How Do I Open an Estate Account at Oriental?
Oriental 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 Oriental
Where to open it
Not published by Oriental
Documents to bring
- Death certificate (Certificado de defuncion)
- Declaration of Heirs and/or the will (Declaratoria de Herederos y/o testamento)
- Executor's letter, if applicable (Carta de albacea, si aplica)
- Signature Authorization Resolution (Resolucion de Autorizacion de Firmas)
- Employer Identification Number (EIN) documentation
- Authorized signers' IDs, plus a utility bill if the ID address is missing or does not match the account address
Steps at Oriental
- 1Obtain the death certificate and the Declaration of Heirs (Declaratoria de Herederos) or the will; Puerto Rico issues no Letters Testamentary.
- 2Obtain an EIN for the succession.
- 3Prepare a Signature Authorization Resolution naming who may sign on the account, and include the albacea's letter if the will appointed one.
What it costs
Oriental does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Schedule that applies
- Per-product Disclosures, Terms and Conditions of the commercial deposit product opened, each an addendum to the Business Deposit Account Agreement (2025SEP1)
- Other charges
- Inactivity fee $10.00 per cycle after twelve consecutive months with no accountholder transaction; My Biz paper-statement charge $0.50 monthly, waived on e-Statement enrollment
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| My Biz Account | $25.00 | $5.00 per cycle | average monthly balance of $500 or more |
| Commercial Savings | $150.00 | $5.00 minimum-balance fee per cycle | average daily balance during the cycle not less than $1,000.00 |
| Non-Profit | $150.00 | $10.00 minimum-balance fee per cycle | average daily balance during the cycle not less than $1,500.00 |
| Commercial CD | $1,000.00 | ||
| Escrow | No minimum opening deposit | $0.00 | |
| Negocio Mas | $12.50 per cycle (closed to new openings) |
What to know at Oriental
Oriental opens a Puerto Rico succession as a commercial deposit account, listing Successions among the entity types on its Business Checking, Business Savings and Commercial Certificate of Deposit pages. From the deceased's own accounts, Oriental can pay a funeral-expense advance of up to $15,000 or 25% of funds on deposit directly to the funeral home, and deposits over $15,000 need the Puerto Rico Treasury Relevo de Hacienda.
Not in Oriental's published guidance
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
- 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
- What proof of the EIN it accepts
- 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
Oriental's published guidance does not state whether an estate account can be opened online.
Oriental asks for: Death certificate (Certificado de defuncion); Declaration of Heirs and/or the will (Declaratoria de Herederos y/o testamento); Executor's letter, if applicable (Carta de albacea, si aplica); Signature Authorization Resolution (Resolucion de Autorizacion de Firmas); Employer Identification Number (EIN) documentation; Authorized signers' IDs, plus a utility bill if the ID address is missing or does not match the account address.
Oriental does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account. Oriental's 6 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 Oriental primary sources (13 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.
