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Deceased Memberships

Finalising a membership when a loved one has passed

We’re here to help.

We understand that the death of a family member or friend is an emotional and complex time. To assist we have provided a step-by-step guide to make it as easy as possible for you in going through the process.

This information will provide Members with practical guidance for dealing with accounts held with us as well as the appropriate people to contact. This information is a guide only and general in nature. Requirements will vary depending on the individual circumstances of the deceased and the manner in which the account was opened with Defence Bank or its related entities.

 

What you need to know

 

Step 1 – Contact us

When a family member or friend has passed away, please call our Deceased Memberships team on 1800 033 139 between 8am and 4.30pm Monday to Friday AEST, or visit your local Defence Bank branch.

Step 2 – Provide us with certain documents and forms

Utilise the checklist below and provide the documents and forms to us.

As a security measure we will also require you, as the estate representative, to provide us with a certified copy of your identification so that we can identify you.

As the estate representative, you will need to provide us with originally signed certified copies of the documents listed below so that we can provide our requirements to deal with the deceased's accounts.

Required document checklist: 

  • Death Certificate (an original certified copy)
  • Will (an original certified copy)
  • Probate of the Will (may be required depending on the accounts and other assets of the deceased)
  • Letters of Administration (may be required if there is no valid Will and the accounts and other assets of the deceased exceed a specified dollar amount which varies between state.

 

Once the above documentation has been supplied, the  Deceased Estates Team will provide you with the correct form(s) to complete based upon your situation.

Note: These requirements are a guide only, and we will notify the estate representative of our requirements once these documents have been reviewed.

An originally signed certified copy is an original document that has been certified by an authorised person such as a Justice of the Peace, a Solicitor, a Bank Officer or a Police Officer. For more information about who is authorised to certify documents please click here.

To make things easier, you can bring the original documents to any Defence Bank branch. Our Bank Officers may have the authority to certify copies of the original documents. Alternatively, you can mail an originally signed certified copies of the document directly to our Deceased Memberships team at:

Defence Bank – Deceased Memberships

PO BOX 14537

Melbourne Vic 8001

When you are providing us with these documents, please also provide any other information about the deceased that may be relevant. For example, bank account numbers you believe the deceased person held or the address of any property that may be mortgaged to Defence Bank or its entities.

The Deceased Memberships team will review the documents and will also identify if the deceased held investments in any Defence Bank products, such as a Retirement Savings Account and Defence Bank Superannuation. The information and documentation required for these products will vary, so the estate representative should contact us on 1800 033 139 to discuss in more detail.

Step 3 – Review process and provide further information if required

The Deceased Memberships team will review the information provided and determine what accounts and products were held by the deceased person as at the date of death with Defence Bank and any of its entities.

The Deceased Memberships team will also determine whether any additional documents are necessary for the release of funds and repayment of any debts.

Step 4 – Release

Depending on the circumstances of the deceased and the documents provided, the estate representative may be required to complete additional documents, including statutory declarations, prior to the release of funds.

The Deceased Memberships team will contact the estate representative with any additional requirements.

Related Matters

There are a number of related matters that need to be considered by the estate representative in the administration of the affairs of the deceased, for example:

Funeral Expenses

If there are sufficient funds held in the accounts of the deceased, Defence Bank can arrange for the payment of the deceased's funeral expenses The estate representative can attend one of our branches with the original funeral account and we will arrange for payment of the account from funds held for the deceased. The payment will usually be done by direct deposit to the funeral director, not to the estate representative.

If the funeral account has already been paid, then we can arrange for a reimbursement of the paid funeral account. Please provide the original invoice and receipt and provide us with the banking details of the person who paid the account. Subject to verification, a refund of the paid account will be made by direct deposit or cheque to the person who paid the funeral account.

Joint Accounts

If the deceased held an account in joint names with another person, then the balance in the account belongs to the surviving joint account holder(s).

The joint account title can be transferred into the name of the surviving joint account holder(s) by presenting an originally signed certified copy of the death certificate for the deceased account holder to one of our branches or mailed to Defence Bank Head Office in Melbourne.

Note: This does not apply to credit cards, personal loans or home and investment loans. Additional documentation is generally required in these circumstances.

Personal Loans and Credit Cards

For any amounts owing on overdrawn accounts, credit cards or personal loans, Defence Bank reserves the right to combine the balances of two or more of the deceased's accounts to repay any amounts outstanding. For example, funds from an everyday banking, savings or investment account may be used to clear overdrafts, personal loans and credit cards of the deceased person. This is explained in the Defence Bank Product and Services - Conditions of Use.

However, if there are no available funds to cover the amounts owing on overdrawn accounts, credit cards or personal loans, we will contact the estate representative directly.  Generally, if there are still funds owing in overdrawn accounts, credit cards and personal loans, then we will require payment of any balance from other assets owned by the deceased.

Home Loans

Any home loans in the sole name of the deceased will need to be repaid either by selling the security property or from other assets owned by the deceased. Our Deceased Memberships team will be the point of contact and will liaise with the appropiate parties during this process. 

For home loans in the joint name of the deceased and another party, the surviving owner will generally be requested to complete an assesment to ensure they are not put in a position of financial hardship with the extra responsibility of servicing the mortgage. 

For more assistance

Contact the Deceased Memberships team on 1800 033 139, available between 8am and 4.30pm (AEST) Monday to Friday.

Deceased Memberships

Call: 1800 033 139

Post: Defence Bank,
Deceased Memberships

PO BOX 14537, Melbourne Vic 8001

Email: info@defencebank.com.au  

 

Click here for Frequently Asked Questions

Click here for Glossary of Terms and Definitions 

Call 1800 033 139
phone
BSB 833-205