What happens to a joint bank account when one person dies?
Losing someone is one of the hardest things a person can go through, and dealing with practical matters like money at such an emotional time can feel overwhelming.
This guide is here to help make the process of managing a joint bank account after a death as clear and simple as possible. We'll walk you through the necessary steps, from the first documents you'll need, to what happens to your money. We also offer mental health support for our customers if you need it.
Understanding the paperwork involved
The very first official step is to register the death of your loved one so you can get a death certificate. This is a legal document that confirms the person has died, and you’ll need it to access the person’s bank accounts. It’s a good idea to order a few copies at once, as many places will ask for an original.
The government's website is a good place for everything you might need to know on this.
Apply for a grant of probate
If you're the other joint account holder, you can skip this bit. Depending on the circumstances, you might need to apply for a 'grant of probate'. In simple terms, this is official permission from a court to deal with the deceased person's property and finances (known as their 'estate'). You might not need it if the person who died had a small estate, but it's often a necessary step.
When you apply for probate, you may also need to consider any inheritance tax implications. This can be a complicated area, so it’s always best to seek professional advice if you’re unsure.
Get in touch with banks, building societies and insurers
Once you have the death certificate, you’ll need to contact all the financial institutions the person had accounts with. This includes their bank, building society and any insurance providers. Bank accounts usually stay open until all money is taken out of them, but direct debits and standing orders will most likely be cancelled.
The process can vary between banks, but you'll usually need to provide them with the death certificate. At Monzo, we’ve made this process as straightforward as we can. You can get in touch with our Life Events team by filling out a form at monzo.com/bereavements, emailing us at bereavements@monzo.com, or calling us on 0800 802 1281 (or +44 203 872 0620 from abroad). Our dedicated team will guide you through the next steps with care and support. We'll explain what's needed and what to expect.
After you've contacted the bank, you can decide what to do with the joint account. This might involve moving the money to an account in your sole name and rearranging any standing orders or direct debits. When you're ready, you can start the process of closing your joint account, or we can take care of things for you, and make sure it’s done at a pace that feels right for you.
If you're the executor, that means you're in charge of withdrawing money and distributing it to people according to the will, which a solicitor can help with.
What happens to a joint account when someone dies?
If you’re named as one of the joint account holders, you can withdraw money from the account. If you're not named on the joint account, it's illegal to withdraw money until you've applied for and received the grant of probate.
Any direct debits taken out in the sole name of the person who has passed away will need to be cancelled, as well as standing orders. Usually your bank will give you the details of any direct debits or standing orders so it's up to the surviving account holder what changes are made.
If you held a joint account that was a savings account, the name will be changed to just your own and everything left in the joint savings account will be yours. Most banks and building societies will allow you to close the account if you want to, but it's important to check everything with your bank.
What about joint account debt?
Any debt owed on a joint account and in a joint name, will automatically be the responsibility of the person left on the joint account. This can be an overdraft or an amount that's owed on a credit agreement, like a loan or credit card card debt.
Taking on extra debt, especially if it’s unexpected, can be incredibly stressful. If you feel like you’re struggling with this, remember that you're not alone, and it's always okay to ask for help. It’s also a good idea to speak to your lender as soon as possible. Read our guide on what to do if you're struggling to make payments for more information, including organisations that offer free, confidential, and impartial advice.
Other helpful resources
For more detailed information, you might find these resources useful:
Citizens Advice: dealing with the financial affairs of someone who has died
The Gazette: what to do when someone dies: a checklist
We understand how overwhelming it can be to manage financial matters when you're grieving. While some things do need timely attention, our Life Events team is here to support you. You can reach us at bereavements@monzo.com when you're ready, or give us a call on 0800 802 1281, and we'll help with what you need.
To open a Monzo Joint Account, you'll both need a Monzo current account first. Aged 18+ and UK residents only. Ts&Cs apply.
Questions? Answers.
Are joint accounts frozen when one person dies?
No, a joint bank account isn't usually frozen when one person dies. As the surviving account holder, you should still be able to access the money. We can support you with transferring the money out, when you’re ready.
Can I take money out of a joint account after death?
Yes, as the surviving account holder, you can still access and use the money in the joint account. The money is legally yours.
Do I need to close a joint bank account after a death?
You don’t have to close the account immediately. The first step is to inform the bank of the death. We can support you with closing the account and transferring the money to your individual account.
Can a joint account be closed by one person?
Yes, especially in this situation. If you’re the surviving account holder, you have the authority to close the account once the bank has been notified of the death.