Frequently asked questions about banking matters of death estates

Families mourning the loss of a loved one have many practical arrangements to deal with – organising the funeral, preparing the estate inventory and taking care of the deceased's banking, such as bills, accounts and banking services. We want to help you with handling the estate's banking matters with these questions and answers. You can read more on the page of losing your loved one.Opens new window

Frequently asked questions about the banking matters of a death estate

How do I notify Nordea about the death of a close relative?

The easiest way to notify us is to call Nordea Customer Service at 0200 70 000, Mon-Fri 8.00–18.00 (local network charge/mobile call charge), to use our chat, which also works with other banks’ online banking codes, or to visit a Nordea branch. Even if the Population Register Centre notifies the bank of the death of a customer, this information often comes with a delay. For this reason, you should notify us, too, so that we can help you take care of the estate’s banking matters. Once we have been informed of a customer’s death, we will send a balance statement on the customer’s accounts at Nordea to the customer’s latest known home address for the estate inventory. For more information, read How do I get the estate’s account information for the estate inventory? Additional information on the estate’s property is usually needed for the estate inventory. Even a single party to the estate may obtain all the information required by the estate inventory from the date of death and the subsequent period. Nordea may not disclose any information on the customer’s banking history until after the estate inventory has been made, with the consent of all the parties to the estate. If the deceased had a safety deposit box, an inventory must be made of its contents. For more information about the inventory of a safety deposit box, see How do I get the estate’s account information for the estate inventory?

Parties to the estate are established from the deceased’s extract from the population register, which you can submit to Nordea electronically via nordea.fi/en/omaposti. Choose “Estate documents” as the recipient of the message.

How do I pay the estate’s bills?

The estate’s first bills are usually related to the deceased’s burial and memorial service. The estate is responsible for paying the deceased’s bills incurred while the person was still alive, such as medical treatment costs and the maintenance charge. Bills addressed to the deceased or the estate can already be paid from the estate’s account before the estate inventory is completed. The bills can be paid by a single representative of the estate, such as the widow(er), heir or other close relative taking care of the estate’s affairs, as soon as Nordea has been notified of the death. 

At Nordea, you can pay the estate’s maturing payments:

  • in Netbank with the expense account that is opened for the estate for paying bills
  • by calling Nordea Customer Service, tel 0200 70 000, Mon–Fri 8.00–18.00 (local network charge/mobile call charge)
  • via chat after identifying yourself with your online banking codes. Nordea.fi chat serves you even if you use other banks’ online banking codes

The payment service and direct payment agreements the deceased had made will remain in force, and the administrator of the estate should terminate these agreements to avoid any extra expenses. The e-invoice service, the online banking codes and the account user rights in the deceased’s Netbank service as well as payment and parallel cards will cease to be valid due to the death. 

Estate’s expense account

An expense account is a new account that is opened for the estate. This way the bills of the estate can easily be paid in a party’s or other user right holder’s Nordea Netbank before the estate inventory is completed. The opening of an expense account requires the consent of all parties to the estate known before the estate inventory. They provide a power of attorney for opening an expense account and adding the account to the authorised party’s Nordea Netbank. A maximum of 10,000 euros or a smaller amount that is estimated to cover any upcoming bills may be transferred to the expense account from the estate’s other accounts with Nordea. 

The opening of an expense account requires submitting two different forms (in Finnish):

You must also deliver to the bank at least an extract from the deceased’s extract from the population register and other known documents, such as a will, if any.

You may send all forms and documents to Nordea electronically via nordea.fi/en/omaposti. Choose “Estate documents” as the recipient of the message. 

How do I get the estate’s account information for the estate inventory?

We will send a balance statement to the deceased’s latest home address free of charge. This balance statement shows the account information needed for the estate inventory. The balance statement of a widow(er) needs to be ordered separately.

Even a single party to the estate may ask to obtain all the information of the deceased’s banking matters from the date of death and the subsequent period. Partnership in the estate is confirmed from the extract from the population register. Information on the customer’s banking history can only be disclosed to all parties collectively and only after the bank has established the parties to the estate.

With an inventory of the safety deposit box, you can obtain the information about the property and documents in the safety deposit box that you need for the estate inventory. To make an inventory of a safety deposit box, book an appointment at our branch and we will help you with it. The safety deposit box may not be cleared out before the estate inventory. 

Book an appointment for the inventory of a safety deposit box or ask for additional information by calling Nordea Customer Service at 0200 70 000, Mon-Fri 8.00–18.00 (local network charge/mobile call charge), or by using our chat, which also works with other banks’ online banking codes. 

How can I deliver an estate’s documents to the bank?

The estate inventory deed and its appendices can be easily submitted to Nordea at nordea.fi/omaposti. Select “Estate matters” as the topic of the new message.

Alternatively, you can deliver copies of the documents by post to the address below. Please include the name, phone number and address of a contact person.

Nordea Bank Abp

Operations Finland / Estates

5001230-2101

Réponse Payee Finlande

00006 VASTAUSLÄHETYS

How can I sell or transfer the shares and investments of the deceased to someone else?

After Nordea has established the parties to the estate from the estate inventory deed and its possible appendices, the parties can collectively decide what to do with the assets in the estate’s book-entry account or fund portfolio in Nordea. Once the establishment of the parties to the estate has been completed, Nordea will send a text message notification of it. After that, it is possible to sell shares and fund units or assign them to the parties.

When selling shares or fund units, you must provide a power of attorney from each party to the estate. You can make the sell order by calling Nordea Customer Service. If shares or fund units are assigned from the estate to parties without converting them into cash, you always have to also provide Nordea with a lawful estate distribution agreement. You can provide the power of attorney, for example, by filling in the form "Power of attorney for managing an estate's banking at Nordea (pdf, 617 KB)Opens new window" and sending it electronically to Nordea via nordea.fi/en/omaposti. Choose “Estate documents” as the recipient of the message.

If you want to assign shares or funds to parties, this assignment will be done at a Nordea branch. You can book an appointment to a branch by calling Nordea Customer Service at 0200 70 000, Mon–Fri 8.00–18.00 (local network charge/mobile call charge), or by using our chat, which also works with other banks’ online banking codes.

Please note that when you are selling shares and fund units, the amount of capital gains tax may change depending on whether the shares are sold in the name of the estate or in the name of a party to the estate. You can read more about taxation on the Tax Administration's website at www.vero.fi/enOpens new window.

How do I close the deceased’s account?

When Nordea has completed the establishment of the parties, the parties can collectively decide about the use and the termination of Nordea services, such as accounts. You can leave the deceased’s account in force until further notice in case of any tax refunds or to be used by an undistributed estate.

After the estate inventory, you will need the consent of all parties to the estate when handling the estate's banking matters. The easiest way to provide it is to fill in the form "Power of attorney for managing an estate's banking at Nordea (pdf, 617 KB)Opens new window" and send it to Nordea electronically via nordea.fi/en/omaposti. Choose “Estate documents” as the recipient of the message.

The funds in the accounts may be distributed with powers of attorney provided by the parties to the estate or the accounts can be added to a party’s Netbank for distribution. It is not necessary to present the estate distribution agreement to Nordea in money transfers from the estate’s accounts. When the funds in an account have been distributed, the account can be closed. The easiest way to close an account is to call Nordea Customer Service at 0200 70 000, Mon-Fri 8.00–18.00 (local network charge/mobile call charge), or to use our chat, which also works with other banks’ online banking codes.

Contact Nordea Customer Service  

Mon-Fri 8.00 - 18.00

0200 70000 (lnc/mcc*)

* local network charge/mobile call charge