🤖 AI-käännös / AI translation

This article has been automatically translated from Finnish by AI. The Finnish original is the authoritative version. Always verify details directly with the relevant authority.

Estate at the bank — how to handle matters when someone close to you has died

Guide · Updated 26.4.2026

The bank is one of the first authorities you will deal with after a death. This guide explains what happens when you notify the bank, how funeral expenses are paid, what authorisations are needed, and when to open a separate estate bank account.

In brief

Notify the bank of the death immediately — the bank freezes the accounts and closes online banking credentials. Funeral expenses are paid from the frozen account against an invoice. To handle matters at the bank, you need a power of attorney from all estate shareholders or everyone’s joint presence. Direct debits do not stop automatically — cancel unnecessary ones yourself.

Notice to the bank — what happens
Freezing accounts and releasing funds
Paying funeral expenses
Estate power of attorney
Estate bank account
The bank’s perunkirjoitus service
Direct debits and recurring payments
Online banking and digital credentials

1. Notice to the bank — what happens

Although a death is automatically registered in DVV’s systems, the bank does not always receive the information immediately. Notify the bank yourself as soon as possible — usually within a week.

What do you need for the notice?

Official death certificate or later DVV’s certificate from the population information system
Your own identity document
Your relationship to the deceased person (for example heir, widow/widower, relative)

How do you notify the bank?

At a branch — the safest way; you receive answers to follow-up questions immediately
By telephone service — possible in almost all banks
In online banking — some banks (Nordea, OP) offer an electronic notice for heirs

What does the bank do immediately?

Freezes the deceased person’s accounts (prevents new payments and withdrawals)
Cancels powers of attorney and account access rights granted to the deceased person
Closes online banking and mobile credentials and payment cards
Marks the accounts for use by the estate
Continues paying reasonable necessary invoices against an invoice

2. Freezing accounts and releasing funds

Freezing accounts is the basic rule, but there are important exceptions. The bank may release account funds for the following purposes against an invoice or receipt:

Funeral expenses (coffin, transport, parish, reasonable gravestone, newspaper notice)
The deceased person’s final necessary bills (rent, electricity, water, hospital)
Costs of perunkirjoitus
Ongoing management of the estate (for example home insurance premium)

Joint accounts and spouse accounts

A joint account (for example a spouses’ joint account) does not necessarily freeze completely — the surviving joint holder can usually continue using the account on the basis of their own authorisation. However, the deceased person’s share of the account is part of the estate and is taken into account in perunkirjoitus.

The surviving spouse’s own account

The surviving spouse’s own personal account remains in the surviving spouse’s normal use. The deceased person’s death does not affect the surviving spouse’s own banking. Read about the surviving spouse’s other rights →

3. Paying funeral expenses

Funeral expenses are primarily paid from the deceased person’s account — the bank releases funds against an invoice. Proceed as follows:

Ask the funeral home and other service providers to issue invoices directly in the name of the estate (not in your name)
Submit the invoices to the bank as copies or electronically — the bank pays them from the estate account
Keep the original receipts for perunkirjoitus

Do not pay funeral expenses with your own funds without the bank’s consent. If you do so, you will have to claim reimbursement from the estate later — and if the estate is indebted, receiving reimbursement may be uncertain.

If there are no funds in the estate

Apply for funeral assistance from social assistance from Kela — for deceased persons with low means
Check whether the deceased person’s trade union provides funeral assistance (usually 200–700 €)
Check the employer’s group life insurance (TRHV)
The beneficiary of life insurance receives compensation directly from the insurance company

4. Estate power of attorney

Banking matters of an estate require the consent of all estate shareholders. In practice, this is handled with a power of attorney in which all shareholders authorise one person — usually one heir or a lawyer — to handle matters on behalf of the estate.

Who is an estate shareholder?

Heirs according to Perintökaari (direct heirs, parents, siblings, etc.)
Surviving spouse, if married at the time of death
Recipient of a universal testament, if the deceased person has bequeathed the property to a specified person
A cohabiting partner is not an estate shareholder, unless they have been given the status of a recipient of a universal testament by will

What is included in the power of attorney?

The deceased person’s personal details and date of death
Names and personal identity codes of all shareholders
Name and contact details of the authorised person
What the authorisation permits (for example account management, requesting balance information)
Signatures of all shareholders (usually also two witnesses)

Banks provide their own power of attorney templates — ask your bank for one or download it from the bank’s website.

5. Estate bank account

Main rule: the deceased person’s own account functions as the estate’s account until the estate is distributed. A separate estate account is necessary only in some cases.

When is it advisable to open a separate account?

The estate continues operating for a long time (for example an apartment is rented out)
The estate includes business activities
An estate administrator has been appointed
The shareholders want to clarify income and expenses

To open the account, you need

Estate inventory deed (confirmed by Verohallinto)
Consent of all shareholders (power of attorney)
Business ID, if the estate has been registered

6. The bank’s perunkirjoitus service

Most large banks in Finland have a perunkirjoitus service for estates:

OP — perunkirjoitus by branch and electronically
Nordea — Nordea Premium / Private service
Danske Bank — perunkirjoitus + estate distribution
S-Pankki — cooperation with legal partners

What is included in the service?

Collecting balance certificates
Ordering family relationship records from DVV
Arranging the perunkirjoitus meeting
Preparing the estate inventory deed and submitting it to Verohallinto
Legal advice if needed (for an additional fee)

Prices

A simple estate (1–2 heirs, little property): about 400–800 €. A complicated estate (will, several heirs, business activities, real estate): 1 000–3 000 € or more. Alternatives: accounting firm, lawyer (~150–300 €/h), legal aid office (for low-income persons), or doing it yourself (only material costs).

7. Direct debits and recurring payments

Direct debits do not stop automatically because of death — they continue until the estate cancels them. This is one of the most common ways in which estate funds flow into unnecessary payments.

Proceed as follows

Ask the bank for a list of all valid direct debits and recurring payments of the deceased person
Go through the list and mark which ones are cancelled and which are kept (for example insurance while the home exists)
Ask the bank to cancel the unnecessary ones — this can usually be done in one visit
Also notify the service provider of the cancellation so that billing does not continue on a new account

Most commonly cancelled items

Newspapers and magazines
Streaming services (Netflix, Spotify, HBO, Viaplay)
Gyms, hobbies, association fees
Mobile phone subscriptions (note: keeping the number may require separate actions)
Electricity, water and district heating contracts (depending on the home’s situation)
Personal insurance policies (illness, travel, life insurance)

8. Online banking and digital credentials

The deceased person’s online banking credentials, mobile applications and Suomi.fi identification are closed when the bank receives information about the death.

Do not use the deceased person’s credentials. Even if you are an heir and know the credentials, using them after death is misuse of personal data under the Criminal Code and may constitute fraud. Instead, apply for an estate power of attorney for handling matters at the bank.

What if you need access to the deceased person’s email or cloud services?

Emails, social media accounts, cloud services and other digital accounts are estate property. Apply for access from the relevant service provider against the estate inventory deed or a certificate from the population information system. For example, Google and Apple offer a separate “deceased account” process for heirs. Suomi.fi messages are not transferred to the estate — they are closed automatically.

Do you need a personal action plan?

You get exact deadlines, benefits and an action list for your situation free of charge.

Create an action plan →

Frequently asked questions

Do I have to notify the bank of the death?

Yes. Although information about the death is transmitted to DVV’s registers automatically, the bank does not always receive it immediately — notify the bank yourself as soon as possible. The bank needs an official death certificate or later DVV’s certificate from the population information system. In most banks, the notice can be made at a branch, by telephone service or, in some banks, also in online banking.

What happens at the bank when I notify it of the death?

The bank 1) freezes the deceased person’s accounts so that payments cannot be made from them, 2) cancels powers of attorney granted to the deceased person, 3) closes the deceased person’s online banking and card credentials, 4) marks the accounts for use by the estate. Direct debits and recurring payments do not stop automatically — they continue until the estate cancels them separately.

Can I pay funeral expenses from the deceased person’s account?

Yes. Although the accounts are frozen, banks release reasonable funeral expenses from the deceased person’s account against an invoice. Present the funeral home’s or parish’s invoice to the bank, and the bank will pay it directly from the estate account. The same applies to the deceased person’s final bills (rent, electricity, hospital bill) and costs of perunkirjoitus.

Who can handle matters at the bank on behalf of the estate?

General rule: estate matters require the consent of all shareholders. Before perunkirjoitus, an individual heir can only take necessary actions (for example payment of funeral expenses). After perunkirjoitus, the estate shareholders can give a joint power of attorney to one person who handles banking matters on behalf of the estate. The surviving spouse’s situation is different — the surviving spouse manages their own accounts normally.

What is an estate power of attorney?

An estate power of attorney is a document in which all estate shareholders (heirs and the surviving spouse) authorise one person — usually one heir or a lawyer — to handle the estate’s banking matters. The power of attorney contains each shareholder’s signature. Banks provide their own power of attorney templates. Without a power of attorney, the bank requires all shareholders’ personal presence or joint contact for each action.

Do I need to open a separate estate bank account?

Not necessarily. The deceased person’s own account effectively becomes the estate’s account until the estate is distributed. It is advisable to open a separate estate account if the estate continues operating for a long time (for example rental income from an apartment) or an estate administrator has been appointed. Opening the account requires the estate inventory deed and the consent of all shareholders.

How does the bank’s perunkirjoitus service work?

Most Finnish banks (for example Nordea, OP, Danske, S-Pankki) have a paid perunkirjoitus service for estates. The bank collects balance certificates, arranges the perunkirjoitus meeting, prepares the estate inventory deed and submits it to Verohallinto. Costs are typically 400–1 200 € for a simple estate, more for a complicated one. Alternatives: accounting firm, lawyer, legal aid office or doing it yourself.

What should I do with the deceased person’s online banking credentials?

The deceased person’s online banking credentials, mobile applications and Suomi.fi identification are closed automatically when the bank receives information about the death. Do not use the deceased person’s credentials after death — it is a crime as misuse of personal data, even if you are an heir. If necessary, apply for a separate estate authorisation for handling matters.

How do I get information about the deceased person’s accounts and savings?

Ask the bank for a balance certificate showing the situation on the date of death — this is a mandatory attachment to perunkirjoitus. The bank gives the information to an estate shareholder against the estate inventory deed or a certificate from the population information system. If you do not know in which banks the deceased person had accounts, check their tax return (interest income) or make an inquiry to Finanssiala.

How do I handle the deceased person’s direct debits and recurring payments?

Direct debits do not stop automatically because of death. Make a list of the deceased person’s direct debits (visible in online banking payment history) and cancel unnecessary ones — especially newspapers, memberships, streaming services and insurance policies that are not in the estate’s interest. The bank advises how the cancellation is done.

Sources

Perintökaari (40/1965), estate shareholders and administration: finlex.fi
Finanssiala — Estate at the bank: finanssiala.fi
DVV — Family relationship records and certificates from the population information system: dvv.fi
Verohallinto — Estate inventory deed and its attachments: vero.fi