Step 1: Contact us as soon as possible
Let us know as soon as your loved one has passed. Once you've got in touch with us, we'll freeze the accounts while we work through the process and the estate matters are arranged.
Sadly there's no automatic system to tell us if a customer passes away. Unless someone lets us know, we'll keep operating the deceased's accounts as usual. This can lead to awful situations such as us sending a reminder for an overdue payment.
Rest assured, our teams know what to do. You can get in touch by:
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Heading to your local branch and talking to one of our staff.
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Call us on 0800 111 191 if calling from New Zealand or +64 9 448 8359 if calling from overseas. Overseas charges may apply.
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Email us at deceasedestates@asb.co.nz and a member of our staff will be in touch.
Step 2: Provide us some details
When you tell us about someone passing away, we need a few details.
- The deceased's full name and home address
- The date they passed away
- Something to help us identify their ASB account details, like an account number, their EFTPOS card or ASB Visa card
- A will, if they have one
- Contact details of the person who’ll be looking after the estate, such as an administrator or solicitor
Don't worry if you don't know everything on this list. We can work with you to obtain the information.
We'll also need to record your details and your relationship to the deceased. We may need proof of identity such as a passport or driver's licence.
The Death Certificate
While we don't need the Death Certificate immediately, do provide it to us as soon as you can. Either show us the original or provide us a certified copy. Certification can be completed by your local Justice of the Peace (JP) or solicitor.
Step 3: We'll start the process
When you let us know about the deceased, we'll flag their records and freeze their accounts. This keeps their accounts and money safe. However this means most payments will be stopped and their EFTPOS cards, ASB Visa debit and credit cards will be cancelled, along with internet banking and phone banking access. Don't worry, if you have a joint account your own cards will continue to work. Deposits can still be made into the account.
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Power of Attorney
The Power of Attorney gives a trusted person the right to operate someone's accounts on their behalf should they be unable to make decisions for themselves. This only applies while the person is alive. Once they pass away, the Power of Attorney no longer applies.
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Insurance
When you tell us about your bereavement, we can check to see if the deceased had life insurance or consumer credit insurance (Personal Loan or Credit Card) through us. If they do, we'll help you start the process of making a claim.
If you have jointly owned Credit Card Repayment Insurance, you're eligible to claim the deceased customer's outstanding credit card balance after they pass away. You can also continue to retain the insurance if you want to.
Step 4: Sorting the other accounts
Joint accounts
A joint account is held equally by two or more people. If one passes away, the other holder(s) automatically takes full ownership. They'll be able to access funds, make withdrawals and payments. If you need help accessing a joint account, get in touch on 0800 803 804 or visit your local ASB branch. You can also decide whether to remove the deceased's name from the account or leave it in place for the time-being.
Trust, Company or Partnership accounts
These accounts do not form part of the estate. If the deceased has one of these accounts, we will need the surviving trustee(s)/shareholder(s) to contact us to make changes.
Step 5: Releasing funds
If the estate is over $15,000, we can't release any funds until the High Court grants probate over the will. Probate involves registering the deceased's will with the High Court, so they can confirm that it's valid. When this happens, the executor of the will is legally empowered to execute the wishes of the deceased. That will include distributing funds and other assets. If there is no will, the courts will appoint an administrator who will determine the fair distribution of assets.
If the estate is under $15,000, we will require a Deceased Estates Claim and Closure form to be completed. Your local branch can help you through this.
When closing the estate, we're required under the Anti-Money Laundering (AML) and Countering Financing of Terrorism Act 2009 to verify your identity or the identity of the people administering the estate. We'll help you work through this process.
Funeral Expenses
We can often release funds from the deceased's accounts to help pay for funeral costs. It can be a lot of help at an already stressful time. Please talk to us about this option so we can guide you through what's required.
Help if you need it
Are you cut off from your day-to-day finances after the passing of your loved one? Call 0800 803 804 and we might be able to help.
The information and tools suggested are intended to provide general information only. It is not financial advice and does not take into consideration your personal needs and financial circumstances. You should consider seeking financial advice before making any decision based on this information.
