How Do I Open an Estate Account at Commerce Bank?
Commerce Bank's estate-account opening requirements: where the account can be opened, the documents to bring, and the EIN requirement.
Opening an estate account at Commerce Bank
Opening channels
- In a branch
- Not stated
- Online
- Not stated
- By phone
- Not stated
- By mail
- Not stated
- Appointment
- Not stated
- Co-executors
- Not stated
Documents to bring
- Personal-representative (fiduciary) designation on the Commerce Bank signature card or other account documentation or record
- Documentation establishing the fiduciary's authority -- Commerce Bank may require the Agent to present the original documentation establishing their authority (for an executor or administrator, the court appointment)
- Identifying information for the person opening the account: name, address, date of birth, and driver's license or other identifying documents (federal Customer Identification Program requirements stated in the Deposit Agreement)
What to know at Commerce Bank
Commerce Bank publishes no estate-account product page; the Deposit Agreement is the primary source for this block. Section II.H (Agency and fiduciary accounts) recognizes accounts held by a personal representative in a fiduciary capacity as an account-ownership form -- the basis for the estate (probate) account -- but the agreement states no opening channel, appointment policy, minimum deposit, estate account-type menu, EIN timing, or Letters recency window, so those facts are recorded as unclear rather than inferred. Once such an account is open, the Deposit Agreement provides that when an account is held in the name of two or more persons as Agents or in a fiduciary capacity, each authorizes the other to act independently with respect to the account, and Commerce reserves the right to restrict the types or sizes of transactions an Agent may conduct on a case-by-case basis. The general personal-account guidance ("If you're new to Commerce, you can apply online or stop by any Commerce branch to open an account," per the checking FAQs) does not address fiduciary or representative capacity. Separately, Commerce Financial Advisors (the brokerage arm, through LPL Financial) describes an estate account type for investment accounts "used to liquidate or manage the assets for an estate" under a court appointment -- a brokerage product, not the bank deposit account. Commerce Trust Company provides full-service estate settlement for wealth management clients.
This guide summarizes each bank's published estate-account requirements and is not legal or banking advice. Requirements may vary by state and account type.
Frequently Asked Questions
Commerce Bank's published guidance does not state whether an estate account can be opened online.
Commerce Bank asks for: Personal-representative (fiduciary) designation on the Commerce Bank signature card or other account documentation or record; Documentation establishing the fiduciary's authority -- Commerce Bank may require the Agent to present the original documentation establishing their authority (for an executor or administrator, the court appointment); Identifying information for the person opening the account: name, address, date of birth, and driver's license or other identifying documents (federal Customer Identification Program requirements stated in the Deposit Agreement).
Commerce Bank's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with Commerce Bank whether all must attend.
An estate account is a bank account titled to the estate itself — not to the person who died and not to the executor personally. The court-appointed executor or administrator opens it to deposit money owed to the estate (final paychecks, refunds, proceeds from closed accounts), pay the estate's debts and expenses, and distribute what remains. Checks made out to "the Estate of" can only be deposited into an account titled this way.
The estate is its own taxpayer, separate from the person who died. Banks open estate accounts under the estate's Employer Identification Number (EIN) from the IRS, not the deceased's Social Security Number. The free EIN application prepares IRS Form SS-4 for the estate.
Sources
Data sourced from Commerce Bank primary sources (3 pages reviewed). How we research.
