Paying funeral expenses from deceased bank account

Did you know that paying for funeral expenses from a deceased bank account is one option to help families pay for a funeral?

At Anton Brown Funerals, we understand that funeral costs can add up quickly, leaving families struggling to find ways to pay for the services the way they want to honour their loved ones.

This article will examine the release of funds from deceased estates through Australia’s top financial institutions.

We will explore how each financial institution handles the release of funds and provide helpful information and important links. We hope it will assist families in planning and navigating costs associated with their loved one’s farewell.

Paying for a Funeral: Release of funds from deceased estates

Each financial institution has its own unique set of rules when it comes to releasing funds from deceased estates.

Commonwealth Bank (CommBank)

If funeral expenses must be paid from the deceased bank account, branch managers are authorised to delegate up to $15k. However, if the amount exceeds this limit, the case is escalated to the Estate Settlement and Support Team.

Payments can be made upon request of the Executor or to the person listed on the invoice. There is no maximum limit for the amount that can be paid.

To authorise CommBank to release assets, the Executor(s)/Administrator(s), immediate next of kin or beneficiary will need to complete an Authority to Release Assets form – click here to access.

ANZ Bank

The deceased’s account can be used to directly pay for the funeral bill, provided that the funeral director’s original tax invoice (or receipt if already paid) is supplied. The full cost of the funeral will be covered if there are sufficient funds in the account.

However, if there are insufficient funds, ANZ will close the account and partially pay the funeral director. This process can be completed by visiting an ANZ branch or sending the invoice to ANZ Deceased Estates.

It’s important to note that other expenses related to the funeral, such as the wake, headstone or memorial, cannot be paid from the deceased person’s account.

Visit ANZ website for more information and frequently asked questions about deceased estates.

National Australia Bank (NAB)

NAB requests a certified copy of the invoice from the estate funds recipient to pay for a funeral. The recipient must also provide certified identification documents.

The amount and timing of payment depend on various factors assessed by NAB on a case-by-case basis, but most payments are made within 14 days. NAB limits payments from the estate funds to $15,000.

Westpac

Funds can be released over the counter at the branch if a funeral invoice is produced.

Refer to Westpac’s online resources for additional guidance and details on funeral arrangements and registering a death.

Paying funeral expenses from deceased bank account

Funerals can be expensive, and the financial burden can compound the emotional stress.  

However, one way to alleviate some of the financial burden while honouring your loved one is by considering the option of paying for funeral expenses from the deceased’s bank account.

We trust that this resource will help families plan and navigate the expenses involved in bidding farewell to their loved ones.

Anton Brown Funerals are here to help guide our families every step of the way. Contact Anton Brown Funerals today.