While we know it can be tough losing a loved one, sorting out their finances is something that’s usually best acted on quickly. Here are some small ways we can help.

Start by letting us know

After you get in touch, here's what will happen next:

  1. We'll freeze any savings and transaction accounts in their name until you've finalised their estate.
  2. We'll transfer any joint accounts (not loans) to the other account holder.
  3. Any Power of Attorney or Enduring Power of Attorney will end.
  4. If a will exists, payouts will be made by its executor to nominated beneficiaries. Any outstanding debts will stay with the estate.

Ask us about their savings and debts

To find out about their transaction accounts

It’s best to visit your local NAB branch, or call NAB Bereavement Support on 1300 911 451.

To find out about any loans

Loans differ with every situation. To finalise or take over a loved one’s loan, get in touch with the NAB banker who manages it, call NAB Bereavement Support on 1300 911 451 or visit the NAB branch where it’s held.

Consider their funeral and insurance

Funeral expenses

Was your loved one a NAB customer? If so, it might be possible to use funds from their estate to help pay for the funeral immediately.

Find out which expenses we can cover in Managing a deceased estate. It’s also worth having a read of ASIC's Funeral costs and how to pay them.

Life insurance

Find out if your loved one took out a life insurance policy, or had it included in their super fund. It could be a huge help for covering costs.

If you’re dealing with an insurance scenario that isn't straightforward, make sure you talk to a solicitor first. NAB Bereavement Support is also here to help.


Contact us

We're here to help you in any way we can.

  • Call NAB Bereavement Support on 1300 911 451
  • Send us an email at NAB.Bereavement.Support@nab.com.au
  • Visit us at your nearest branch.
  • Send us a letter with your loved one's full name, date of birth, date of passing, address and any bank details you know to the following address:

    NAB Bereavement Support
    GPO BOX 2067
    Melbourne Victoria 3001

If your loved one had accounts or business with any of the below, you’ll need to contact them individually to finalise each account:

  • NAB Insurance – 13 22 95
  • NAB Cash Manager – 1800 036 171
  • NAB OnLine Trading – 13 13 80
  • Customer Care – 1800 701 599
  • National Australia Trustees – 1800 036 172
  • NAB Shareholder Services – 1300 367 647
  • NAB Business accounts – 13 10 12
  • NAB Broker (previously Homeside) – 13 22 18
  • Ubank - 13 30 80
  • MLC - 13 26 52. You can also contact MLC Trustee Claims to find out whether your loved one had an insurance policy or super account with MLC.

Don’t forget to contact other organisations where your loved one had an account - like phone companies, gas/electricity providers and the Australian Taxation Office (ATO).

Glossary

Beneficiary

Person(s) usually named in the will who receives money or assets after the death of your family member or friend.

Executor

Person(s) chosen in the will to make sure all things noted in the will are distributed as per your family member or friend's request.

Powers of attorney

Appointing someone as your power of attorney gives them the legal authority to look after your affairs on your behalf. The different types of powers of attorney are explained below:

  • general power of attorney: makes financial and legal decisions for you for a specific time period, like if you’re on holidays overseas. This power becomes invalid once that time period ends
  • enduring power of attorney: makes financial and legal decisions for you if you lose the capacity to make decisions yourself
  • medical power of attorney: makes decisions about your medical treatment if you become mentally or physically unable to make decisions for yourself.

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it’s appropriate for your circumstances. NAB recommends you seek independent legal, financial, and taxation advice before acting on any information in this article.

After more information?Other related articles

Where to begin managing the finances of someone who's passed

It can be really difficult when a family member or friend passes away. If you're a representative of their estate, we've put together this simple, four-step guide.

Helping you finalise a deceased estate

When a loved one passes away, getting through all the paperwork can be tough, but we’ll be here to help guide you through the process of making final arrangements for the estate.

Organising your will and estate

Prepare your finances and plan your estate now to avoid complications when you're gone.

After more information?Related products and services

Life insurance

Thinking about life insurance? At NAB we can protect you with cover for funeral costs, critical injuries and more.

Personal loan insurance

NAB Personal Loan Cover can help meet your loan repayments if you lose your job, are unable to work from injury or illness or diagnosed with a defined critical illness and may pay a lump sum to cover the loan balance if you die.

Helping you with financial hardship

We understand that life can take unexpected turns and leave you in a vulnerable financial position. If you're finding your loan or credit card repayments difficult to make, we may be able to offer assistance when you need it most.

Let's TalkWe're ready to help you

Talk to an expert
NAB Bereavement Support

Mon-Fri 8am - 5pm (AEST/AEDT)
If you're overseas call +61 03 9208 5577