Accounts and cards linked to an estate

If you’ve already notified us about a bereavement, here’s what you can expect will happen to the person’s accounts, cards, and signing authorities.

We can only release information you’ve requested about their account (for example statements, transactions, or tax certificates) in some cases.^

Accounts

If the person had accounts or cards in their name only, we’ll freeze them. This means:

• direct debits and automatic payments will stop (except for BNZ home loans)
• debit and credit cards will no longer work
• third parties (such as your accounting software provider) won’t be able to view the accounts.

You’ll need to make other arrangements with any organisations that need paying. For example, power, gas, or phone companies. You can still deposit money into frozen accounts if you need to.

If the account freeze impacts your day-to-day finances, we may be able to help. Call us on 0800 500 280 to talk to our Bereavement Assistance team.

Signing authority

All signing authorities on the deceased’s individual accounts end on their date of death. This includes:

• power of attorney
• enduring power of attorney
• signing authority for individual accounts.

Joint accounts

If the deceased had a joint account with you or others, and the account still has money in it, we’ll transfer the funds to the remaining account holders.

To keep using the account, the remaining account holders may need to visit a BNZ branch to update the account operating authority. The account operating authority is a customer’s written permission for who can operate a bank account in their name. We’ll let you know if this is required in the initial letter we send to the joint party. We must get joint written instructions if more than one account holder remains.

Joint credit cards

If you have a joint credit card with the deceased, we’ll change the card account to your name only. We may also send you a new card if it’s needed. You can then continue to use the card.^

Additional credit card holders

If you’re an additional cardholder with the deceased, you may still be able to use the existing card for a few months. We’ll let you know.

If you want your own credit card, you’ll need to apply for a new credit card.

Business accounts

If the deceased was a company director, the company’s BNZ business accounts will remain open after we’re notified of the bereavement.

If we need you to do anything, our Bereavement Assistance team will get in touch with you. For more information, contact us on 0800 500 280 or visit a branch.

Bereavement support

For support and information about our process of managing an estate, visit our bereavement assistance page.