What Happens to Deceased Accounts?

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When a relative passes away, the handling of their bank accounts depends on the type of account involved (individual, joint, undivided, or accounts containing securities or safes). For detailed official information, you can also consult Service-Public. For professional guidance, visit ESCEC International.

Individual Account

Once the bank is notified of the account holder’s death, it immediately blocks all accounts where the deceased was the sole owner. This includes:

  • Current accounts

  • Overnight accounts

  • Securities accounts

  • Savings booklets such as:

    • Booklet A

    • Sustainable and Inclusive Development Booklet (LDDS)

    • Popular Savings Booklet (SMP)

    • Youth Booklet

    • Industrial Development Account (Codevi)

    • Housing Savings Plan (PEL)

Important Points

  • Any power of attorney on the account automatically ends.

  • The bank stops recording deposits or withdrawals initiated by the deceased.

Despite the account blockage, certain transactions may still occur:

  • Incoming transfers from third parties, such as retirement pensions not yet adjusted for the death.

  • Direct debit transactions corresponding to expenses incurred by the deceased before death (credit card, check, or transfer), within the limits of funds available on the day of death.

Additional Notes

  • Interest continues to accrue until the account balance is fully settled by the bank.

  • Accounts can be temporarily unblocked to cover post-death expenses, up to the funds available on the day of death and a maximum of €5,910. These expenses include:

    • Funeral costs

    • Medical care for the deceased during their last illness

    • Taxes owed by the deceased

  • The remaining account balance, whether positive or negative, is settled during the succession process.

  • The account is officially closed once the estate is settled.

Special Case

  • If the balance is under €5,910 and the estate contains no real estate, an heir can close the account independently.

  • Otherwise, a notarized certificate (act of notoriety) must be prepared and sent to the bank to close the account.

requently Asked Questions (FAQ) About Deceased Accounts

What happens to a deceased account after the account holder dies?

When the bank is informed of the death, all accounts solely owned by the deceased are blocked, including current accounts, savings booklets, securities accounts, and housing savings plans. Certain incoming transfers and direct debits may still occur within the limits of available funds.

Can someone else access a deceased account?

Any power of attorney on the account ends immediately. No deposits or withdrawals initiated by the deceased can continue, except for pending third-party transfers or direct debits for expenses incurred before death.

Are interest and charges still applied to deceased accounts?

Yes. Interest continues to accrue until the account balance is fully settled. Certain post-death expenses, such as funeral costs, medical care, and taxes, can also be paid from the account within the limit of €5,910.

How is the balance of a deceased account settled?

The account’s positive or negative balance is handled as part of the succession process. Once the estate is settled, the account is closed.

Can an heir close a deceased account alone?

If the account balance is under €5,910 and there is no real estate in the estate, an heir can close the account independently. Otherwise, a notarized certificate (act of notoriety) must be provided to the bank.

What types of accounts are considered deceased accounts?

Deceased accounts include:

  • Current accounts

  • Overnight accounts

  • Securities accounts

  • Savings booklets: Booklet A, LDDS, SMP, Youth Booklet, Codevi, PEL