We are here to help

If you recently lost a loved one, we understand this is an emotional time - and it may be a challenge to handle matters like closing their bank accounts.

Don’t worry. We’re here to guide and assist you every step of the way.

To help make things easier for you, we have put together the necessary information below - along with a brochure you can download for quick reference.


4 steps to close a Personal Deposit Account
(This process excludes Trust Accounts)

You will find details for each of these 4 steps here, which will show you what to expect and what to prepare.

Notify the Bank

When you’re ready, you can start the process by visiting any bank branch to inform the passing of your loved one. Alternatively, you or the Legal Representative responsible for managing your loved one’s affairs – if this is someone other than yourself – may also notify the bank after you have obtained all necessary legal documents in Step 3.

Documents required:

  • Original Death Certificate
  • Proof of Relationship (such as a Marriage or Birth Certificate)
  • Identity Documents of Applicant/Next-of-Kin:
    • Singaporean/PR: NRIC
    • Malaysian: Malaysian IC
    • Foreigner: Passport

Once this is done, all the accounts will be frozen*until it is officially closed.

Personal Accounts: A notification letter will be sent to the last known address stated by your loved one to close the account.

Joint Accounts: A notification letter will be sent to surviving joint account holder(s) to close the account.

*Upon tagging of “Account Frozen”, all operations of the account will be restricted i.e. no withdrawal will be permitted from the account, including GIRO arrangements and other payment arrangements.

Look for the Will

Your loved one’s will can clarify how they intend for their estate to be distributed; and who is to manage this.

If no will is found
This is not a problem, we can still help. Please proceed to Step 3 to learn how you can continue the process.
To locate the will
You can check with your loved one’s lawyer or financial advisor; or search the Wills Registry for any records.

Apply for Legal Documents

To formally close the bank account, you must apply for the relevant legal documents from the court. This is a potentially complex process which can take 2 to 6months depending on your legal advisor and the complexity of the case. Though not legally required, we advise you to engage a lawyer to assist you with this step. Here, allow us to answer some questions you may have.

What do I apply for?

Where do I make my application?

For a detailed guide for the application of the legal documents kindly refer to the link here.

I don’t know the value of my loved one’s estate at POSB. What should I do?

As the Next-of-Kin, (as per the distribution rules set out in the Intestate Succession Act) simply visit any bank branch with the documents below to obtain your loved one’s bank account information.

Documents required:

  • Original Death Certificate (or a photocopy if the bank has already been informed of your loved one’s passing)
  • Proof of Relationship (such as a Marriage or Birth Certificate)
  • Identity Documents of Applicant/Next-of-Kin:
    • Singaporean/PR: NRIC
    • Malaysian: Malaysian IC
    • Foreigner: Passport

Close the Bank Account

Finally, you (and all other Legal Representatives as stated in the Grant) must be present at the bank branch for the closure of account and release of funds. Do note that the duration for account closure varies according to the type and number of accounts held by your loved one.

Documents required:

  • Original Grant of Probate or Grant of Letters of Administration sealed in Singapore Court (Soft or hardcopy)
  • Identity Documents:
    • Singaporean/PR: NRIC
    • Malaysian: Malaysian IC
    • Foreigner: Passport
  • Authorisation for closure of account signed by all Administrators/Executors

If your loved one held a joint account, the bank can release all the remaining balance in the account to the surviving joint account holder(s) under Right of Survivorship.

Joint - All account:
The Bank is obligated to act ONLY if there is written instruction from all surviving joint account holders (or their respective authorised signatories).

Joint - Alternate account:
The Bank will be able to act with written instruction from ANY surviving joint account holder (or their respective authorised signatories). No further authorisation or notification from other joint account holders will be required.


Useful Links

ICA Lost Documents
If you have misplaced Birth, Marriage or Death Certificates, you can get a new copy here.
Public Trustee
For estates worth below $50,000- The Public Trustee’s Office may assist you in the distribution of the assets.
Family Justice Courts
Go here for details on applying for the legal documents required for account closure.

Additional Assistance

We are here to offer any help we can. Please do not hesitate to reach out to us if you require more information or clarification.

Email us

Visit us to get assistance in person
Locate your nearest branch

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