Estate Banking Matters – Closing Accounts, Bills and Access to the Deceased's Account
· 5 min read
What happens to bank accounts after death?
When a person dies, the Digital and Population Data Services Agency (DVV) notifies the banks automatically. This usually happens within 1--5 business days. Once the bank receives the notification:
- Online banking credentials stop working.
- Accounts are frozen -- no individual can make withdrawals or transfers.
- Automatic payments (direct debits, e-invoices) are stopped.
- Funds remain in the account safely.
The freeze does not mean the funds are lost. Estate shareholders gain access with the required documents.
Required documents
Basic transactions (before the estate inventory)
With these documents, you can pay estate bills and access account information:
- Official certificate or DVV's certificate of death -- can be ordered from DVV.
- List of shareholders or genealogical extract -- shows who the estate shareholders are.
- Identity document -- the transacting shareholder's own.
- Power of attorney from other shareholders -- if one shareholder handles matters on behalf of others.
After the estate inventory
After the estate inventory, the following must be submitted to the bank:
- Estate inventory deed -- the official report of the deceased's assets and liabilities.
- Will, if applicable -- if it affects the distribution of bank assets.
After submitting the estate inventory deed, the estate's assets can be distributed among the heirs.
Bank-specific instructions
OP (Osuuspankki)
- Contact: Call your local OP branch or the number 0100 0500.
- Documents: Official certificate, list of shareholders, identity document.
- Timeline: Access to the estate account within 3--7 business days.
- Bank certificate: 30--50 euros, delivery time 1--2 weeks.
- Note: You can conduct business at any OP branch.
Nordea
- Contact: Call 0200 3000 or book an appointment at a branch.
- Documents: Official certificate, genealogical extract, identity document.
- Timeline: 5--10 business days after submitting documents.
- Bank certificate: 40--50 euros, delivery time 1--2 weeks.
- Note: Nordea handles estate matters centrally -- a branch visit is not always needed.
Danske Bank
- Contact: Call 0200 2580 or by email.
- Documents: Official certificate, list of shareholders, identity document.
- Timeline: 5--10 business days.
- Bank certificate: 30--50 euros.
- Note: Much of the business can be handled remotely.
S-Pankki
- Contact: Call 010 76 5800.
- Documents: Official certificate, list of shareholders, identity document.
- Timeline: 3--7 business days.
- Bank certificate: 30 euros.
- Note: S-Pankki accounts can be managed through the online service with estate credentials.
Paying bills from the estate account
Priority bills
These bills can and should be paid directly from the deceased's account:
- Funeral expenses -- always have priority, even during the account freeze.
- Rent or housing charges -- keeps the dwelling under control.
- Electricity, water, and heating -- prevents service disconnection.
- Insurance premiums -- especially home insurance and life insurance.
How payment works in practice
- Contact the bank and request payment rights for estate bills.
- The bank can grant limited access for essential expenses.
- Keep all receipts -- they are needed for the estate inventory.
- Record all bills paid from the account.
What NOT to pay before the estate inventory
- Personal bills unrelated to the estate
- Donations or investments
- Inheritance distribution or advance payments to shareholders
Joint accounts
If the deceased and their spouse had a joint bank account:
- The surviving account holder retains access to their own share.
- The deceased's share is frozen as estate assets.
- In practice, the bank may freeze the entire account temporarily for review.
- Contact the bank immediately and clarify the account situation.
Safe deposit box
If the deceased had a bank safe deposit box:
- The box is opened in the presence of the estate shareholders and a bank representative.
- The contents are catalogued for the estate inventory.
- Opening the box must be arranged separately with the bank.
- The box rental continues -- cancel once the contents have been collected.
Bank certificate for the estate inventory
A bank certificate is needed for the estate inventory from every bank where the deceased had an account, loan, or other service. The certificate includes:
- Account balances on the date of death
- Remaining loan principals
- Investment values
- Existence of a safe deposit box
- Unpaid credit card debts
Price: 30--50 euros per bank. Delivery time: 1--2 weeks. Order: Request the certificate when you handle other banking matters.
Common mistakes
- Using the account before notifying -- if online banking still works, do not use it without the other shareholders' consent. Unauthorised withdrawals can cause disputes.
- Forgetting automatic payments -- check e-invoices and direct debits. Cancel services that are no longer needed.
- Ordering the bank certificate late -- order it immediately, as the delivery time is 1--2 weeks and the estate inventory deadline is 3 months.
- Losing receipts -- keep all receipts for payments made from the estate account.
Timeline summary
| Phase | Timing | Action |
|---|---|---|
| Death | Day 0 | DVV notifies banks |
| Freeze | Days 1--5 | Accounts are frozen automatically |
| Contact | Week 1 | Contact the bank, submit documents |
| Access | Weeks 1--2 | Bank grants estate access |
| Bank certificate | Weeks 2--4 | Certificate for the estate inventory |
| Estate inventory | Months 1--3 | Estate inventory deed submitted to the bank |
| Account closure | After inheritance distribution | Assets distributed, account closed |
Read more about the estate administrator's duties and documents needed for the estate inventory.
Frequently asked questions
When are the accounts frozen?
DVV notifies the banks within 1--5 business days. The bank freezes the accounts automatically upon receiving the notification.
Who can use the deceased's account?
The estate shareholders jointly. One shareholder can handle matters with a power of attorney from the others.
Can bills be paid before the estate inventory?
Yes. Funeral expenses and essential housing costs can be paid from the account with the bank's permission.
How much does a bank certificate cost?
Typically 30--50 euros per bank. Delivery time 1--2 weeks.
What if the deceased had loans?
Loans become the estate's responsibility. They are paid from the estate's assets or negotiated with the bank. Heirs are not personally liable for the deceased's debts unless the estate is insolvent.
Frequently asked questions
When is the deceased's bank account frozen?
The bank receives notification of the death from the Digital and Population Data Services Agency (DVV) usually within a few business days. The account is frozen automatically upon receipt of the notification. Online banking credentials stop working, but the funds in the account remain safe. If you need urgent access to the account, contact the bank by phone.
Who can use the deceased's bank account?
The estate shareholders gain joint access to the deceased's account. Shareholders include the spouse, children, and any beneficiaries named in a will. A single shareholder cannot use the account alone without the consent of the other shareholders or authorisation from an estate administrator. In practice, one shareholder is often appointed to handle daily banking matters with a power of attorney from the others.
Can the deceased's bills be paid before the estate inventory?
Yes. The estate's essential bills – such as rent, electricity, phone subscription, and insurance – can be paid from the deceased's account before the estate inventory. The bank usually requires a power of attorney from the other shareholders or an official certificate. Funeral expenses always have priority and can be paid directly from the account.
What documents does the bank require?
The bank typically requires an official certificate or DVV's certificate of death, a list of shareholders or genealogical extract, and an identity document from the shareholder conducting business. After the estate inventory, the bank requires the estate inventory deed. Document requirements vary between banks, so it is worth calling in advance.
How much does a bank certificate cost?
A bank certificate for the estate inventory typically costs 30–50 euros per bank. The certificate includes information about the deceased's accounts, balances, loans, and safe deposit boxes on the date of death. If the deceased had accounts at multiple banks, the cost adds up. The certificate is usually available within 1–2 weeks.
Read also
A practical guide to the first hours after a loved one's death. Who to contact, what documents you need, and how to take care of yourself.
What documents are needed for an estate inventory? A comprehensive list: family records, civil registry certificates, will, bank statements, and property documents.
Key duties of the estate administrator: estate management, documents, estate inventory, and inheritance distribution. Who can serve as estate administrator?