How Do I Open an Estate Account at First Commonwealth?
First Commonwealth opens estate accounts for a court-appointed executor or administrator. The documents it asks for, what the account costs, and the steps it lists are below.
Opening an estate account at First Commonwealth
Where to open it
Not published by First Commonwealth
Documents to bring
- Death certificate
- Short Certificate (Pennsylvania), or Letters of Testamentary or Letters of Administration (Ohio)
- Copy of the agreement or other documentation establishing the fiduciary's authority
- Acceptable identification and government-issued identification number
What it costs
First Commonwealth does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Other waivers
- None published for estate accounts; Hometown Checking is waived with eStatement enrollment and Confidence Checking with 5 or more customer-initiated transactions per statement cycle
- Schedule that applies
- Not stated for estate accounts; Schedule of Service Fees (Effective May 12, 2026) is a single schedule naming personal and business products
- For estate accounts
- Refer a Friend promotion terms only: "IOLTA accounts, MJ-IOTA, and Estate accounts do not qualify for this offer". The Business Document Requirements page lists "Estates" under business account opening, while the Deposit Account Agreement prints "Fiduciary or Agency Ownership" under "Personal Accounts:"
- Other charges
- Account Inactivity Fee $5.00 if the account has no client activity for one year
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| Business Checking | $50 | n/a | |
| Business Solutions Checking | $50 | $25 | $5,000 in this account OR $10,000 core deposit relationship balances |
| Business Checking Analysis | $50 | n/a (item fees based on account usage) | |
| Business Checking Plus | $50 | $10 | $2,500 minimum daily balance |
| Business Savings Account | $50 | $5 service charge per statement cycle | $500 minimum daily balance |
| Hometown Money Market Account | $1,000 | $3 service charge per statement cycle | $1,000 minimum daily balance |
| Hometown Checking | $50 | $2 | waived with eStatement enrollment |
| Hometown Checking Plus | $50 | $10 | Monthly deposits totaling $1,000+ OR Deposit relationship balances totaling $5,000+ |
| Hometown Checking Premium | $50 | $15 | Monthly deposits totaling $2,000+ OR Deposit relationship balances totaling $10,000+ OR Active Military or Veteran ID |
| Confidence Checking | No opening deposit required | $5 | 5 or more customer-initiated transactions during the statement cycle |
What to know at First Commonwealth
First Commonwealth opens estate accounts under its business-account document requirements, and its online business application offers only Association, Corporation, LLC, Non-Profit, Partnership and Sole Proprietorship, with no estate option. Under its Fiduciary or Agency Ownership terms the bank acts only as a custodian.
Not in First Commonwealth's published guidance
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
- Whether the estate's EIN is needed before opening
- Whether the deceased must have banked there
- Whether an out-of-state executor can open one
- Whether the death certificate must be a certified copy
- Whether the account comes with online banking, checks, a debit card, or mobile deposit
- How the deceased's balances reach the estate account
General information about each bank's published estate-account requirements, not legal or banking advice. Requirements vary by state and account type. Consult the institution for its current requirements. Data verified Sep 17, 2026
First Commonwealth's published guidance does not state whether an estate account can be opened online.
First Commonwealth asks for: Death certificate; Short Certificate (Pennsylvania), or Letters of Testamentary or Letters of Administration (Ohio); Copy of the agreement or other documentation establishing the fiduciary's authority; Acceptable identification and government-issued identification number.
First Commonwealth does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account. Refer a Friend promotion terms only: "IOLTA accounts, MJ-IOTA, and Estate accounts do not qualify for this offer". The Business Document Requirements page lists "Estates" under business account opening, while the Deposit Account Agreement prints "Fiduciary or Agency Ownership" under "Personal Accounts:". First Commonwealth's 10 published accounts are listed above with their fees and waivers; the estate account carries the fees of the account it is opened as.
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 (10 pages reviewed). How we research.
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Forms for Settling an Estate
Free forms for settling an estate: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Affidavit of Heirship
Prepare the sworn statement of a deceased person's family history and heirs for recording in the county land records, with your state's recording instructions.
Small Estate Affidavit
Collect a small estate's property without probate — the sworn affidavit presented to banks and other holders, with a presentation letter for each.
Estate Inventory
Prepare the probate inventory of estate property — every asset at its date-of-death value, composed to your state's statute, with the state's filing or delivery instructions.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Much Can an Executor Charge?
Calculate how much an executor can charge for administering an estate.
Can I Self-File Probate?
Whether your state lets you open probate yourself, and what it costs with a lawyer and without one.
How Do I Get Appointed as Executor?
See the court, petition, bond, and documents needed to be appointed and receive your Letters.
What Are the Creditor Claim Deadlines?
Find creditor claim deadlines, notice requirements, and payment priority order for your state.
What Happens When an Estate Is Insolvent?
See the order your state pays an insolvent estate's debts and which claims go unpaid.
What Is the Estate's Personal Property Worth for Probate?
Estimate the fair market value of household items for probate and see how it affects fees.
