*CHANGES TO INTERNET BANKING ACCESS*
From 8 September members will be asked to use One Time Passwords when completing certain actions in internet banking and the MOVE Bank App.
For more information about this change, please click here
We understand this is a difficult time for you. The information below aims to help make this process as simple as possible.
This guide will assist you in finalising your loved one's accounts.
We can pay funeral expenses from the deceased member's account if there is are sufficient funds available.
This can be arranged in two ways:
Any joint transaction or savings accounts held by the deceased with another individual can continue to be used by the surviving party. Once we have received an original certified copy of the death certificate we will transfer the accounts into the name of the surviving party.
(Note: This is not applicable for personal loans, home and investment loans or flexi credit facilities)
Once we have been notified of the death, the account will effectively be frozen immediately and all access to the account will be stopped, including card access, the use of any cheque books, direct debits, internet banking and phone banking. Direct credits will continue to be accepted.
Funds from the deceased’s saving or investment accounts may be applied to an outstanding loan under account combination. A joint loan should continue to be repaid by the surviving joint debtor and the insurance kept up to date. A loan held solely in the deceased’s name will need to be paid out from the deceased’s estate and the insurance needs to be kept up to date until the loan is paid out.
Funds from the deceased’s saving or investment accounts may be applied to an outstanding loan under account combination. An overdraft held solely in the deceased’s name will need to be paid out from the deceased’s estate and the insurance kept up to date until the overdraft is paid out. If a joint overdraft was held by the deceased and the surviving party wishes to keep the overdraft, a member of our loans specialist team will contact the surviving party in due course regarding transferring the debt into a sole name.