How Do I Open an Estate Account at First Commonwealth?
First Commonwealth's estate-account opening requirements: where the account can be opened, the documents to bring, and the EIN requirement.
Opening an estate account at First Commonwealth
Account type: Estate account (named as an account category in First Commonwealth's checking-offer terms; no estate-account product page or disclosure is published)
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
- Documentation establishing the personal representative's authority — under the Deposit Account Agreement's Fiduciary or Agency Ownership terms, an account may be "held by an individual who acts as an attorney-in-fact, agent, guardian, personal representative, trustee, custodian or some other fiduciary capacity," and the account holder "may be required to provide a copy of the Agreement or other documentation" so the bank can confirm authority; for an estate the authorizing instrument is Letters Testamentary or Letters of Administration
- Acceptable form of identification and government-issued identification number — the agreement's Opening Your Account clause requires "acceptable forms of identification, your government issued identification number, and any required minimum deposit," and adds that "[o]ther document requirement(s) may apply based on the type of Account being opened"
What to know at First Commonwealth
First Commonwealth publishes no estate-account product page, opening checklist, or channel guidance. Estate accounts exist as a recognized category — the referral-offer terms on the personal checking pages exclude "IOLTA accounts, MJ-IOTA, and Estate accounts" — and are governed by the Deposit Account Agreement's Fiduciary or Agency Ownership terms, under which the bank acts only as custodian of the funds on deposit and may require documentation confirming the fiduciary's authority. Consumer deposit accounts open online (18+), by phone at 844-711-2265, or in person by appointment at a community office, but the online account-opening flow lists only Checking/Savings/CDs, Savings for Minor, credit, and lending options with no estate or fiduciary path, and the bank states no channel for estate titling — an executor or administrator starts at 1-800-711-2265 or a Pennsylvania or Ohio branch. Letters recency, EIN timing, minimum opening deposit for estate accounts, and co-fiduciary signature requirements are not published.
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
First Commonwealth's published guidance does not state whether an estate account can be opened online.
First Commonwealth asks for: Documentation establishing the personal representative's authority — under the Deposit Account Agreement's Fiduciary or Agency Ownership terms, an account may be "held by an individual who acts as an attorney-in-fact, agent, guardian, personal representative, trustee, custodian or some other fiduciary capacity," and the account holder "may be required to provide a copy of the Agreement or other documentation" so the bank can confirm authority; for an estate the authorizing instrument is Letters Testamentary or Letters of Administration; Acceptable form of identification and government-issued identification number — the agreement's Opening Your Account clause requires "acceptable forms of identification, your government issued identification number, and any required minimum deposit," and adds that "[o]ther document requirement(s) may apply based on the type of Account being opened".
First Commonwealth's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with First Commonwealth 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 First Commonwealth primary sources (4 pages reviewed). How we research.
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