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 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.

Can't find what you're looking for?

chat
Our live chat is available Monday to Friday 9.00am -6.00pm ACST and Saturday 9.00am -3.00pm ACST.
Let's Chat
feedback
Have feedback or questions you would like to add to our help section?
Contact Us
services
Our friendly Customer Relationship Centre staff are here to assist you over the phone.
Call Us

Share this page

×

For the security of your accounts, Internet Banking no longer supports Internet Explorer 8 or earlier versions.

As you may know, Microsoft recently made the decision to discontinue its support of Internet Explorer 8 (IE8). This leaves users exposed to potential security risks. As a result, Beyond Bank's Internet Banking will no longer support Internet Explorer 8 or earlier versions. Going forward, Beyond Bank will support Internet Explorer 9 or later to ensure the security of your accounts.

Continue to Website