mmha.org.au
(02) 9840 3333
For mental health information for people from culturally and linguistically diverse backgrounds.

 

Kids Helpline

www.kidshelp.com.au
1800 55 1800

Counselling for children and young people aged between 5 and 25.

 

If your loved one has any legal or mental incapacity then you must provide a medical certificate from your family members’ doctor for their access to be removed. Some power of attorney agreements only come into effect in the event of your family member or loved one suffering mental or legal incapacity. Therefore Beyond bank cannot grant you access to their accounts without a medical certificate.

As we have now been advised by their medical practitioner that they no longer have legal or mental capacity and therefore the Power of Attorney is managing their affairs, your loved one has their access removed and the Power of Attorney has their access granted. You will receive a membership number and the appropriate forms of access to the account dependant on the level of access granted granted/requested. 

An Executor is the person named in a Will to carry out the wishes of a person after they die. They collect the assets of the deceased, pay the debts and distribute the property as set out in the deceased’s Will.

An Administrator is a person (normally a next of kin) appointed by a court to administer the estate of a deceased person who has not left a Will.

Probate is an order granted by the State Supreme Court confirming the identified Will is the true and last Will of the Deceased, and declaring that the Executor(s) are lawfully entitled to finalise any Deceased Estate matter within the state that the Probate is granted.

  • If the account was only held in the name of the deceased, Beyond Bank will stop all access to the account/s (cancel cards, cheque books and direct debits).
  • All person’s access including any Power of Attorney’s or Signatory’s access will cease at death and will be removed from the deceased account/s.
  • If there are any recurring direct credits or debits on the account you’ll need to contact these individual organisations to notify them.
  • If the account is a Joint account the account can continue to be operated by the surviving owner.
  • If the loan is a Single loan it will need to be paid out upon settlement of the estate. If there is any difficulty meeting the contractual obligations of the loan you will need to discuss future arrangements with us.
  • If the loan is a Joint loan the repayments will need to continue to be made. If there is any difficulty meeting the contractual obligations of the loan you will need to discuss future arrangements with us.

Once all the documents have been received we will begin settling the accounts and releasing funds to the Executor/s, Administrator/s or Solicitor acting for the Estate.
If there are proceeds to come to the Estate from the sale of property, rebates, etc. we recommend an ‘Estate of…’ membership be opened which can be operated by the Executors. To do this we require the Death Certificate along with the Will, Probate or Letters of Administration, whichever is relevant.

  • The original Grant of Probate, required by the Bank for funds held in excess of $35,000.
  • The original Letters of Administration, required by the Bank for funds held in excess of $35,000.
  • An Indemnity form will be provided by the Bank if there is no will and the funds held are less than $35,000.

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Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit License 237 856 ('Beyond Bank') arranges travel insurance as agent of AWP Australia Pty Ltd ABN 52 097 227 177 AFSL No. 24563.

All other general insurance is arranged as agent of Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No 234708 (Allianz).

Neither we nor any of our related companies guarantee the benefits payable under the policies or the repayment of any premium. PremierCare® is a registered trade mark of Beyond Bank Australia.

When we arrange insurance, we may receive a commission from the insurer. The commission is calculated as a percentage of the premium you pay, not including any taxes or other government charges. The amount of commission varies depending on the type of insurance and will be in the range of 0% to 30%. Commission is only payable on premium actually paid. We may also receive a profit share payment based on the profitability of eligible products in our insurance portfolio. Ask us for more details before we provide you with the services.

Any advice here does not take into account your objectives, financial situation or needs, which you should consider before acting on any of our recommendations. All information regarding the benefits, features or extent of cover provided by any of the policies is provided as a summary only. You should refer to the relevant Product Disclosure Statement (“PDS”) for the full policy terms, conditions, exclusions and limitations. The PDS can be reviewed from this website or you can call us on 13 25 85 and request a copy. If you obtain or purchase insurance through our website you also agree to have received our Financial Services Guide (FSG) which is available from this website. 

Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/ Australian Credit Licence 237856 is an agent for Allianz Australia Insurance Limited (ABN 15 000 122 850) of Level 12, 2 Market Street, Sydney, NSW, 2000, telephone number 132 664.

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