How Do I Open an Estate Account at WaFd Bank?
WaFd 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 WaFd Bank
Opening channels
- In a branch
- Not stated
- Online
- Not stated
- By phone
- Not stated
- By mail
- Not stated
What to know at WaFd Bank
WaFd Bank's Personal Deposit Account Agreement (Consumer Disclosure Guide, "Trust Accounts and Fiduciary Accounts" section) affirmatively recognizes fiduciary accounts established by executors and administrators as an account type, and states the bank may rely on documents delivered to it by a fiduciary. WaFd's own "Financial Steps After Someone Dies" guide recommends the executor consider opening an estate account -- defined in its glossary as "a temporary bank account set up in the name of the estate to consolidate and manage the deceased's assets during the probate process" -- to track estate funds and pay debts during settlement. Neither source publishes an opening procedure: no channel (online, phone, mail, or branch), document list, minimum deposit, or timing is stated for estate account opening. The online account application markets only personal and business checking/savings and does not surface an estate ownership option, but publishes no exclusion. General service is via 200+ branches and 24/7 phone at 800-324-9375.
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
WaFd Bank's published guidance does not state whether an estate account can be opened online.
WaFd Bank's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with WaFd 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 WaFd Bank primary sources (3 pages reviewed). How we research.
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