How Do I Open an Estate Account at Third Federal?
Third Federal's estate-account opening requirements: where the account can be opened, the documents to bring, and the EIN requirement.
Opening an estate account at Third Federal
Account type: Decedent Estate Account
Opening channels
- In a branch
- Available
- Online
- Not available
- By phone
- Not stated
- By mail
- Not stated
Documents to bring
- Original or certified copy of appointment papers — any of the following, as applicable: Letters of Testamentary, probate court documents, domiciliary letters, Letters of Appointment, or Letters to General or Special Administration
- Employer Identification Number (EIN) issued for the estate — Third Federal instructs the fiduciary to obtain and present it
- Identification documentation for the executor(ix)/personal representative
What to know at Third Federal
The Deposit Account Agreement names the "Decedent Estate Account" as one of its account ownership types — "an account opened in the name of a personal representative, administrator, administratrix, executor, or executrix of the estate of a deceased person" — and the Estate Support FAQs carry a dedicated "What information is needed to open an Estate Account?" entry. Online opening is excluded: the account-opening FAQs state that online applicants have only individual or joint ownership options (trust accounts are likewise branch-only, and retirement accounts are not available online), so an estate account is opened through the branch/Estate Support track. Estate Support directs the fiduciary to visit an Ohio or Florida branch or call 1-844-798-7784; estate documents can be mailed to Third Federal Savings & Loan, Attn: Legal - Deposit Operations, 7007 Broadway Ave., Cleveland, OH 44105, but Third Federal does not state whether the account itself can be opened entirely by mail or phone. No minimum deposit, appointment requirement, co-fiduciary rule, or Letters recency window is published for estate accounts.
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
No. Third Federal states an estate account cannot be opened online. Opening is done in person at a branch.
Third Federal asks for: Original or certified copy of appointment papers — any of the following, as applicable: Letters of Testamentary, probate court documents, domiciliary letters, Letters of Appointment, or Letters to General or Special Administration; Employer Identification Number (EIN) issued for the estate — Third Federal instructs the fiduciary to obtain and present it; Identification documentation for the executor(ix)/personal representative.
Yes. Third Federal opens the account under the estate's Employer Identification Number (EIN) from the IRS — the deceased's Social Security Number cannot be used. Getting the EIN is the first step.
Third Federal's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with Third Federal 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 Third Federal primary sources (3 pages reviewed). How we research.
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