What's the safest way to close my deceased relative's bank and financial accounts without falling for a scam?
Contact each institution directly using their official verified phone number or website, provide a certified death certificate through their official process, and never rely on a third party contacting you claiming to help 'close accounts' for a fee.
Last reviewed: 5 July 2026
Explanation
Closing a deceased person's financial accounts is a legitimate and necessary task, typically requiring the executor or a legally authorized representative to contact each bank, investment firm, or financial institution directly, provide a certified copy of the death certificate along with proof of their authority (such as letters of administration or probate), and follow that institution's specific closure process. This process, while sometimes tedious, does not usually require paying a fee to the institution itself simply to close an account.
Scammers exploit this genuine but sometimes confusing process by offering to 'help' close accounts for a fee, or by impersonating a bank's account closure department and asking for login credentials, card numbers, or other sensitive details under the guise of completing the closure. Genuine banks will never need your online banking password to close an account, since the executor's legal authority and identity verification are what matters, not knowledge of active login credentials.
The safest approach is to compile a list of the deceased's known financial institutions, contact each one directly using their official customer service number, ask specifically what documentation they require, and complete the process only through their verified official channels rather than through a third party or an unsolicited caller offering to help.
Common red flags
- Third party offers to close accounts on your behalf for a fee
- Caller claiming to be from the bank asks for online banking login details or passwords
- Pressure to act through an unfamiliar 'estate services' company rather than the bank directly
- Request for payment to 'process' an account closure
- Unsolicited contact rather than closure initiated by the executor themselves
What to do now
- Compile a list of all known financial institutions the deceased used
- Contact each institution directly using their official customer service number to ask about their closure process
- Provide required documentation, such as a certified death certificate and proof of executor authority, only through verified official channels
- Never share online banking passwords or login credentials with anyone claiming to help close an account
- Be wary of unsolicited 'estate closure service' offers and verify any such company's legitimacy independently before paying
Frequently asked questions
Do I need to be the executor to close a deceased person's bank account?
Generally, yes, only the legally appointed executor or administrator, or in some cases a joint account holder, has the authority to close accounts, so banks will typically require proof of this legal standing.
Is it ever worth paying for a professional estate account closure service?
It can be helpful for very complex estates with many accounts across multiple institutions, but verify any such company's legitimacy and fee structure carefully before engaging them, since this area does attract some predatory operators.