CommBank Deceased Estate: How to Access Funds and What the Bank Requires

One of the first practical problems an executor or next of kin faces is the bank. The deceased's accounts are frozen the moment the bank is notified of the death. No transactions go through. Direct debits bounce. And if you need money for the funeral, the clock is already ticking.

Commonwealth Bank (CommBank) — Australia's largest retail bank by market share — has a dedicated deceased estate process, but it's not always clearly communicated at the branch level. Here's what you need to know to avoid delays and unnecessary trips.

Notify CommBank as Soon as Possible

The notification step unlocks the entire process. You can notify CommBank of a death in person at any branch, and it is generally faster than trying to do it by phone. Bring:

• An original or certified copy of the Death Certificate issued by NSW BDM
• Your own identification (driver's licence or passport)
• The Will, if you have it and you're the named executor

CommBank's bereavement support team, operated through their Deceased Estate Unit, then takes over the account. They'll freeze all sole-name accounts and provide you with information about the next steps.

Joint accounts — those held in two names — are generally accessible to the surviving account holder immediately, as the funds belong to the survivor by right of survivorship. The bank may request the Death Certificate to update the account records, but it does not freeze the surviving joint holder's access.

The $50,000 Threshold: What It Means in Practice

CommBank applies an internal risk threshold when deciding whether to release funds from a deceased sole-name account without requiring a formal Grant of Probate from the Supreme Court of New South Wales.

The general benchmark across major Australian banks is approximately $50,000 to $76,000 for any single institution. For sole-name accounts below CommBank's internal threshold, the bank can release funds informally. For this, they typically require:

• The official Death Certificate (certified copy)
• A copy of the Will (if there is one)
• A completed Deceased Estate Indemnity Form — a legal document in which the person receiving funds indemnifies the bank against future liability if another claimant later emerges

If the sole-name account balance exceeds the threshold, CommBank will not release funds until a sealed Grant of Probate (or Letters of Administration in an intestate estate) is presented. At that point, the executor presents the Grant, and the bank transfers funds according to the Will's instructions.

Releasing Funds for Funeral Costs Before Probate

There is one important exception to the account freeze: funeral expenses. Australian banks, including CommBank, understand that families cannot always fund a funeral out of pocket while waiting weeks for official documentation.

CommBank can pay funeral expenses directly from the deceased's account before probate is granted. The executor or next of kin needs to present:

• The Death Certificate or a copy confirmed by the funeral home
• The funeral invoice from a licensed funeral director

CommBank pays the funeral director directly from the deceased's account. They do not typically release cash to the family for this purpose — the payment goes to the service provider. If the estate cannot fund the funeral at all and the bank account is minimal or empty, contact NSW Health or the hospital social worker about the NSW destitute funeral provision before signing any contract with a funeral home.

What Happens to Term Deposits, Home Loans, and Credit Cards

Term deposits: CommBank will not let a term deposit mature and pay out to an account without the appropriate authority. Below the threshold, the indemnity form approach may work. Above it, the Grant is required. Early-break fees on term deposits are typically waived for deceased estate situations — ask explicitly.

Home loans and mortgages: If the deceased had a home loan with CommBank, interest continues to accrue on the outstanding balance. Notify the bank promptly. CommBank's bereavement team can place a temporary hold on enforcement action while probate is being processed, but this requires direct communication. Don't assume the loan is paused without confirming.

Credit cards: CommBank will cancel the deceased's credit card once notified. Any outstanding balance becomes a debt of the estate, paid from estate funds before distribution to beneficiaries. Authorized users on the account lose access immediately.

Everyday accounts shared with the estate: If the deceased had a CommBank Everyday account used for regular bills (utilities, insurance), the executor can ask CommBank to allow limited transaction access for urgent bill payments while probate proceeds. This is handled on a case-by-case basis.

Documents CommBank Will Typically Ask For

For a straightforward estate where the balance is below the threshold and there is a valid Will:

1. Official Death Certificate (original or certified copy)
2. Copy of the Will (certified or original)
3. Executor's identification (two forms — at least one photo ID)
4. Completed CommBank Deceased Estate Indemnity Form (provided by the bank)
5. Account details for the estate account (or the account where funds will be transferred)

For estates requiring probate (above the threshold or involving complex assets):

1. Sealed Grant of Probate — the original, court-stamped document issued by the Supreme Court of NSW
2. Executor's identification
3. Details of the estate account for transfer

Once CommBank receives the sealed Grant, they will typically process the account transfer within two to five business days.

Opening an Estate Account

If the estate has multiple assets, income, or debts to manage, it's often worth opening a dedicated CommBank Estate Account (or any bank transaction account in the name of "The Estate of [Deceased]"). This keeps estate funds completely separate from your personal finances — which matters for your own record-keeping and, more importantly, for your protection as executor.

You'll need the Grant of Probate to open an estate account at most banks. Some banks allow this with the indemnity form for smaller estates, but confirm with CommBank directly.

The Bigger Picture: CommBank Is One Piece of the Estate

CommBank can only release funds held with CommBank. If the estate also holds accounts with ANZ, NAB, Westpac, or a credit union, each institution has its own separate deceased estate process and its own threshold. The threshold policies are not uniform across all banks — some credit unions set theirs as low as $20,000.

For estates with share portfolios, separate notification to the relevant share registry (Computershare or Link Market Services) is required. Share registries typically require a Grant of Probate for portfolios exceeding $15,000, regardless of what CommBank decides to do.

And if the estate includes NSW real estate held as a sole owner or tenant in common, a Grant of Probate is mandatory — no bank threshold can substitute for it.

Navigating every institution after a death — bank by bank, registry by registry — is one of the most exhausting parts of estate administration. The New South Wales Probate Process Guide consolidates all of it: bank thresholds, the indemnity form process, asset-by-asset checklists, and plain-English scripts for dealing with institutional bereavement teams.

See more New South Wales guides →